Educate Yourself

Member Statement

RETIREMENT BENEFIT PROJECTION

If you are a vested member, your member statement will contain a projection (an estimation) of your monthly retirement benefit at the time you are first eligible for a penalty free retirement. For estimation purposes, your final average salary is calculated using your current salary, plus an assumed 3.75% salary increase for each year required provide you a penalty free retirement benefit.

In addition, to demonstrate the value of your retirement plan,  you will also see an approximation of the amount of money you would have needed to save prior to retirement,  to equal the total benefit you will receive as a TRS retiree.

This is referred to as a “present value” calculation, as it is actually the present value of your monthly pension at the time you are eligible for retirement.  The calculation is based on the amount of your monthly benefit, your age, the average life expectancy of a person the same age as you, and an assumed rate of return of 7.50%.  The 7.50% rate of return is the same as the assumed long-term rate of return on TRS’s investments.