Retirement

What about retirement programs?

Benefit eligible faculty can choose between 2 retirement programs:  the Teacher Retirement System of Texas (TRS) and the Optional Retirement Program (ORP).  If choosing to participate in ORP, faculty have 90 days from their hire date to enroll in the Optional Retirement Program. You will be automatically enrolled in TRS until you submit forms to enroll in the ORP. For more information review the System Benefits Website: https://www.tamus.edu/business/benefits-administration/retirement-programs/

If I enroll in ORP, can I purchase service credit?

There are no provisions in ORP to purchase service credit, transfer or rollover non-ORP funds into the plan including any service resulting from auto-enrollment in TRS during the 90 day waiting period. 

If I enroll in TRS, can I purchase service credit?

TRS only allows certain types of service credit to be purchased; these include withdrawn service, unreported and/or compensation, substitute service, time on worker’s compensation, out of state service, development leave, military service, Uniformed Services Employment & Re-Employment Rights Act (USERRA), state sick and/or personal leave,  and work experience by a career or technology teacher.  For detailed information on purchasing service credit:  https://www.trs.texas.gov/TRS%20Documents/brochure_texas_service_credit.pdf

Are there any other retirement programs that I can enroll in?

Yes, you can enroll in a Tax-Deferred Accounts Program (TDA) and a State Texas Deferred Compensation Program-Texa$aver.  More information can be found at:  https://www.tamus.edu/business/benefits-administration/retirement-programs/