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Active Member News
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April 2025
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Since last fall, RIO has experienced some significant changes to operations, legislative initiatives, and member service offerings. The following highlights the activities shaping the future of TFFR’s pension program.
Legislative Update
During the 69th Legislative Session, RIO tracked three bills impacting TFFR:
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HB 1117: Aligns North Dakota’s Required Minimum Distribution rules with the federal SECURE 2.0 Act. The bill was signed into law March 24, 2025.
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SB 2134: Allows the Superintendent of Public Instruction and State Treasurer to appoint designees to serve on the TFFR Board. The bill was signed into law March 24, 2025.
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HB 1285: Proposed a one-time supplemental payment to TFFR retirees. Failed in the House on Feb. 11, 2025 (88–3 vote).
Internal Investment Initiative
During the prior session, lawmakers approved a plan to manage a portion of the State Investment Board's (SIB) $23 billion portfolio in-house. By reducing the reliance on external fund managers, the initiative is projected to save the SIB's pension clients, including TFFR, $6 million in its first year with increased savings over time.
TFFR’s Path to Full Funding
Since 2013 reforms, TFFR has steadily advanced toward full funding. As of FY2024, the plan is 71.6% funded with projections showing full funding by 2043, ensuring the long-term stability of educators’ retirement benefits.
Leadership Transition
RIO Executive Director Jan Murtha stepped down on Jan. 3, 2025, after more than four years of impactful leadership. Jodi Smith, former Commissioner of Trust Lands, has been appointed interim director while a national search is underway.
Introducing MyTFFR: A New Era in Pension Administration
On Feb. 10, 2025, RIO launched MyTFFR Member Self Service, a modern pension administration system. Delivered on time and under budget, MyTFFR enhances transparency and offers powerful self-service tools.
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Welcome to MyTFFR Member Self Service
RIO is excited to introduce MyTFFR Member Self Service, a secure and convenient portal for managing your TFFR account.
How can active members use MyTFFR?
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In addition to viewing salary, service credit and account balances, active members can use MyTFFR to manage their retirement account.
- Update your contact information
- Designate account beneficiaries
- Purchase service credit
- Estimate your retirement benefit
- Apply for retirement
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MyTFFR help, "how to" videos, and requests for assistance
For step-by-step user guidance, after logging into MyTFFR, select the "Help" button on the lower right-hand side of your screen to access the Member Help Center. Alternatively, "how to" videos are available on RIO’s YouTube Channel.
To submit a request for assistance, once logged into MyTFFR, select the “Contact Us” tile on MyTFFR’s Dashboard.
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Understanding retirement eligibility: Rule of 85 vs. 90
Retirement eligibility for TFFR members is based on meeting either the Rule of 85 or the Rule of 90.
- Rule of 85 – age plus years of service equals 85 or more.
- Rule of 90 – age plus years of service equals 90 or more.
When do TFFR members qualify for unreduced retirement?
All TFFR members qualify for a full, unreduced retirement benefit at age 65. Based on their member tier, some members are eligible for full retirement earlier.
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Tier 1 Grandfathered Members – Vested (3 years of service credit) and were within at least 10 years of normal (unreduced) retirement on June 30, 2013. Members are eligible for unreduced retirement under the Rule of 85.
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Tier 1 Non-Grandfathered Members – Vested (3 years of service credit) but did not qualify for grandfathering. Members are eligible for unreduced retirement at age 60 if they meet the Rule of 90.
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Tier 2 Members – Vested (5 years of service credit) and enrolled on or after July 1, 2008. Member eligible for unreduced retirement at age 60 if they meet the Rule of 90.
Can TFFR members retire before meeting their rule?
Yes, members can retire as early as age 55 with a reduced benefit:
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Tier 1 Grandfathered Members – 6% per year reduction.
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Tier 1 Non-Grandfathered and Tier 2 Members – 8% per year reduction.
Plan for Your Retirement
Understanding your retirement eligibility can help you make informed decisions for a secure future. Log in to MyTFFR to learn your tier and estimate your retirement benefit. Need assistance? Use the "Help" button on MyTFFR's dashboard to access the Member Help Center or watch a "how to" video on RIO’s YouTube Channel.
Secure your future with a 457 Deferred Compensation Plan
Whether you're just starting your career or approaching retirement, supplementing your TFFR retirement benefit with a 457 Deferred Compensation Plan can provide added security and flexibility. It allows you to boost your retirement savings and lower your current taxable income. Upon retirement, a 457 account provides flexible withdrawal options.
Who is eligible?
A regularly funded, permanent TFFR member who is working at least 20 hours a week for 20 or more weeks a year, can participate in NDPERS 457 Deferred Compensation Plan.
