Chapter 4: Reportable Compensation
TRS Reportable Compensation
NonMoney Maintenance Compensation for Plan 1
Employees may receive nonmoney items from employers that may be a form of payment for services rendered. "Nonmoney maintenance compensation" means the fair market value of materials legally furnished by an employer to an employee or the employee's dependents for personal use. If an employer provides materials for an employee's personal use, the value of that use is nonmoney maintenance compensation and may be reportable for TRS Plan 1 members.
Example:
An employer leases an apartment for $700 per month. The employer charges an employee $300 per month to use the apartment for temporary living quarters. Because the employee uses the apartment for personal rather than business purposes, the amount by which the lease value exceeds his payment is nonmoney maintenance compensation. His employer must report $400 per month to DRS as reportable compensation.
Note: Nonmoney maintenance compensation is not reportable for TRS Plan 2 or TRS Plan 3 members