TRS Update Newsletter - June 2025

Page 1


Reporting Employers

TEACHER RETIREMENT SYSTEM of TEXAS

Topic Legend

Reporting and Training for REs

2025 GASB Statement Now Posted

General Communications

GASB Statement 24- 2025 June Estimate

GASB Statement 67 and 68 – 2025

GASB Statement 74 and 75 – 2025

New TRS Headquarters Address

The Governmental Accounting Standards Board (GASB) schedules and supporting information for the measurement year ended Aug. 31, 2024 are now posted on the TRS website for Reporting Employers. REs should use these to prepare fiscal year 2025 financial statements. For additional information, please visit GASB Statements on the TRS website.

TRS completed the move to its new Austin headquarters location in May and began welcoming members to the new Member Center on May 20, 2025. The new mailing address is P.O. Box 149676, Austin, TX, 78714-0185 and the physical address is 4655 Mueller Blvd, Austin, TX 78723. Learn more on our website.

Reporting Terminations

As the school year ends, Reporting Employers (REs) can expect an increase in the number of individuals terminating employment. It is important to report all your employee terminations to TRS thoroughly and consistently. The termination record can affect many aspects of the employee’s account and result in additional adjustments if the RE reports incorrect termination information.

ED90 Submissions

REs must submit an ED90 (termination record) within the report month the employee receives their final pay. The ED90 should include the actual termination date and the final report month of TRS contributions (if applicable).

The termination date should reflect the last date the employer recognized the individual as an active employee. If the employee was working in a TRS-eligible position at any point of their employment, include the Final Report Month for which contributions will be made. This date (MM/YYYY) should represent the report month in which the employee was last paid with TRS-eligible compensation. If the employee did not work in a TRS-eligible position at any point in their employment, leave the Final Report Month field blank.

Reporting Terminations, continued

For employees who terminate in May or June but receive accrued compensation through the month of August, submit the ED90 record in the August ED report. For example, the termination date was June 1, 2025, but the final report month of contributions was reported as August 2025 due to the accrued pay issued during the summer months.

ED90 and RE Portal Certifications

Retirement Certification

When an RE receives a Retirement Certification, employers must complete both the certification and an ED90 termination record with the final month of eligible pay for eligible employment; or final month of pay if last position was ineligible. Please contact your RE Coach if you are unclear on what to report on a retirement certification.

Refund Certification

If you receive a Refund Certification for a terminated employee, please submit the required ED90 and the refund certification will drop from your worklist.

Employment History Final Report Month

Eligible Employment Only

Eligible and ineligible positions during employment

Month/Year employee received final eligible compensation for eligible position.

Month/Year employee received final compensation for the last eligible position held.

No eligible employment, RE has TRS Retirement Certification

The ED90 must include the termination date and final report month/year.

No Eligible Employment Leave blank.

Navigating Life Events With Ease

We all experience life and job changes that can be both exciting and challenging. These events often require updates to your account information and other essential actions. Keeping your information current ensures you receive timely support and services tailored to your needs. Visit our dedicated webpage for “Life and Job Changes” - it’s a comprehensive guide to assist in navigating these events.

TRS members will find “Terminating Employment” section of our Life and Job Changes webpage holds valuable answers to common questions like:

• How do I request a retirement estimate and packet?

• What is the retirement application time frame once I terminate employment?

• If I terminate employment, am I eligible for TRS-Care?

• If I terminate employment and retire, are there employment after retirement rules?

Explore the Life and Job Changes webpage today! Whether starting a new job, transitioning or planning for retirement, these events have a significant impact. We’re here to help you make the most of your benefits – in all ways possible – with each step forward.

Limits on Prior Fiscal Year Corrections

As we approach the end of fiscal year 2025, below are some reminders for making corrections to prior fiscal years through the RE Portal. We look at each year based on the TRS fiscal year (Sept. 1 – Aug. 31). This means for the current year, reporting employers would be limited to making corrections to five prior fiscal years.

Current Fiscal Year

FY 2025 (9/2024-8/2025)

Next Fiscal Year

FY 2026 (9/2025-8/2026)

1 FY 2024 (9/2023-8/2024) 1 FY 2025 (9/2024-8/2025)

2 FY 2023 (9/2022-8/2023) 2 FY 2024 (9/2023-8/2024)

3 FY 2022 (9/2021-8/2022) 3 FY 2023 (9/2022-8/2023)

4 FY 2021 (9/2020-8/2021) 4 FY 2022 (9/2021-8/2022)

5 FY 2020 (9/2019-8/2020) 5 FY 2021 (9/2020-8/2021)

Starting with fiscal year 2026, corrections will only be allowed for September 2020 going forward.

