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Employer Newsletter
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January 2026
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TFFR's financial strength grows, unfunded liability reduced
 Each year, the TFFR Board of Trustees reviews an independent actuarial valuation to assess the plan’s financial strength. The most recent report shows encouraging results.
A key measure of the plan’s financial health is the funded ratio which compares the assets available to pay benefits with long-term obligations. In 2025, TFFR’s funded ratio improved to 73.4%, up from 71.6% in 2024. This increase reflects solid investment performance and disciplined funding practices.
As investment gains continue to reduce the plan’s unfunded liability, the estimated time needed to fully fund all benefits has shortened to 17 years. In addition, the plan’s long-term investment return assumption was lowered from 7.25% to 7.15%.
To learn more about the actuarial valuation, view the presentation and the report provided by Gabriel, Roeder, Smith & Company (GRS), TFFR's actuary and benefits consultant.
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Retirement Eligibility Reports are not currently available
The TFFR Retirement Eligibility Profile Report helps employers with workforce planning by providing a 30-year projection of member retirement eligibility and a list of potentially eligible individuals. The report is currently under development and is not available at this time.
RIO will notify employers by email when the report becomes available, along with instructions on how to access and run it.
Improper use of social security numbers is fraud
When you enroll and report an employee as a TFFR member, a Social Security number (SSN) is required. In some cases, such as for employees on certain visas (e.g., J-1 or H-1B), an individual may begin working before an SSN has been issued.
In such situations, do not create a placeholder SSN or use another individual's SSN to complete your TFFR reports. Doing so is considered fraud and may be punishable by law. Under NDCC § 15-39.1-29, anyone who knowingly falsifies records of the retirement fund in an attempt to defraud it is guilty of theft and subject to penalties under state law.
If you have a TFFR-eligible employee who has not yet received an SSN, contact RIO before submitting your report. Our Retirement Services team will work with you to ensure the employee is reported accurately and in compliance with the law.
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Tax treatment of TFFR contributions
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).
2026 IRS compensation limit released
Annually, the IRS issues a compensation limit that impacts the salary that can be reported to RIO for TFFR benefit calculation purposes. The 2026 compensation limit is $360,000.
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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Next MyTFFR Office Hours: Open Forum is on Feb. 4, 2026
RIO will host the next MyTFFR Office Hours: Open Forum on Feb. 4, 2026. Join us to ask questions, get guidance, and receive tips for using MyTFFR and navigating program requirements.
As one recent participant shared: “By tuning in today, I was able to correct my error. Thank you!” — Roxanne, Jan. 7, 2026, Open Forum
We encourage all of our business partners to attend the upcoming Open Forum, even if it's just to listen in.
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Managing your organizational contacts in MyTFFR
Business partners can add additional Organization Contacts in MyTFFR and assign them specific roles, including Contribution Reporting, Human Resources, Finance, Viewing, and Web Administration.
Tip: Be sure to assign the Web Administration role to appropriate contacts so they can submit contact tickets when needed.
For step-by-step instructions, refer to Create & Maintain Organization Information in the MyTFFR Employer Self-Service Handbook. Role descriptions are found in Appendix 1.
Empower members to manage their TFFR accounts
With the launch of MyTFFR, members now manage their own retirement account information through the Member Self-Service Portal. This includes updating their contact information and designating beneficiaries. As a result, employers no longer submit Member Action forms.
Encourage your employees to log in and explore MyTFFR. In addition to maintaining their account, members can:
- View salary, service credit, and account balance
- Purchase service credit
- Estimate or apply for retirement benefits
If assistance is needed, direct members to MyTFFR's Help Center or the Member Self Service videos on RIO's YouTube Channel.
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TFFR earns Public Pension Standards Award
The North Dakota Teachers’ Fund for Retirement (TFFR) has been recognized with the 2025 Public Pension Standards Award for Funding and Administration. The award is the benchmark for excellence in public defined benefit plans, evaluating standards of management, administration, and funding.
