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TRS

TRS is a defined benefit plan, which means that your retirement benefit (annuity) is defined by a formula, not by the amount that you contribute to the pension plan.

Formula:

  • Average top five salaries = A
  • Years of service x 2.3 = % = B
  • A x B = annuity

Example: $50,000 (A) x .575 (B) = $28,750 (annuity)

Employees participating in TRS contribute a percentage of income monthly and the employer contributes a percentage as well. These amounts are determined by the State.

Current rates are:

  • Employee contribution: 7.7%
  • Employer contribution: 7.5%

Retiring under TRS:

  • If you are retiring from an UNT System institution as a TRS member, the retirement process should ideally begin about six months prior to your planned departure date. Contact HRBenefits@untsystem.edu to schedule a Retirement Meeting with a benefits coordinator.
  • If retirement is a few years in the future, contact HRBenefits@untsystem.edu to help you determine when you are eligible to retire and how to navigate the retirement process. We’ll be glad to do a planning meeting with you to plan for your future retirement.
  • Retirement eligibility: Meet “Rule of 80” (age plus years of service = 80) OR be 65 with 5 years of service to be eligible to draw an annuity.
  • *Note, Rule of 80 may include an age minimum based on the employee’s “TRS Tier”. Create a MyTRS account to see which tier you are in:

MyTRS

Employees can access their own retirement account information by creating a MyTRS account. Use MyTRS to help plan for retirement and keep track of your information. MyTRS is available to both active and retired TRS members and includes a retirement calculator tool.

If you have not registered for MyTRS

Go to https://www.trs.texas.gov/Pages/Homepage.aspx

Click on MyTRS on the top right of the page

Under “New to MyTRS?” click Register Now to create your login and password.