The following definitions are provided to help you understand terms we regularly use in our seminars, correspondence, and publications. These definitions are general, not technical, in nature. For detailed definitions, please see the Illinois Pension Code, Article 16.

E

EFT, electronic funds transfer

The process of electronically depositing benefit payments into an account at a financial institution. For employers, this is the system that allows them to remit contributions and certain payments to TRS electronically.

Employer Bill

Documents provided by TRS to each TRS employer on a monthly basis. A separate bill is provided for each type of payment (PDP, employer retirement costs, penalties, ATE, report difference) that is owed to TRS or THIS Fund.

Employer Bulletin

A supplement to the TRS Employer Guide. Contains periodic news and information.

Employer Guide

A publication designed to help TRS-covered employers remit contribution payments to TRS and meet TRS reporting requirements. The Employer Guide also serves as a reference for employers on TRS policies, procedures, and benefits.

Employer Statement

A monthly statement that TRS provides to each employer. It reflects all payments credited to the employer's account during the previous time period.

Employer’s Annual Report of Earnings

A report providing necessary information to establish and record earned service credit, annual salary rates, creditable earnings, and contributions for all members of a TRS-covered employer for a current reporting year. The report is due to TRS from the TRS-covered employer by August 15 of each year for the prior fiscal year.

employer’s normal cost

The employer's portion of the total normal cost of benefits earned by active members during the fiscal year that is not funded by the estimated contributions of active members.

Employer’s Report of Adjustments to Earnings (ATE)

A form used to correct salary and service credit information that was previously submitted on an Employer’s Annual Report of Earnings for any prior reporting year.

Employer's Sick Leave Report form

This form is used to report unused and uncompensated sick leave days for teachers who have terminated employment with a TRS employer. Do not include teachers whose sick leave was reported on a Supplementary Report form. The Employer's Sick Leave Report form is completed by the employer and submitted with the Employer's Annual Report of Earnings form.

ERO, Early Retirement Option

The Early Retirement Option (ERO) can be used by a member to avoid a substantial reduction in pension benefits if the member retires prior to age 60 with less than 35 years of creditable service. The program will continue at least through 2012.

In addition, the 0.4 percent member retirement contribution for ERO that is paid to TRS is refundable if the member does not retire using ERO.

extra duties not requiring certification

Extra duties that involve supervising students or are related to teaching or the academic program that do not require teacher certification (e.g., class sponsor, club leader, coach) performed for a TRS-covered employer. These extra duties are reportable if performed by a full-time or a part-time contractual teacher.

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