- Why is TRS making this change?
PA 100-0769 requires TRS to offer an optional defined contribution plan for all members, regardless of tier. Defined contribution plans inherently come with certain reporting requirements that require changing from annual reporting to pay-period reporting.
- Will multiple employers be able to submit and work on their reports at the same time without the system crashing?
TRS is testing to ensure that the system does not crash with heavy user activity near deadlines.
- I pay teachers semi-monthly. Can I change how I pay and pay the amounts that they would be paid in July and August as one lump sum in June?
Yes, the amount of pays and pay dates are determined by the district. The amount paid as a lump sum in June for the amounts that would be paid in July and August would be reported on the June report due July 10th as deferred earnings.
- Can I shift my teachers from 24 to 20 pays?
How you pay your teachers is a district-level decision. TRS only requires that districts no longer accelerate contributions and report all earnings and contributions by July 10th.
- Can I upload a new report before all the issues from a previous submission are resolved?
No. All fatal errors must be corrected, and all warnings must be reviewed and corrected and/or certified as correct before the next report can be submitted.
- Can I get an annual summary of what has been submitted?
You will be able to print and view various reports. The reports are still being discussed and developed.
- Will this reduce the number of audits that TRS conducts?
TRS is still required to conduct on-site audits under GASB 68. However, the nature and scope of the audits conducted in-office may change.
- What is a balanced calendar?
“Year-round schools” is a more common phrase. Both traditional and year-round school calendars have the same number of days in the school calendar, typically 180 or 185. The traditional calendar is divided into nine months of instruction and three months of vacation during the summer. A balanced calendar or year-round school have extra breaks built in such as intercession, enrichment or remedial teaching over a longer period.