Teachers' Retirement System
Here are some of the plan’s key features:
- The defined benefit component provides a lifetime monthly benefit once you meet the plan’s minimum requirements.
- Your personal retirement account increases or decreases based on the performance of your investments.
- You have several options for the amount of money you contribute. Once you select a contribution rate you may change it only if you change employers or during the rate change window in January as allowed by the IRS.
- You can choose between two investment programs: the Washington State Investment Board (WSIB) Investment Program or the Self-Directed Investment Program.
- Your contributions can only be withdrawn if you leave TRS-covered employment. You cannot withdraw contributions made by your employer.
- Taking payment of your contributions does not affect your defined benefit component. The defined benefit component of Plan 3 is financed by your employer’s contributions.
- You may remain a member of the plan if you transfer to another TRS-covered employer.
- If you are a dual member, you may be able to combine service credit with that earned in other Washington state retirement systems in order to qualify for retirement.
- The plan provides disability retirement benefits and survivor benefits if you meet the requirements.
