Teacher Retirement System of Texas (TRS)
TRS is a defined benefit retirement plan governed by Internal Revenue Code Section 401(a). All eligible employees of The University of Texas at Austin are automatically enrolled in TRS on their first day of employment.
TRS participants are benefits eligible employees that are working at least 20 hours per week for 4.5 continuous months or more. Those employees are automatically enrolled in TRS as of their first day of employment. Exception: Students employed in positions that require student status as a condition of employment are not eligible to participate in TRS.
The employee and employer contributions are directed into a large pension trust fund managed by experienced professionals. The calculation for retirement annuity is based on a formula defined by the Texas Legislature. Members vest in the TRS program after attaining five years of retirement service credit which entitles them to retirement annuity benefits upon meeting the applicable age. In addition, the TRS plan provides service retirement, disability retirement, and member death benefits.
See the TRS website for additional information.
TRS Employee & Employer Contribution Rates
|September 1, 2014 – August 31, 2015||6.7%||6.8%|
|September 1, 2015 – August 31, 2016||7.2%||6.8%|