TEACHER RETIREMENT SYSTEM OF TEXAS

You become a TRS member on the 1st day of eligible employment.

Beginning with the 2011-2012 school year, a member must work or be on paid leave for a minimum of 90 days to earn a year of TRS service credit. The only exception is in the last school year before a member retires. In this case, the member will earn a year of service credit if they complete the full fall semester.

Beginning with the 2012-2013 school year, all TRS members will use a standardized school year of September 1 through August 31 for TRS benefit purposes. This means that TRS service credit and creditable compensation will be determined on a September 1 – August 31 basis.

Do you know what benefits will be available to you through TRS at retirement?

TRS is a 401a -Defined Benefit Plan in Lieu of Social Security

• As a member you contribute 6.4% & 0.65% for retiree health insurance (TRS-Care)

• The State contributes 6% to TRS and 1% for TRS-Care
• District contributes .55% for TRS-Care
• Your TRS account earns 5% interest annually and is applied to your account on August 31st of each 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?

Normal Age Service Retirement Eligibility

Early Age Service Retirement

Let's calculate a Benefit at Retirement

Example based on Average salary of $36,500 for highest 5 annual salaries

________$36,500________
Average of Highest 5 Annual Salaries

__28__   X   2.3%   =   ___64.4%___
Total Years of Service Credit                             Total %

___$36,500__ X _ __64.4%___ = $23,506
               Average Salary       Total %            Standard Annuity

$23,506    /   12   =  ___$1,958.83 Monthly Standard Annuity

Retiring this year? Things to Consider:

• Effective date of retirement
• June 15th rule
• Credit for the year and/or full annual salary
• Application for retirement deadline

Effective date of retirement:

Your retirement is effective no earlier than the last day of the month in which you terminate your employment.

June 15th rule:

If you must work into the month of June but no later than June 15 to complete work required for the school year, you may establish a May 31 retirement date provided TRS receives your retirement application no later than July 31 and you terminate employment on or before June 15.

Credit for the year and /or full annual salary:

If you choose to retire mid-year and worked or received paid leave for the full fall semester, you may receive credit for the year; however, your partial year salary would not be used in the calculation unless it represents one of your highest three or five salaries.

If you choose to retire at the end of your contract year or work agreement, you are more likely to receive credit for the year and your full year salary will be used in the calculation of your benefits if it represents one of your highest three or five year salaries.

Beginning with the 2011-2012 school year a member must work or be on paid leave for a minimum of 90 days to earn a year of TRS service credit. The only exception is in the last school year before a member retires. In this case, the member will earn a year of service credit if they complete the full fall semester.

Beginning with the 2012-2013 school year, all TRS members will use a standardized school year of September 1 through August 31 for TRS benefit purposes. This means that TRS service credit and creditable compensation will be determined on a September 1 – August 31 basis.

Application for retirement deadline:

If you want your retirement to be effective January 31 and you terminate your employment by January 31, TRS must receive your retirement application by March 31

Where do I start?

You may visit Human Resources/Employee Benefits for a TRS 18 Form or you may visit the TRS Web Site at www.trs.state.tx.us.  Once the form has been completed and submitted and received by TRS, you will receive your TRS retirement packet within two-three weeks.

You may contact Carolina Figueroa at (915) 230-2068 or Julie L. Camacho at (915) 230-2063 for an Exit Interview appointment. During your Exit Interview you will be provided with assistance in completing the TRS Forms included in your TRS retirement packet.

*It is your responsibility to confirm with TRS, receipt of your retirement packet. Only TRS can acknowledge receipt of the required forms and confirm your retirement date. EPISD is not responsible for any documentation not received by TRS, in accordance with TRS retirement date deadlines.

If you would like additional information regarding your retirement benefit, visit the Teacher Retirement System website at www.trs.state.tx.us.

You may also contact a TRS Representative by calling toll-free 1-800-223-8778

For information on Social Security Benefits please visit: SocialSecurity.gov