RETIREMENT PLANS
Retirement plan eligible employees are employees working in positions that are at least 50% FTE (half-time) and expected to last 4.5 months or longer. All employees who fall in this category are required to participate the Teacher Retirement System (TRS), unless an exception to TRS membership applies, for exceptions refer to the TRS Handbook.

An Optional Retirement Program (ORP) is available for full-time faculty and certain administrative employees in lieu of the Teacher Retirement System (TRS). Eligible employees have 90 days from the date of employment to make a one-time choice to relinquish membership in TRS become a participant in the ORP. The decision to participate in TRS or ORP is extremely important because this is a one time irrevocable election. The ORP is a personal retirement plan purchased by the member to which the State makes contributions. Benefits are based on the accumulated contributions and interest in the member's account. Vesting occurs after one year and one day of participation. You can choose from any authorized provider for TWU 403(b).

COMPARE THE ORP AND TRS

TAX DEFERRED ACCOUNTS
Whether you participate in retirement or not, you are eligible to contribute pre-tax contributions into a Tax Deferred Account (TDA) or a Deferred Compensation Program (457). Both types of plans are supplemental retirement savings plans that you can contribute to in order to supplement your regular retirement through TRS/ORP. Neither plan receives a state contribution, so the benefit is the tax sheltering of your contributions until retirement age (or withdrawal of your account after termination of employment, if prior to retirement). You must choose an authorized vendor to participate in the 403b plan.

For enrollment in the 457 program, contact CitiStreet to review their investment options and other important information. For more information concerning the 457 Program, call CitiStreet at 800-634-5091 or visit Texasaver.