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TFFR Employer Newsletter
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Briefly, January 2025
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The Day is Almost Here: MyTFFR Launches Feb. 10, 2025
Responses may be delayed due to limited staff availability
During this busy transition period to our new pension administration system, TFFR business partners and members in need of assistance are encouraged to contact retirement services by email. If the issue is time sensitive, please call (701) 328-9885 or (800) 952-2970 during office hours: Monday-Thursday, 8:00 a.m.-5:00 p.m., and Friday, 8:00 a.m.-12:00 p.m.
The long-awaited launch of our new pension administration system, MyTFFR, is almost here! The RIO staff extends a heartfelt thank you for your invaluable assistance over the past few months in testing the system's employer functions. Your support has been crucial to this process.
Blackout Period, Submission Deadlines
As part of the system launch, there will be a blackout period during which no new data will be entered into the old system. This is to allow our staff time to reconcile accounts and our software vendor to transfer existing data into the new system.
- All outstanding reports and payments must be submitted through the current system by 5:00 p.m., Jan. 15, 2025.
- Reports and payments not submitted by this date will only be accepted after the launch on Feb. 10, 2025, and then must be submitted through the new system.
Progress in Business Partner Testing
We’ve made significant progress in business partner testing, and we’re grateful for your continued engagement. Here’s the latest update:
- Software Unlimited customers: testing is progressing well, and most errors have been resolved. If you haven’t yet submitted a contribution and enrollment file in the new system’s test environment, we encourage you to do so now.
- RDA Systems customers: we are excited to share that the first successful business partner test was completed earlier this week. RDA customers should have received an email invitation from RIO to begin submitting test files and to participate in a MyTFFR Office Hours session for any needed assistance.
- Tyler Technologies customers: significant progress has been made in testing, and Tyler Technologies continues to address the errors identified.
- Manual Reporters: we haven’t forgotten about you! Training tailored to your needs will be provided once MyTFFR is live.
Looking Ahead
This journey has been over three years in the making, and we appreciate your patience and partnership along the way. The new MyTFFR system is designed to simplify and enhance reporting for everyone, and we are confident it will deliver on that promise.
Thank you for sticking with us on this adventure—we’re almost there!
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Model 2 Partial moves to full percentages on July 1, 2025
Beginning July 1, 2025, member contributions to TFFR that are paid by an employer must be in full percentages (e.g., an employer may contribute 1% or 2%). Employers will no longer be able to make partial contributions (e.g., an employer cannot contribute 1.5%). As long as contribution are in a full percentage increment, employers can continue to make member contributions for employees.
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Improper use of social security numbers is fraud
When you set-up and report one of your employees as a TFFR member, you are required to provide a social security number (SSN). If that employee is a visa holder (i.e., J-1, HB-1), the employee may begin working before they are assigned a SSN.
Do not make up a SSN or use another individual's SSN to complete a TFFR report. It’s fraud and may be punishable by law. NDCC § 15-39.1-29 states, “Any person who knowingly makes a false statement or falsifies or permits to be falsified any record or records of this retirement fund in any attempt to defraud such fund as a result of such act, is guilty of theft, and is punishable therefore under the laws of the state of North Dakota.”
If you have a TFFR eligible employee who is waiting for a SSN, contact RIO. Our retirement services staff will work with you to make sure the individual is reported correctly.
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Employers may report TFFR contributions on the W-2 form. TFFR is a 401(a) defined benefit plan, and its contributions are mandatory, not elective.
Under all models, the amount of TFFR contributions withheld or paid by the district is not required on the W-2 form. However, if a district wishes to place this information on the W-2, it belongs in Box 14 (i.e., Other).
Annually, the IRS issues a compensation limit that impacts the salary that can be reported to RIO for TFFR benefit calculation purposes. The 2025 compensation limit is $350,000.
If you have any TFFR members who will earn in excess of this amount, please contact RIO’s retirement program manager to discuss how to handle the salary reporting for these employees.
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GASB 68 information will be posted, employers notified
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The audited FY2024 GASB 68 information including Employer Allocations and Pension Amounts by Employer Schedules, GASB 68 Disclosure Template, and Sample Journal Entries will be posted on RIO's website in January in conjunction with the TFFR board meeting. Employers will be notified by email when the documents are available. |
Retirement eligibility report available by request
Upon request, RIO can provide school districts with a TFFR Retirement Eligibility Profile report that includes:
- A 30-year projection of TFFR member retirement eligibility.
- Names of individuals for workforce planning purposes. (A reminder that personal information must be kept confidential.)
If you are interested in receiving a profile report for your district, contact RIO.
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Actuarial valuation of pension plan reviewed
Actuarial valuation reports track TFFR’s funding progress. At its November 2024 meeting, the TFFR Board of Trustees reviewed the annual valuation report prepared by GRS, the fund’s actuary.
The report evaluates the fund’s financial health using the funded ratio, which compares the plan’s total liabilities (i.e., benefits owed to members and beneficiaries) to the value of its assets. In 2024, the funded ratio improved to 71.63%, up from 71.21% in 2023.
Investment returns significantly impact the fund’s financial health. TFFR assumes an average long-term return of 7.25%. When returns exceed this target, the fund experiences a financial gain. When returns fall short, the fund incurs a financial loss.
Retirement plan funding is a long-term commitment, as liabilities are not due all at once. Based on the current valuation, the contribution rates are expected to fully fund TFFR by 2043.
