We are writing to let you know that Annual Statements for calendar year 2021, which would normally be mailed by the end of June of this year, will be delayed due to issues with our computer system that are impacting the ability to finalize monthly deduction reports.
The MTRS will notify members of the delay, via the email below, on Tuesday, June 28th, after 5:00 pm. If you or your employees who are MTRS members have any questions, please see FAQs: About your statement of annuity savings account
2021 Annual Statements will be delayed
We regret to inform you that MTRS Annual Statements for calendar year 2021, which would normally be mailed by the end of this June, will be delayed due to issues with our computer system that are impacting the ability to finalize monthly deduction reports. We sincerely apologize for this delay and are diligently working with our technology partners and school districts to resolve all outstanding issues.
In the meantime, we invite you to log into MyTRS, our member self-service portal, where you can view a summary of your retirement contributions posted to date. Once logged in, click Retirement Account in the left navigation menu and choose MTRS Membership and Account Summary.
Please note that due to the system issues, your account summary may not be up to date. Employers are required to withhold MTRS contributions and submit detailed reports to the MTRS each month. The contributions are deposited immediately, but the data must be validated and checked for errors by the MTRS for the ENTIRE district before the contributions are posted to each individual member’s account and viewable in MyTRS.
Most, if not all, of the current reporting delays are related to our computer system issues and are not the fault of our employers who are still sending in timely retirement contribution payments to the MTRS. Posting your contributions will take some time, but once the validation process is complete for each report, your contributions for that report will be released into your account and viewable in MyTRS.
As a reminder—your retirement benefit is NOT based on the balance in your annuity savings account.
The MTRS is a “defined benefit” plan, which means that your retirement benefit is calculated based on your age at the time of your retirement, your years of creditable service, and your highest three-year salary average (Tier 1 members) or five-year salary average (Tier 2 members).
Please note that you can also review your beneficiary information in MyTRS. If you have not yet designated a beneficiary or need to update your beneficiary information, be sure to download a Beneficiary Designation—Active and Inactive member form and submit your original completed form to us in the mail. Please visit our statement of annuity savings account FAQ page for additional information.
Finally, if you need a statement of your MTRS annuity savings account balance—for instance, as documentation for a mortgage application—please contact us by phone or email . We will gladly send you a letter with the information currently posted to your account.
Thank you for your patience and understanding. If you have any questions, please contact us via email at firstname.lastname@example.org.