If a member leaves TRS-covered employment before meeting the criteria for retirement with either full or reduced benefits, the member may withdraw the money contributed to date, plus interest earned, but will not receive an annuity.

What is retire rehire?

The rehired retiree policy allows a retired employee who is receiving UCRP monthly retirement income to suspend retirement income payments and be reem- ployed in a career or long-term appointment after an appropriate break in service.

What is the rule of 80 for TRS?

-At least age 60, meets the Rule of 80 (combined age and years of service credit equal at least 80), and have at least five years of service credit. This change becomes less favorable to younger generations of TRS members.

What are the Texas Teacher Retirement System surcharges?

TEACHER RETIREMENT SYSTEM of TEXAS 5 Surcharges Employers will owe surcharges to TRS each month on all retirees who retired after Sept. 1, 2005 and work more than one-half time employment. The amount of the pension surcharge is equal to the amount of both member and state contributions on the compensation paid.

Is there a Cola for retired teachers in Texas?

According to the Texas Retired Teachers Association, there has not been a COLA since 2013 when one was provided for members who retired before 2004. For everyone else, no COLA was granted, meaning members who have been retired for 17 years have yet to benefit from an adjustment.

What does the Texas Education Agency do for educators?

The Texas Education Agency provides a wide array of services that help educators do their jobs. Those functions include accrediting educator certification programs, issuing teaching certificates, distributing curriculum standards and textbooks and providing standardized student tests.

Can a school district reduce a retiree’s salary?

State law does not prohibit districts from reducing a retiree’s salary to help offset the cost of the surcharge, though local policies may differ in this regard. However, districts cannot pay less than the amount to which the employee would be entitled under the state minimum salary schedule.