Texas Woman's University Staff Handbook
Each regular employee of the University is required to participate in the Teacher Retirement System. On the first date of employment, Full-time faculty, certain administrators, and professional librarians are eligible for participation in the Optional Retirement Program. Employees whose position requires student status as a condition of employment are excluded from eligibility for retirement programs.
Teacher Retirement System
Retirement Annuities: Members are eligible to retire with full benefits at either:
Early age retirement with a reduced annuity is also available beginning at age 55.
Retirement benefits are based on a member's total years of creditable service and the average of the 5 highest annual salaries.
Disability Benefits:Members who become permanently disabled are eligible to apply for disability retirement benefits.
Death Benefits:Members are covered by death benefits beginning the first day of employment. The designated beneficiary is entitled to receive a lump sum payment equal to twice the member's annual salary not to exceed $80,000.
Return of Deposits:Members who terminate employment are entitled to receive a return of employee deposits plus five percent interest less tax and penalty (if drawn before age 59 1/2).
Special Service:Members have the opportunity of increasing benefits by purchasing credit for eligible special service. Special service may include withdrawn service, military service, developmental leave, and out-of-state service. Beginning September 1, 2001, a TRS member may purchase one year of membership service credit for 50 days of accumulated state sick leave as of the last day of employment before retirement. Interested employees should visit the TRS website for additional information.
page last updated 11/26/2013 2:35 PM