Considering Retirement?
The decision to retire from service is one that only you can make. This is one of the final crossroads that you will encounter that will lead to a lifetime event.
STEP ONE – BEGIN EARLY
Contact TRS six months prior to your anticipated retirement date to allow sufficient time to complete and submit all required forms. Request your TRS Retirement Packet from TRS and refer to the TRS Website for a list of things to do before retirement. Teacher Retirement System of Texas - 1000 Red River St. Austin, Texas 78701 - 1-800-223-8778 trs.texas.gov
STEP TWO – INITIATE THE RETIREMENT PROCESS WITH THE DISTRICT
Refer to the MISD Retirement information and requirements list to assist you in making a smooth transition.
STEP THREE – SCHEDULE A MEETING WITH YOUR INVESTMENT PLANNING ADVISOR
Contact your investment advisor regarding your 403(b) and/or 457(b) saving plans if applicable, to assist you in making a smooth transition.
Checklists:
TRS Group Benefit Presentations
Teacher Retirement System of Texas (TRS) hosts group benefit presentations and one-on-one field office visits generally held at Region 1 ESC Edinburg, Texas. Registration is required and seating is limited. TRS has launched a series of financial awareness videos aimed at helping members learn about retirement based on three themes:
What you have,
What You Need, and
How to Get it.
TRS Financial Awareness Video Series
On occasion, groups will notify the District of retirement and financial seminars and workshops in the area. As a courtesy, the District will post the information but does not sponsor or endorse these groups and makes no representation as to the information or services that are provided.
Worker's Compensation & Retirement If you receive workers’ compensation payments as temporary wage replacement pay, you may be eligible to purchase TRS service and/or compensation credit. If the payments are verified no later than the end of the school year following the school year in which the workers’ compensation is paid, the cost to purchase the service and/or compensation credit is the amount of the member contributions on the workers’ compensation paid. The member contributions must be paid in a lump sum no later than the end of the school year following the school year in which the workers’ compensation is paid. If workers’ compensation is not verified and a lump-sum payment is not received by the end of the school year following the school year in which the workers’ compensation is paid, the cost of the service and/or compensation will be calculated using the actuarial cost method.* Please review the TRS Service Credit Brochure