Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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Before you take the first deduction, it's important that all information regarding your reporting unit as the employer is posted to the employee's retirement account and that the TDP agreement has been received by ORS. This ensures that when the first deduction is reported to ORS, it will successfully pass through the edits and validations process and post to the employee's retirement account.
For current employees: You should wait one full pay period after the agreement has been signed to take the first deduction. This allows the information from your tax-deferred payment (TDP) agreement/addendum file to upload to the employee's account.
For new employees: You should wait two full pay periods after signing the TDP agreement/addendum before taking the first deduction for an employee who is new to your school. This allows a retirement detail report that includes wages and hours for this new employee and the information from your TDP agreement/addendum file to upload to the member's account.
Last updated: 04/13/2012