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TRS Stable Contribution Option

TRS Stable Contribution Option. Opt-In/Out Periods. Anytime during the period July 1, 2013 – June 30, 2014 Opt-Out can be at anytime.*

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TRS Stable Contribution Option

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  1. TRS Stable Contribution Option

  2. Opt-In/Out Periods • Anytime during the period July 1, 2013 – June 30, 2014 • Opt-Out can be at anytime.* * Schools must resume payment of the actuarially required amount and are required to begin repaying any deferred amount. Must be reconciled within five years with interest.

  3. Deferred Employer Contribution Amounts Deferred Contribution (DC)= Actuarially Required Contribution – Stable Rate Contribution DC for years 1-5 will be amortized over a five year period with payments beginning in year six. DC for years 6 & 7 will be amortized over a five year period with payments beginning in year eight.

  4. Newark School District • * Will also have principal and interest payments for years one through five added to this. • ** This amount will change due to years 1-5 repayments

  5. Repayment Plan • Year 6: We will owe $1,666,081 plus interest (to be paid back over 5 years) plus the stable contribution rate for 2018-19 • Year 7: We be paying back part of the $1,666,081 and interest plus the stable contribution rate for 2019-20 • Year 8: We will be paying back part of the $1,666,081 from years 1-5 plus interest, plus part of $666,432 plus the actuarially required rate for 2020-21

  6. Questions

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