Educate Yourself

Retirement Plans Offered

Two Plans, With Options

TRS offers a defined benefit plan of retirement, also known as a 401(a).  As its name implies, your retirement benefit is “defined” by calculation using your years of membership service, the average of your two highest membership salary years, and a 2% multiplier. Under this plan, you assume no investment risk, plus you have survivor and disability protection while you are an active member. Also, you are guaranteed retirement income for the rest of your life

Under TRS's defined benefit plan, you are offered two plans of retirement, Plan A and Plan B, which are fully explained in the links to the right.  Basically,  Plan A provides a retirement benefit only to you.  Plan B offers benefits to your beneficiary(ies) at your death.

Effective July 1, 2004, Under Plan A and Plan B, you may also elect to receive a partial lump-sum distribution (cash payment) in exchange for a reduced lifetime benefit. For details on the Partial Lump-Sum Option Plan (PLOP), see the PLOP link to the right.

When you apply for retirement you must designate a plan of retirement on the application form. Your choice will determine if you receive the maximum benefit available to you (Plan A) or if monthly survivor's benefits will be provided for your beneficiary(ies) after your death (Plan B).  You will also elect or decline a PLOP at your time of retirement.

Your decision is very important. Once you start drawing a monthly retirement benefit you cannot change your plan of retirement except under limited conditions as covered in Changing Your Plan of Retirement.