10.05.01: When to Take the First Deduction
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/addendum file reporting the new agreement or addendum 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.
You should wait one full pay period after the agreement has been signed to take the first deduction for one of your regular employees. This allows the information from your TDP agreement/addendum file to upload to the member’s account.
You should wait two full pay periods after signing the TDP agreement/addendum before taking the first deduction for an employee that 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