How your benefit is calculated
TRS calculates your benefit using the following formula: your final average salary xx your years of service x 2% = maximum annual retirement benefit
When you apply for retirement, you’ll have multiple options for payment of your monthly benefit.
Starting the retirement process
Review the Retirement Preparation Checklist
At least 90 days before your requested retirement date, submit a Pre-Retirement Information Verification (PIV) on MyTRS.
Your employer is an important part of your retirement process, so be sure to keep your payroll/personnel office informed of your retirement plans. Find out if you are eligible for any post-retirement benefits or programs from your employer and ask about when your health care and life insurance coverage will end.
Health care in retirement
Working after retirement
If you’re planning on returning to work in retirement, be aware of the working after retirement rules if you work for a TRS employer after retiring. If you work at an employer not covered under TRS, these rules don’t apply.
How TRS works with Social Security
Most TRS members contribute to Social Security, which means most will earn a Social Security benefit for the time employed at a TRS-covered job. Those members receive benefit payments from both TRS and Social Security in retirement. These are separate benefits and neither affects the other.
Additional benefits from TRS
Active and retired TRS members have survivor benefits that are automatically included with membership in TRS and available at no additional cost. Some active TRS members also have disability benefits. These benefits offer financial security for loved ones and income protection if you are unable to work.