If you are interested in learning more about the actuarial valuation, GRS’s presentation and the report are available on RIO’s website under the publications tab.
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SIB elects Armstrong as chair, approves RIO interim director offer, and launches executive search
At a special meeting on Jan. 3, 2025, the State Investment Board (SIB) elected Gov. Kelly Armstrong as its chair, reaffirming the board’s commitment to strong leadership. The board also voted to offer Jodi Smith (pictured on the left) the position of interim executive director of RIO. Smith will oversee agency operations, including coordinating the activities of the SIB and TFFR. Read More
SIB and RIO will transition to new leadership for 2025
The SIB recognized outgoing leadership at its Nov. 22, 2024, meeting, extending its appreciation to two board members and RIO’s executive director for their impactful work on behalf of North Dakota citizens. Read More
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TFFR earns pension standards awards
TFFR's pension program earned the 2024 Public Pension Standards Awards for Funding and Administration from the Public Pension Coordinating Council (PPCC). The award standards serve as a benchmark to measure public defined benefit plans, reflecting the expectations for public retirement system management, administration, and funding.
RIO's FY2024 Annual Comprehensive Financial Report is a complete review of the financial, investment, and actuarial conditions of the agency's programs.
FY2024 financial audit report released
RIO's FY2024 financial audit contains an unmodified and clean opinion. This independent evaluation of our financial statements, operations, and internal controls helps to ensure transparency and accountability.
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Connections: meet a business partner and team member
Mark Lemer, former West Fargo Public Schools Business Manager
A little bit about me . . .
My name is Mark Lemer. Before my retirement in 2019, I was the business manager for 22 years at West Fargo Public Schools. Since my retirement, I have been working part-time as the school district’s construction coordinator.
I grew up on a dairy farm near Drake, ND, and I graduated from Minot State University with degrees in Math Education and Computer Science. I worked as a teacher for two years in Riverdale before becoming the business manager in Williston for two years. I also worked for the Department of Public Instruction for four years prior to my employment in West Fargo.
What is your favorite hobby?
Since my retirement, I have become an enthusiastic bridge player. I play at least once each week with a great group of friends. This has become one of the activities that “fills my bucket” with lots of fun, laughter, and camaraderie.
What is your favorite (book, author, tv show, or movie)?
I have also had a keen interest in reading for my entire life. My interests in reading material tend towards science fiction and fantasy. Several years ago, I made the conversion from print to digital, which was a bit of a surprise to me as I had always enjoyed the feel of a book in my hands. However, the convenience of digital was hard to pass up. If you have your phone with you, then your latest book is with you too! Some of my all-time favorite books were the Earth’s Children series by Jean M. Auel. The most famous of those was The Clan of the Cave Bear, which was adapted into a movie.
What did you like best about your job?
As far as work is concerned, I really did love my job. I was blessed to work with several wonderful superintendents as well as many other great staff. The school district grew by leaps and bounds during my tenure, so I was able to participate in the construction of nine elementary schools, three middle schools, two high schools, an ice arena, aquatics facility, transportation center, and district office building. While these projects added additional work to an already busy job, there was no doubt that they were the highlight of my career.
Most recently, work provided me with the opportunity to be the project manager for the district’s conversion to a new accounting system. While the conversion process was not without its complications, it was a personal accomplishment for me, and a substantial accomplishment for our finance, payroll and human resources teams when we went live this past July 1st with minimal issues.
What advice/tips would you offer Business Managers?
If I could give one piece of advice to other business managers, it would be to lean on your peers in other school districts and build a network for sharing information. I relied on the expertise and experience of my counterparts in other school districts throughout my career. I was always amazed at what I could learn from others in the field. Share what you know and ask for help with the things you don’t know!
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Jayme Heick, Retirement Program Specialist
Tell us about life before you joined the RIO team?
Before I joined RIO, I worked in marketing for a long-term care community, the finance department at the Diocese of Bismarck (helping with their priest pension fund), human resources for a healthcare system, and was a small business owner. I enjoyed each position and gained valuable experiences that I have been able to use working in RIO’s retirement service division.
What is your educational background?
My education is in business management with my most recent degree of an MBA. I am also certified to teach English abroad or online. I have experience with retirement plans, human resources and recruitment, and sales and marketing.
Why did you choose to work for RIO?
After interviewing with the agency almost five years ago, I learned the staff at RIO had a passion to support ND public school educators. The agency values of integrity, accountability, and service aligned with my own. I love interacting with teachers and administrators along with problem solving with them on the challenges that face our educators, dealing with both everyday work and retirement.
What aspects of your job do you find the most challenging?
One of the challenging aspects of the Teachers’ Fund for Retirement program is helping retired teachers and administrators navigate returning to work when there are teacher shortages.
What do you enjoy doing in your free time away from work?
Away from work I am busy with mom life. I have three daughters ages 15, 13, and 12. Between getting them where they need to go, watching their efforts, ensuring they are fed, and hugging and snuggling them I try to find time for my other loves of reading, movies, and card playing. Pinochle anyone?
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MyTFFR Employer Resources
Launching on Feb. 10, MyTFFR is a new Employer Self-Service Portal for reporting and managing employer and employee contributions. Resources to help TFFR's Business Partners prepare for launch are available on RIO's website.
Watch your email for MyTFFR Office Hours, an open forum offering support.
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