How do I get started?
Step 1: Contact your employer to ensure they offer the NDPERS 457 plan.
Step 2: Choose the provider who will help you begin your investment journey.
- Companion Plan (Empower) - your funds will be automatically invested in the lifecycle funds based upon your estimated retirement date or you can manage your own investments.
- Other Providers – you must select an authorized representative from the Investment Providers list and give them your personal information so they can set up your account. You must have your account set up before your first payroll deduction occurs.
Step 3: You may voluntarily increase, decrease or stop elections at any time through NDPERS Member Self Service.
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 TFFR continues to make steady progress toward long-term financial health. At its November 2024 meeting, the Board of Trustees reviewed the annual actuarial valuation report prepared by GRS, the fund’s actuary.
A key highlight of the report is the funded ratio—a measure comparing the plan’s assets to its liabilities (benefits owed to members and beneficiaries). In 2024, the funded ratio increased to 71.63%, up from 71.21% in 2023, reflecting positive momentum.
Investment performance plays a major role in TFFR’s financial outlook. The fund assumes an average long-term return of 7.25%, with higher returns boosting the fund’s health and lower returns creating short-term challenges.
Retirement funding is a long-term commitment, with benefits paid out gradually over time. Based on the latest valuation, TFFR remains on track to reach full funding by 2043.
For a deeper dive into the actuarial valuation, visit the Publications tab on RIO’s website to access the full report and GRS’s presentation.
Fast Facts answers common questions quickly
TFFR's pension program provides ND educators with the foundation for a secure and stable retirement. Curious about the status of the fund, how many members RIO serves or how much was distributed to retirees in FY2024, Fast Facts answers common questions.
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Are you due for a financial checkup?
Sometimes, you might find yourself so busy helping others that you forget to watch out for yourself, especially in financial matters. Things like how to plan for retirement, how to be prepared for emergencies, and how to get your finances in tip-top shape.
Well, we have good news!
The State of North Dakota provides something to help you help yourself. It’s called Smart with My Money, a website built to help North Dakotans be, as the name says, smart with their money. It’s filled with handy tools and information to make complicated things less complicated and smart financial decisions easier to make.
Plus, it's free - not even a co-pay - so you’re already off to a great start! Visit Smart with My Money and start getting smarter today!
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Ready to retire? How to start the application process
Retirement is an exciting milestone and taking it step-by-step can help you navigate the process smoothly.
Get Ready to Apply
Gather the necessary information before starting your application.
Apply for Retirement
If you pause during the application process, MyTFFR may time out requiring you to restart.
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Login to MyTFFR and select the "Apply for Retirement" tile.
- Track your application's progress by selecting the "Apply for Retirement" tile.
- After reviewing your application, RIO will send you an enrollment form. Notarize and return it to receive your first payment date.
For assistance, once logged into MyTFFR, select the "Help" button to access the Member Help Center. "How to" videos are also available on RIO's YouTube Channel.
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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
Transition to new leadership
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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Pension program receives performance awards
TFFR’s pension program earned the 2024 Public Pension Standards Awards for Plan Funding and for Plan Administration from the Public Pension Coordinating Council. The award is the benchmark for excellence in public defined benefit plans, evaluating standards of management, administration, and funding.
RIO's 2024 Annual Comprehensive Financial Report is a complete review of the financial, investment, and actuarial conditions of the agency's programs.
In case you missed it . . .
"RIO successfully goes live with modernized Pension Administration System," RIO news
"Application period open for Band/Orchestra and Choral programs," Governor's ofc news
"Superintendent Kirsten Baesler nominated as Assistant Education Secretary," DPI news
"Newly Adopted Reading Standards for Teacher Education Programs," ESPB news
"Certificate Allows High Schoolers To Work as Classroom Aides," DPI news
"Bergrud Named 2025 ND Teacher of the Year," DPI news
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TFFR's administrative staff
Jodi Smith, interim executive director
Chad Roberts, deputy executive director/
chief retirement officer
Denise Weeks, retirement program mgr.
Jayme Heick, retirement specialist
Denise Leingang-Sargeant, retirement
specialist
Rachelle Smith, administrative assistant
Mensah Anyide-Ocloo, member specialist
Sarah Mudder, communications and
outreach director
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TFFR board of trustees
Dr. Robert Lech, president, active
Mike Burton, vice president, retired
Alexis Rasset, trustee, active
Cody Mickelson, trustee, active
Scott Evanoff, trustee, retired
Kirsten Baesler, state superintendent
Thomas Beadle, state treasurer
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Other forms of this newsletter are available upon request.
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Our Mission: "To provide prudent and transparent investment services for our client funds and support North Dakota public school educators with responsible benefit administration." |
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