What is the deadline for remitting contributions?
The required contributions will be due with the monthly/pay period report. The employer will choose whether to report on a pay period or monthly basis. After an employer chooses to report on a pay period or monthly basis, all future reports, must conform to the same filing frequency. If monthly reporting is chosen, all payroll occurring within the month must be included in a single monthly report.
Reports and contributions due for the month must be remitted to the System by the 10th day of the following month. There is a $50 per day penalty for each day the report is not on submitted after the deadline.
Following is the reporting cycle:
What is the deadline for submitting the report and remitting contributions if I pay my teachers semi-monthly and report semi-monthly?
Whether reporting after each pay period or monthly the reports and contributions are due by the 10th day of the following month. There is a $50 per day penalty for each day the report is not submitted by the deadline.
Examples:
District A pays teachers over 24 pays. District A remits reports to TRS after each pay period. In September, TRS-covered employees are paid on September 10 and September 30. District A submits the first September report on September 15 and the second report on October 9. The reports were submitted by the deadline of October 10.
District B pays teachers over 24 pays. District B remits reports to TRS after each pay period. In September, TRS-covered employees are paid on September 10 and September 30. District B submits the first September report on September 20 and the second report on October 11. The reporting deadline for both reports was October 10, therefore, District B was one day late. District B will have a $50 penalty.
District C pays teachers over 24 pays. District C remits reports to TRS after each pay period. In September, TRS-covered employees are paid on September 10 and September 30. District C submits the first September report on October 11 and the second report on October 12. The reporting deadline for both reports was October 10, therefore, District C was two days late. District C will have a $100 penalty.
