The University of Texas at Tyler Employee Handbook

TEACHER RETIREMENT

All regular classified employees of the University of Texas at Tyler whose job titles are considered classified and who are employed for 4 1/2 months or more on at least a 50% time are required by law to become a member in the Teacher Retirement System at the time of employment. A monthly deduction to TRS is made from each member’s paycheck. This deduction for Teacher Retirement is tax sheltered. Should an employee leave University employment before becoming eligible for retirement, all deposits plus interest earned will be returned to the employee upon application. Sixty to ninety days is normally required for refund processing. For specific details about retirement and/or disability benefits, please read the Teacher Retirement booklet available in Human Resources. The retiring member may elect any one of several optional methods of receiving his/her retirement payment. Disability benefits, survivor benefits, and death benefits are provided in the Teacher Retirement Plan. An employee desiring to change a retirement beneficiary may do so by contacting Human Resources. On September 1, 2003, the Texas Legislature enacted a law requiring a 90 day waiting period for the TRS retirement plan to commence unless the employee already has an active TRS retirement account.