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Human Resources/Payroll Services

Retirement Programs

TEACHER RETIREMENT SYSTEM OF TEXAS (TRS) - TRS is a defined benefit plan in which your standard monthly annuity is calculated by an established formula (2.3% times your total years of service credit times the average of your five highest annual salaries divided by 12). If you are enrolled in TRS, you will contribute 7.2% of your salary and the University contributes an amount equal to 6.8% of your salary. Your contributions are not taxed as current income. Vesting occurs after five years of participation. TRS also provides disability, survivor and death benefits.

OPTIONAL RETIREMENT PROGRAM (ORP) - ORP is a defined contribution plan, the performance of which is determined by your investment decisions. Under ORP, you contribute 6.65% of your salary and the University contributes an amount equal to 6.40% of your salary. Your contributions are not taxed as current income. You are vested after one year and one day of participation. Faculty members and certain full-time staff may elect ORP in lieu of TRS.

TAX-DEFERRED ACCOUNTS (TDA and DCP) - Whether you are in TRS or ORP, you can choose to invest additional money for retirement with a tax-deferred account. You may contribute as little as $25 per month to a TDA and $20 per month to a DCP. The maximum contribution is determined by the IRS. Your contributions are deposited with an authorized company of your choice and are not taxed as current income.

PUBLICATIONS
Retirement Program Vendors

Teacher Retirement Systems of Texas

800-223-8778

Texa$aver Deferred Compensation Plan

  • Select 457 Plan Info from the drop-down field in the upper left corner

800-634-5091