In October, many TRS members will receive a lump-sum retroactive payment under the United Federation of Teachers’ collective bargaining agreement. Often, members receiving such a payment choose to increase their TDA contribution rate in advance, because the additional pay provides a rare opportunity to make a large one-time deposit into their TDA Program account.
The retroactive payment is scheduled for the October 16 payroll. So, if you want to increase your TDA contribution rate in advance, TRS must receive your election by this Saturday, September 16. (This deadline was extended to Thursday, September 21 at 9:00 AM.)
To change your TDA contribution rate, log in to the secure section of our website. Rate changes always take effect on the next available payroll, and the online "Change Rate" feature displays which payroll that will be.
Remember, your new TDA contribution rate will remain in effect until you change it, so you'll probably want to make another online rate change in time for the following payroll.
The general TDA contribution limit for 2017 is $18,000, but exceptions apply. For more information, please review our TDA Program Summary.