Briefly

View pdf version of the January 2005 Briefly

Employer Newsletter
ND Retirement and Investment Office
1930 Burnt Boat Drive, P.O. Box 7100
Bismarck, ND 58507-7100
701-328-9885 or 1-800-952-2970
www.discovernd.com/rio

January 2005

Did you know?

TFFR can provide information on the following:

Contract Negotiations

TFFR representatives are available to answer questions concerning Employer Payment Plan models. We can provide examples of how changing models could impact your district and teachers.

Retirement Eligibility Profiles are also available. This report gives the employer a detailed 30-year projection regarding TFFR member retirement eligibility.

District Closures or Consolidations

If your district is consolidating, closing, or going to a non-operating status, please notify us in writing.

The "Teachers in Transition" outreach program is designed for teachers that may be displaced due to a school consolidation or closing. If you need more information about the program, please give us a call.

Retirement Education

In an effort to keep employers and members informed about the TFFR retirement plan, the following retirement education services are available. These programs are free of charge and can be scheduled by contacting the administrative office.

• Group presentation
• Preretirement seminar
• Financial planning seminar
• One-on-one benefits counseling
• Teachers in transition program
• Retirement 101

Legislative Update

Enclosed is a summary of the 2005 proposed legislation affecting TFFR. To follow the status of these bills, check out our website at http://www.discovernd.com/rio.

Notification of School District Change

A Notification of School District Change form must be filed with TFFR when a district has a change in name, superintendent, administrator, business manager, individual preparing the report (if not the business manager), address, telephone number, fax number, or e-mail address. This will ensure we have current information on file when corresponding with each district.

Model Usage

Link to an image of the Model Usage graph and/or read the data below.

Non-Social Security Covered Employers

Effective January 1, 2005, the Social Security Protection Act (SSPA) of 2004 requires state and local government employers when hiring an individual into a non-Social Security covered position to complete form SSA-1945. The employer must provide the individual with the notice explaining the benefit from the Social Security covered work might be reduced because of the non-Social Security covered work. The individual must sign the notice before starting work. The employer must send the signed notice to the retirement system that covers the individual (TFFR).

For additional information, contact the local Social Security office or visit the Social Security website: http://www.ssa.gov/gpo-wep.

2004 Annual Financial Report Available

The Retirement and Investment Office's Comprehensive Annual Financial Report (CAFR) may be viewed from our website, www.discovernd.com/rio, or a copy may be requested by contacting the administrative office. This report is a complete review of the financial, investment, and actuarial conditions of the State Investment Board and the Teachers' Fund for Retirement.

Report Card

Who is new to the TFFR board? What is going on in legislation? Actuarial Report results? These questions and more can be answered in the enclosed Report Card. Take a look!