News
Important news about TRS Payroll Deducation Program
In order to comply with recent IRS guidance, the TRS Payroll Deduction Program must be discontinued. Full-time, employed members will no longer be able to use the program to pay for optional service, 2.2 upgrades, and the Early Retirement Option through payroll deduction on a pretax basis. Other tax-deferred options still remain. Please consult your tax advisor for details.
TRS will phase out the program over the next two years. Payroll Deduction Agreement forms for new enrollments must be received no later than 4:30 p.m. on May 15, 2008 at the TRS Springfield office. The program will end in June 2010; affected members will be notified by TRS.
If you have specific concerns about the elimination of the program, please call:
Rich Frankenfeld
Director of Outreach
Teachers' Retirement System
800-877-7896, x 2973
217-753-0973