Members can retire when they have five years of service and have reached age 55. Members who have earned 30 years of service can retire regardless of their age, so it is possible that someone who is only 49 years old may be able to retire. Retiring at the earliest opportunity may result in a reduced (early age) service retirement.
Refer to the tier information in the TRS Benefits Handbook so you know the age and years of service credit you must have to be eligible for retirement. You may also refer to your TRS annual statement for retirement eligibility dates and estimated benefits.
Unreduced service retirement is normal age retirement. This means your TRS benefit is calculated using the standard annuity formula and is not reduced because of early age. Below is an example of a benefit calculation that is not reduced for early age, where the member has a final average salary of $50,000, is 58 years old, has 22 years of service credit, and membership was established before Sept. 1, 2007.
2.3% × $50,000 × 22 = $25,300 gross annual annuity, or $2,108.33 gross monthly annuity. The monthly annuity would not be reduced since the member's age plus years of service total 80.
If, however, the member in the example above was 56 years old, the age plus years of service would total only 78 and an early-age reduction would apply. The percentage of reduction depends on your age and years of service credit at retirement, as well as, your membership entry date, grandfathered status, and tier membership status.
In 2005, several changes were made to the TRS retirement plan. However, certain repealed provisions were preserved for TRS members who were "grandfathered" for this purpose. To be grandfathered, you must have met at least one of the following requirements as a TRS member on or before Aug. 31, 2005:
- reached age 50,
- had at least 25 years of service credit,
- age and years of service totaled at least 70.
Note: If on or before Aug. 31, 2005 you were a member of both TRS and another Texas public retirement system that participates in the Proportionate Retirement Program, please contact TRS if you have questions about your grandfathered status.
The chart below shows what it means to be grandfathered:
Final Average Salary and Partial Lump Sum Options
| GRANDFATHERED | NOT GRANDFATHERED |
| Final average salary at retirement will be determined by the highest three annual salaries | Final average salary at retirement will be determined by the highest five annual salaries |
| Partial Lump Sum Option eligibility is normal age (unreduced) service retirement | Partial Lump Sum Option eligibility will require the Rule of 90, either early age (reduced) or normal age (unreduced) service retirement |
| Members age 55 or older with 20 to 24 years of service credit who take early retirement receive a reduction in their annuity, but the reduction is "subsidized" (you may receive 90%-98% of your annuity) | Members age 55 or older with 20 to 24 years of service credit who take early retirement receive reduction in their annuity, but the reduction is not "subsidized" (you may receive as little as 47% of your annuity) |
There are a few different ways you can find your tier:
- Locate your tier membership status on your annual statement.
- Log in to your MyTRS account and find your tier information on the Account Summary page.
- Use the Tier Placement Map on the TRS website.
- Watch the “What Tier Am I?" member education video.
- Read the Tier section in the TRS Benefits Handbook for an overview of all the tiers and retirement eligibility requirements.
You can name anyone as your beneficiary; it does not have to be someone related to you. You can name your estate, a trust, or an organization or charity.
We encourage you to simply log in to your MyTRS account to name or update your beneficiary designation. This is quickest and safest method. As an alternative, you may complete and submit the Designation of Beneficiary form (TRS 15) (pdf). (NOTE: You may name multiple beneficiaries; however, at retirement, there are certain payment plans that limit you to one primary beneficiary.)