One of the cool new things about Analysis Services in SQL 2005 is the ability to define your time dimension from a wizard.
In BIDS you just enter what dates from and to, if you want a Fiscal Calendar and then what levels
e.g. Days > Weeks > Months > Years or Months > Quarters > Half Year > Years
It will create the hierarchy for you in AS but the really cool thing is that you can then push that information back to your SQL database. The Schema update wizard will create and populate a table in SQL for you containing all the information from the wizard.
Nothing to stop you then using this new tabe to create your time hierarchies in TM1 using Turbo Integrator......