Vesting is an important concept to understand because, once vested, you’re entitled to a future benefit. It also helps you decide when it’s the best time to begin receiving that benefit.
When am I Vested with TRS?
If you earn at least five years of membership service credit, you are considered a “vested” TRS member. This means when you meet the necessary age requirements, you can apply for service retirement and receive a lifetime monthly benefit!
The more years of service credit you earn through TRS-covered employment, and the more you increase your average highest salaries, the more your monthly benefit will be.
Keep in mind, if you are vested and stop working for a TRS-covered employer, your TRS retirement account will continue to earn interest at a rate of 2% per year.
Withdrawing Your Member Contributions
If you opt to refund your TRS account instead, you will no longer be eligible to receive a monthly retirement benefit. Keep in mind, if you withdraw your TRS contributions, plus interest, you are also no longer eligible for health insurance benefits, and death or survivor benefits for your beneficiary.