Overview
You may make contribution payments to the Teachers’ Retirement System by either telephone-based electronic funds transfer (EFT) or by a Web-based remittance system.
Regardless of the payment method you choose, the contribution due dates, late-payment penalties, and the statements you receive are the same.
TRS Electronic Payments
Our electronic funds transfer (EFT) program allows you to remit your contributions electronically by dialing a toll free 800 number. When you place the call, our user friendly telephone script walks you through each step in the electronic remittance process.
Web-Based Remittance
The TRS Web-based Remittance System is a fully integrated, electronic payment system for employers that enables you to pay TRS obligations via the internet. Click here for further instructions (PDF).
Banking Information Changes
If your banking information changes once you’re enrolled, complete the enrollment form and indicate “Notice of Change.” Click here to access the form (PDF) on our Web site or call (888) 877-0890.
Advantages
Convenience
All you have to do is make a quick toll free phone call or Web-based remittance. There’s no more filling out contribution cards and licking stamps.
Peace of mind
It assures that we receive your payments on a timely basis. You receive immediate confirmation for your payments.
Control
You control when your bank account is debited. When you submit your payment, you can “warehouse” your payment by specifying a debit date up to 30 or 40 days in advance of the date you would like your account debited, depending on the type of contribution you’re remitting.
No penalties
If you make your transaction before the due date, you avoid penalties. This allows you maximum use of your funds while ensuring that we receive payments by the due dates.
Contribution Due Dates
For TRS retirement and THIS Fund insurance contributions
| Salary Paid |
Contributions Due |
| Between the 1st and the 15th of the month |
By the 25th of that month |
| Between the 16th and last day of the month |
By the 10th of the following month |
| All contributions for fiscal year ending June 30 |
By July 10th |
Payroll Deduction Program payments
Contributions are due by the 10th of the month following the month in which the deductions are made.
Late-Payment Penalties
The date contributions are received will determine if penalties will be assessed. If we do not receive your payment by the due date, we will assess penalties.
Verification of Payments
We provide you with a monthly employer statement that you should use for verification and reconciliation purposes.
Questions?
If you have questions, please contact us.
Back to top
|
