Fall monthly deduction report reminders
With the 2020-2021 school year starting shortly, we would like to offer some reminders to help you have a successful reporting year.
Category: Employer News
Active employee registration: Three steps to setting up your new hires in MyTRS
Step 1: Ensure that your employees are eligible for MTRS membership
BEFORE you register your new hires in MyTRS, make sure that they are eligible for MTRS membership by reviewing our eligibility criteria.
Key reminders
- Employees must meet all four regulatory eligibility requirements with the exception of the following:
Five tips for efficient year-end deduction reporting
1. Employee receiving a lump sum payment? Set the pay duration to "LS" in your payroll software.
Change the pay duration field to "LS" in your payroll software prior to exporting your May deduction report to ensure that employees are setup correctly for the June report.
2. For any lump sum payment that requires a service correction …
Read more Five tips for efficient year-end deduction reporting
MTRS Guidance on potential furloughs and other fiscal emergency measures
The MTRS is hearing that due to the anticipated economic impact of the COVID-19 pandemic, school district employers may be considering local cost saving measures and wondering how they would impact their employees' retirement benefits. If your district is considering such measures, we encourage you to review the following information before finalizing contractual agreements affecting …
Read more MTRS Guidance on potential furloughs and other fiscal emergency measures