Skip to main content

10.04.05: Submitting multiple TDP deductions on one DTL3 record

10.04.05: Submitting multiple TDP deductions on one DTL3 record

You can report a one-time, lump-sum tax-deferred payment (TDP) deduction that represents a payoff of multiple summer pay periods. When you pay out summer wages (the last five to seven pay cycles of the school year) in one paycheck, you can submit one DTL3 record reporting TDP deductions for those pay cycles.

The deduction must equal the scheduled deduction amount multiplied by the number of pay cycles combined into that paycheck. However, if the remaining balance is less than up to seven times the scheduled deduction, then the remaining balance amount can be submitted.

If the deduction amount does not match the scheduled deduction (multiplied by five, six, or seven) or the exact balance on the TDP agreement, the record will not post.

Note: The summer pay deduction increase can only occur one time per year, per employee and cannot have additional summer TDP payments reported. This increased TDP deduction amount will post only for TDP payments included in retirement detail reports with report end dates no earlier than May 15 and no later than July 15. If you have summer payoff deductions that don't meet these criteria, please contact Employer Reporting.

Last updated: 05/30/2017