FY2025 annual comprehensive financial report available
RIO's FY2025 Annual Comprehensive Financial Report is a complete review of the financial, investment, and actuarial conditions of the agency's programs. The report provides a comprehensive overview of the financial, investment, and actuarial status of the two programs administered by RIO - the State Investment Board and TFFR.
RIO's FY2025 financial audit report released
RIO's FY2025 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. RIO continues to uphold the highest standards of fiduciary responsibility in service to its members and stakeholders.
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Retirement Reminders: preparing members for retirement
If you have teachers who are considering retirement, there are several steps they can take now to prepare for the application process:
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Log in to MyTFFR to review and update demographic information and confirm that listed relationships and beneficiaries are current.
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Use the Estimate My Benefit tool to review annuity options and confirm an anticipated retirement date.
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Gather the required documents including proof of age, resignation letter, and current teaching contracts.
Retirement is an exciting milestone. Using RIO’s Retirement Application Checklist can help members ensure their application process goes smoothly.
Timing reminder: RIO recommends members wait until they are within 60–90 days of their planned retirement date before submitting a retirement application.
Retirement application steps for employers
When a TFFR member submits a retirement application, RIO will email the employer with instructions to complete three required actions in MyTFFR:
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Submit a Salary Verification Card for the retiring member.
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Upload an Acceptance of Resignation using Upload a Document.
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Create an Enrollment in MyTFFR, selecting Termination as the enrollment type.
Important: These actions cannot be completed until MyTFFR prompts you. RIO’s email notification will include additional details and instructions.
For assistance, refer to the MyTFFR Employer Self-Service Handbook available on the TFFR Employer webpage, or use the Contact Us tile on your MyTFFR dashboard.
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Connections: meet a business partner and a team member
Sonya Larson, Kidder County Public School Business Manager
A little bit about me... Sonya Larson has served as the business manager for Kidder County Public School for the past 13 years. What she finds most rewarding about her role is working near students and supporting others. Whether she’s helping employees navigate life’s challenges or collaborating with fellow business managers, Sonya values connection, teamwork, and steady problem-solving.
Originally from Driscoll, ND, Sonya now lives in Steele with her husband, Jerrud, and their three boys. Much of her free time is spent cheering on her sons at sporting events, and she enjoys staying active whenever she can. Sonya loves vacationing with her family in warm, sunny destinations near the water and also enjoys downhill skiing with her boys. When she finds time to relax, her favorite author is Kristin Hannah.
What advice/tips would you offer other Business Managers?
“Plan your week day by day, stay on track, and don’t stress over what’s ahead or mistakes that can be fixed. Take a breath, focus on the present, and move forward one step at a time.”
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Chase Kauffeld, Chief Retirement Officer
Before joining RIO... Chase brings a diverse background in finance, public markets, auditing, and governance. Most recently, he worked at Independence Bank Trusts and Investments, serving institutions and individuals as a fiduciary. Earlier in his career, he helped modernize financial systems at a nonprofit and worked as a financial statement auditor.
Why RIO? “I was drawn to RIO’s mission of public stewardship, supporting the long-term financial security of North Dakota educators through operational excellence and strategic action. Serving as a fiduciary for educators and retirees aligns with my personal commitment to always act in stakeholders’ best interests. RIO is a complex and exciting agency that will continue to benefit North Dakotans for generations.”
What do you find most challenging? "The most challenging part of my role is balancing long-term objectives for managing TFFR with the day-to-day needs of multiple stakeholders. While challenging, it’s also incredibly rewarding. I enjoy combining analytical skills with practical judgment to guide TFFR decisions.”
Outside of work: Chase enjoys spending time with his family, staying active, and being outdoors. Golf and fishing give him great reasons to get outside, and he looks forward to exploring North Dakota with his family as they put down roots in Bismarck.
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Reporting Reminders
TFFR Employer webpage: resources to help business partners accurately report TFFR member salaries, contributions and service credit.
Fast Facts: an overview of the TFFR program includes a breakdown of contribution rates and membership tiers.
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MyTFFR Employer Resources
MyTFFR is a secure Employer Self-Service Portal where employers report and manage employer and employee contributions.
Getting Started with MyTFFR
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