Retirement Options
How Does It Work?
All TRS employees contribute 6% of gross salary to TRS through monthly payroll deduction.
TRS members are vested with 10 years of creditable service and eligible to receive a monthly retirement benefit at the:
- Completion of 10 years of creditable service and attainment of age 60.
- Completion of 30 years of creditable service, regardless of age.
- Completion of 25 years of service and before age 60, but with a permanently reduced benefit.
The amount you will receive at retirement is based on 2%, multiplied by your years of creditable service, multiplied by the average of your highest consecutive 24 months of pay.
Example:
2% x 30 years = 60%
Average of highest 24 consecutive months of pay = $70,000
60% x $ 70,000 = $ 42,000 / year
You may contact TRS at (800) 352-0650 to request a benefit estimate be mailed to you.
A video of the retirement benefits available through TRS
TRS - Teacher Retirement Systems
You can access your membership statements online through your TRS account. The statement provides valuable account information such as an account balance, the lump sum value of an account, estimated benefit projections, as well as beneficiary and service credit information. Please keep in mind that the information provided on the site is just an estimate. You will have to contact TRS for a more detailed benefit estimate. Here is how to view/download a statement:
- Go to www.trsga.com
- My TRS login link on the navigation bar above.
- Active Member/Retiree Login
- Either login to your existing account or sign up for an account.
- Click the Download My Annual Member Statement link on the right.
- Click the PDF link.
Members within two years of retirement can call or go online to make an appointment to discuss their retirement with a retirement counselor. You can also view videos online that tell you how to update your beneficiaries, advise about retirement, using your online TRS account, and things you need to know about your benefits if you are new to TRS. You can find those videos and podcasts at www.trsga.com/multimedia.
It's important to remember that you MUST begin the process for retirement online. We cannot handle the process for you. Also, you will need to get information about your insurance through SHBP. We cannot answer questions about costs or eligibility at the BOE.
How Does It Work?
Participants in PSERS hired before 7/1/2012 contribute $4 monthly for a 9-month contribution period of September through May each year. Employees hired after 7/1/2012, without prior PSERS qualifying service, contribute $10 monthly for the 9-month period.
PSERS members are vested with 10 years of creditable service and eligible to receive a monthly retirement benefit at the:
- Completion of 10 years of creditable service and attainment of age 60, at a permanently reduced benefit.
- Completion of 10 years of creditable service and attainment of age 65 with full benefits.
The amount you receive in retirement is based on your years of creditable service multiplied by a set dollar amount.
For example, an employee with 30 years of creditable service would receive a monthly benefit based on the calculation of: $16.50 X 30 years of service = $495.00 per month.
You may contact PSERS at (800) 805-4609 to request a benefit estimate be mailed to you.
A video of the retirement benefits available through PSERS