21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service
Texas Retirement Benefits Plan
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US-CC-21-166
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Normal Age Retirement Age 65 with five or more years of service credit, or. Any combination of age and service totaling 80 with at least five years of service credit.
You must have at least 10 years of eligible service credit to be eligible for retiree insurance benefits. If you began work before September 1, 2001, at least three of those years must have been with a state agency in the Texas Employees Group Benefits Program (GBP).
All employees of the Texas public education system whose employment qualifies as covered employment must participate in TRS unless an exception to TRS membership applies.
Regular State Employee hired before 09/01/2009 Service Credit5 yearsRule of 80 Service Credit + Age = 80 or above Minimum of 10 years of service creditAge60 or aboveLifetime PaymentYesYesHealth Insurance*NoYes Minimum of 10 years of service credit
You become vested when you have contributed to your State of Texas Retirement account for five or 10 years, depending on when you started working for the state.
Pension: TRS Retirement Your monthly TRS contributions, as well as contributions from the state and your employer, help fund your future TRS retirement. Upon retirement, you would receive a monthly annuity for life. There are no automatic increases to your annuity once you have retired.
Employees may apply for early-age retirement (reduced benefits) at of after 55 with at least 5 years of service, or when a member has 30 years of service yet does not meet the ?Rule of 80.? Effective September 1, 1997, the ?Rule of 80? allows a benefits eligible employee to be eligible for Employees Retirement System ( ...
Pension: TRS Retirement Your monthly TRS contributions, as well as contributions from the state and your employer, help fund your future TRS retirement. Upon retirement, you would receive a monthly annuity for life. There are no automatic increases to your annuity once you have retired.
To be eligible for normal-age service retirement, you must meet one of the following conditions: you are age 65 with at least five years of service credit, or ? you are at least age 60, you meet the Rule of 80 (your age and years of service credit total at least 80), and you have at least five years of service credit.
Unlike ERS service credit, which is based on months, TRS service credit is based on years. At least 90 working days in one fiscal year counts as one year of TRS service credit. When it transfers to ERS, it's counted as 12 months.