IMPORTANT: All fiscal year 2020 corrections need to be completed by Aug. 31, 2025. Please make sure to provide the information to your TRS coach in a timely manner to allow a full review and override to be processed before the deadline.

Corrections to One Prior Fiscal Year

Contributions withheld; not reported: If contributions were withheld at time of payment, but were not reported to TRS, an RE may make corrections, though an override will be required.

Contributions not withheld: If contributions were not withheld at the time payment was issued to the employee, corrections may be made by the employer if the member so chooses, provided that the person is still employed and has additional pay due to them. RE’s are not required to issue a correction in this scenario, but if the member does not have the corrections made, then they may have to pay the actuarial cost of the service if they wish to purchase service credit later.

Corrections to Two-Five Prior Fiscal Years

Contributions withheld; not reported: If contributions were withheld at the time of payment, but they were not reported to TRS, an RE may make corrections, though an override will be required.

Contributions not withheld: If contributions were not withheld at the time payment was issued to the employee, corrections through the reporting process are not permitted. Corrections of this type through the reporting system are allowed for the current fiscal year and one prior fiscal year only. If the employee wants to receive credit, they will need to have the appropriate form filled out by the Reporting Official to verify the service and/or salary and the form will need to be returned to TRS. The member will have to pay actuarial cost to purchase the service. Verifying the unreported service during this period will preserve the member’s ability to buy the service later.

Corrections to More Than Five Fiscal Years Prior

Once information has been reported on a member’s annual statement and five fiscal years have passed, the statement cannot be changed. Similarly, a member cannot have an employer verify the unreported time they worked to be able to purchase service rendered more than five fiscal years prior. Thus, any adjustments to more than five fiscal years prior are not permitted. This only includes adjustments to days that would result in a change in a year of service credit.

Texas Government Code 823.002 (a)(b) requires that TRS be notified on or before the last day of the fifth school year after the end of the school year in which the service was rendered for a correction to be made.

Exceptions:

• More than three years are involved in the correction

• If corrections are required as the result of fraud

If you have a situation and are not sure if corrections can be submitted in the portal, please reach out to your RE Coach for assistance.

The Rise of ClickFix Attacks: A New Cyber Threat

A new and deceptive threat has emerged in the cybersecurity landscape: the ClickFix attack. This sophisticated form of social engineering has rapidly gained traction, posing significant risks to both individual users and organizations.

What is a ClickFix Attack?

The ClickFix attack is a social engineering technique that tricks users into executing malicious commands on their own systems, often disguised as a routine CAPTCHA or bot verification prompt. This attack takes advantage of how people normally behave online, using their trust to sneak in harmful software — like programs that steal passwords, let hackers control your computer remotely or cause other damage.

How Does ClickFix Work?

The attack typically begins with a deceptive pop-up on a compromised or malicious website. This pop-up mimics a standard bot verification message, often displaying an “I’m not a robot” checkbox. Users are guided through three steps. It might look like a normal security check, like a CAPTCHA. But here’s the catch:

• Windows + R opens a special box on your computer that lets you run commands.

• Ctrl + V pastes a malicious command into that box — something you didn’t see.

• Pressing Enter runs the command.

If you run this, it could secretly download a virus or give a hacker access to your computer. As cybercriminals continue to refine their tactics, understanding and defending against threats like ClickFix is crucial to maintaining digital security.

SSA-1945 Form

The Impact of ClickFix Attacks

ClickFix attacks have been linked to several well-known malware families which have been designed to steal financial credentials, log keystrokes and grant remote attackers complete control over an infected device.

Defending against ClickFix

1. Never follow strange instructions from websites that ask you to press keys or run commands.

2. If something feels off, close the page and don’t interact with it.

3. Keep your antivirus and browser up to date.

The Social Security Administration (SSA) released a revised version of the SSA-1945 form, effective March 2025. This update aligns with the Social Security Fairness Act (SSFA), which continues to require state and local government employers to provide a statement to employees hired on or after Jan. 1, 2004, for jobs not covered under social security.

The Teacher Retirement System of Texas (TRS) retains the SSA-1945 forms for Texas public school employees. It is important for employers to ensure that employees complete and submit this form to TRS. Going forward, please ensure that newly hired employees complete the updated SSA-1945 form. The revised form can be accessed at the following link: SSA-1945 Form.

Completed forms should be mailed to: Teacher Retirement System of Texas, P.O. Box 149676, Austin, Texas 78714-0185.

Videos: Submitting a Report for Validation

Many people find that a video explanation is the best way to learn! Take advantage of more than a dozen informative videos in the TRS Employers Video Library to understand TRS processes and reports for reporting employers.

Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.