Connecticut Teachers' Retirement Board

Acceptable Payment Policy

We will accept
  • member’s check drawn on an individual checking account in the member’s name;
  • bank check, or money order signed by the member;
  • direct rollover from another of the member’s retirement accounts, subject to rollover Acceptance Policy;
  • check drawn on a joint checking account if the member is one of the names on the account, provided that the member signs the check;
  • funds that a member has withdrawn from another retirement account (such as an Individual Retirement Account) and has deposited into their bank account will be accepted by the Teachers’ Retirement Board only as post-tax funds, not as a rollover of pre-tax funds.
Unacceptable items include but are not limited to
  • payments received and/or postmarked after the due date;
  • rollover from anyone else’s (including the member’s spouse) retirement account;
  • check drawn on an account not in the member’s name;
  • check payable to the member but endorsed on the back as “payable to TRB”;
  • incomplete check (missing date, signature, or amount);
  • check drawn on a joint checking account not signed by the member (even if signed by the joint account holder);
  • check from business/corporate entities or trusts, even if the member’s name appears in the entity’s name (e.g., the member is John Doe and the name on the check is “John Doe Enterprises” or “John Doe & Co.”);
  • check without documentation that identifies the member and substantiates the purpose of the payment;
  • post-dated check.

We will return unacceptable items to the member uncashed or will refund them to the member as unacceptable funds.