Illinois TRS Supplemental Savings Plan Update

Franczek P.C.
Contact

Franczek P.C.

Earlier this week, TRS issued an Employer Bulletin and a post in the Employer/Supplemental Savings Plan portion of its website regarding employer participation in implementation of the Plan.  We are reviewing the new information, with particular attention to the revised employer participation agreement, the recommended resolution and the revised Plan document.  We expect to complete the review and issue another Alert by early next week.  At this point, it appears that TRS has not established a hard deadline for action by school districts and we recommend not taking any action until the new documents have been thoroughly analyzed.  There were substantial problems with the documents issued by TRS last spring which we raised with TRS over the summer and earlier this fall.   A close analysis of the new documents is appropriate to assess the extent to which, if at all, those problems have been addressed by TRS and what options exist if they have not been adequately addressed. 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Franczek P.C. | Attorney Advertising

Written by:

Franczek P.C.
Contact
more
less

Franczek P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.