Eligible TRS members can Bring More with the Supplemental Savings Plan (SSP).
In 2022 the TRS SSP was launched, in accordance with Illinois law – 40 ILCS 5/16-204 – requiring Teachers’ Retirement System to offer an optional defined contribution benefit to eligible active members of the System. To comply with this law, TRS has contracted with Voya Financial to develop and offer the TRS Supplemental Savings Plan (SSP). The SSP is a 457(b) retirement plan.
This page is intended to keep TRS employers up-to-date with the latest information regarding the SSP.
PARTICIPATING EMPLOYERS
The law states all employers are required to implement the benefit and must comply with the reporting and administrative functions established by TRS. Employers must adopt the TRS Supplemental Savings Plan for their eligible employees to participate in the SSP. View the list of Participating Employers who have adopted the SSP. If you are an eligible employer that has not yet adopted the SSP, click here to learn next steps.
INELIGIBLE EMPLOYERS
TRS-covered employees of tax-exempt non-government employers, such as labor unions and professional associations, are not eligible to participate in the SSP.
These employers are the Illinois Education Association, Illinois Federation of Teachers and the Illinois Association of School Boards. While these employers have an educational purpose, they are not government employers and their employees are not eligible to participate in the SSP.
If you have any questions, please contact TRS at SSP@trsil.org.
Resources
- TRS Benefits - New Hire Flyer
- SSP Overview and Updates, Sept. 2023
- SSP Plan and Reporting Training, Sept. 2023
- SSP Automatic Enrollment Employer Training, Nov./Dec. 2022
- Supplemental Savings Plan Presentation - Superintendent Overview
Employer Bulletins for Reference
- FY24-05: SSP Update: Removal of the 1st of the Month Rule for New Enrollments & Changes
- FY24-04: SSP Trainings, Resources & Plan Updates
- FY23-20: SSP Deferred Payment Update and Delinquent Contributions Emails
- FY23-17: Automatic Enrollment is Live
- FY23-15: TRS Supplemental Savings Plan Update
- FY23-14: Supplemental Savings Plan Resources
- FY23-12: TRS Will Launch SSP Auto Enrollment on Jan. 1, 2023
- FY23-06: TRS Supplemental Savings Plan Resources
- FY23-01: Sept. 30, 2022 Deadline For Employers to Adopt the Supplemental Savings Plan
- FY22-33: TRS Announces Sept. 30, 2022 Deadline for Employers to Adopt Supplemental Savings Plan
- FY22-30: Supplemental Savings Plan: Reporting in Gemini; Connecting with Voya
- FY22-26: Gemini and Supplemental Savings Plan Update
- FY22-22: SSP Deferrals Report Update & Upcoming Employer SSP Reporting Training
- FY22-16: New TRS Supplemental Savings Plan About to Begin!
- FY22-15: TRS Supplemental Savings Plan Overview