It is mandatory that employers remit pay period contributions and billed items to TRS via EFT using the Automated Clearing House (ACH) debit method. Employers may make payments to the Teachers’ Retirement System by either telephone-based electronic funds transfer (EFT) or by a web-based remittance system. Both options are available 24 hours a day, seven days a week, including holidays. The same personal identification number (PIN) code is used for either method.
Establishing a PIN
Only for new employers
After TRS notifies the employer that the district/organization's account has been created with the payment provider, the following steps must be completed to establish the employer's PIN code.
- Select a four-digit PIN. The PIN has to be entered each time employers make an EFT payment. Please retain and maintain adequate security of the PIN.
- Call (800) 230-1107.
- Follow steps 1-4 at the bottom of page 1 of the Instructions for Employer Electronic Funds Transfer (EFT), using an initial PIN of 0000.
- At step 5, select option 6. An employer will be asked to establish and verify the PIN. Enter the selected PIN from step 1.
- After the PIN has been accepted, please hang up.
After these steps are completed, an employer may remit EFT payments either by phone or via the web.
PIN and Bank Account Modifications
For existing employers
All PIN code modifications must be changed by telephone. Call (800) 230-1107, enter your employer number and PIN code, then select option 6 to submit the desired PIN code change.
If your employer banking information changes, print and complete an Electronic Funds Transfer Form, then fax it to TRS.
To be considered timely, all payments must be submitted by 3:30 p.m. (Central Time) at least one banking business day prior to the due date. The following example is for a payment day following a weekend.
Example: Payments due by Monday the 10th must be completed/submitted by 3:30 (Central Time) on Friday the 7th.
When the due date is on a day following a Federal Reserve bank holiday, the employer must complete/submit payment on or before the last banking business day prior to the holiday.
Example: Payment is due on Tuesday the 25th. Monday the 24th is a Federal Reserve bank holiday. Payment must be completed/submitted by 3:30 p.m. (Central Time) on Friday the 21st.
When the due date is on a weekend or Federal Reserve bank holiday, TRS allows payments to be credited on the next business day after the weekend or holiday.
Example: Payment is due on Federal Reserve bank holiday Monday the 25th. Payment must be completed/submitted by 3:30 (Central Time) on Friday the 22nd.
Employers may specify a future bank account debit date. This date cannot be a weekend or a Federal Reserve bank holiday and must be at least one business day in the future. For pay period contributions, the debit date can be up to 30 days in the future. (Contributions for a new fiscal year cannot be made and/or warehoused prior to July 1.) Billed amounts are due upon receipt.
Whether payment is made by web or by phone, employers may view a transaction history for all completed, pending or cancelled payments for the past 360 days or previous 100 transactions, whichever occurs first, for the selected payment type. An employer must log on to the Online Payment System under the Employer Access area of the website, then select "Payment Inquiry" on the left side of the screen. Web payments are in real time, so the payment may be viewed immediately after it is submitted.
Alternatively, employers can inquire about a payment by calling (800) 230-1107, entering the correct employer number and PIN code when prompted, and then pressing 5 to speak with an operator to discuss a particular payment made current day or up to 60 days earlier.
Cancel a Payment
Whether payment is made by phone or web, any individual payment that has not been settled (a future dated payment) may be cancelled. An employer must log on to the Online Payment System under the Employer Access area of the website, then select "Cancel a Payment" on the left side of the screen. The 5-digit reference number corresponding to the payment can be used to identify the correct payment to cancel. The cancellation must be completed by 3:30 p.m. (Central Time) at least one business day prior to the selected debit date. A new reference number will be given upon confirmation of the cancelled payment. The entire payment must be cancelled and completely resubmitted.
Alternatively, employers can inquire about canceling a payment by calling (800) 230-1107, entering his/her employer number and PIN code when prompted, and then pressing 5 to speak with an operator about canceling a payment that has not yet been settled.