Teacher Retirement System of Texas
You become a TRS member on the 1st day of eligible employment.
TRS is a 401a –Defined Benefit Plan
The 86th Texas Legislature passed Senate Bill 12 – The TRS Pension Reform bill to make the TRS pension fund actuarially sound. It provides for gradual contribution increases from active members; the state; school districts, charter schools, and regional education service centers. The contribution rate increase for active members will take effect on September 1, 2021. It will increase from the current 7.70% of eligible compensation to 8.00% in 2021 and finally 8.25% on September 1, 2023
Effective State Contribution Rate District Contribution Active Member Contribution Rates September 1, 2019 7.5% 1.5% 7.7% September 1, 2020 7.5% 1.6% 7.7% September 1, 2021 7.75% 1.7% 8.0% September 1, 2022 8.0% 1.8% 8.0% September 1, 2023 8.25% 1.9% 8.25% September 1, 2024 8.25% 2.0% 8.25%
Additionally, you also contribute 0.65% of your salary and the District contributes 0.75% of your salary towards TRS–Care, the retiree group health benefits program.
Your TRS account earns interest annually that is applied to your account on August 31st of each year. Interest on your contributions beginning September 1, 2014 will be computed at the rate of 2% a year.
You have the option to purchase special service credit (If you would like additional information on Special Service Credit Purchase, visit the Teacher Retirement System website at www.trs.state.tx.us click on publications and then go to TRS Service Credit Brochure.
Survivor Benefits become effective on the first day of TRS–covered employment. It is important to provide beneficiary information to TRS as soon as you become TRS eligible.
Do you know when you can retire?
First question is, “Are you Grandfathered?” (2005 Legislation)
You are a grandfathered member if you met at least one of the following criteria as a member of TRS before September 1, 2005:
- You were at least 50 years of age,
- Your age and years of service credit totaled at least 70, or
- You had at least 25 years of service credit
WHAT IS MY TIER?
Changes to the retirement plan over the years have resulted in several distinct membership categories, each with its own retirement eligibility requirements and early-age reductions.
TRS has identified membership tiers that correspond to the different categories of membership to help you better understand the requirements and reductions that apply to you. The membership tier that applies to you is determined by the date you entered your current TRS membership; by your “grandfathered” status; and by the amount of service credit you have on August 31, 2014. .
Request for Estimate of Retirement Benefits
If you wish to request a retirement estimate, you must login to MyTRS.
If you do not have a MyTRS User ID and password, you will need to register here.
Or Print, manually complete, and mail TRS Form -18 - Request for Estimate of Retirement Benefits, if you are retiring in more than 12 months but less than 5 years.
Did you know that you can create your own estimate of retirement benefits by using one of the Retirement Estimate Calculators on the TRS website? You can use the calculators to estimate your benefits for any potential retirement date. If you do not plan to retire for 5 or more years, the calculators are your best tool for estimating future benefits. Click here to go directly to the calculators on the TRS page.
Your Social Security Retirement Benefits May be Reduced
To find out more information on the USA Government Provisions that may affect any Social Security Retirement Benefits you may be entitled to, visit the Social Security Website and view these two provisions. If you have any questions, contact Social Security directly at 1-800-772-1213. Social Security can provide individual assistance by viewing you specific account and therefore can provide you with accurate information on any benefits you may be entitled to.
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