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Fired Texas Teachers
Old 03-24-2015, 09:39 PM   #1
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Fired Texas Teachers

Looking to see how well is the pensions and insurance that Tx teachers receive


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Old 03-25-2015, 05:48 AM   #2
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I don't know anything about it, but you might poke around the Texas Teachers Retirement System website to find out.

http://www.trs.state.tx.us/
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Old 03-25-2015, 09:46 AM   #3
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My husband worked for a university and is under TRS. He gets about 66% of his highest 3 annual salaries (although it is now highest 5) and his health insurance is free. As a spouse, health insurance for me is about $330 until I am 65 and then it is about $130 for a medicare advantage plan and his is still free. You have to have your age and length of service equal 80 to get the full benefits.


For my husband, he and his employer also contributed to social security, so he will get that, too. However, Texas teachers opted out of social security in the 1950's and so they only receive their pension. The TRS pension are not COLAed and rarely sees an increase. I hope this helps.
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Old 03-25-2015, 11:47 AM   #4
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My husband worked for a university and is under TRS. He gets about 66% of his highest 3 annual salaries (although it is now highest 5) and his health insurance is free. As a spouse, health insurance for me is about $330 until I am 65 and then it is about $130 for a medicare advantage plan and his is still free. You have to have your age and length of service equal 80 to get the full benefits.


For my husband, he and his employer also contributed to social security, so he will get that, too. However, Texas teachers opted out of social security in the 1950's and so they only receive their pension. The TRS pension are not COLAed and rarely sees an increase. I hope this helps.
Not all ISDs opted out... there are a few who pay into SS...


I have two sisters who get pensions from TRS... oh, and my mom... I think the formula is 2.2% X avg high 5 years salary... they changed the rules a few years back, but all my family fell into the old rules so I do not know them...


Ally, surprised your DH gets free medical.... one sister worked over 40 years and does not get it free.... she now is in medicare, but still pays for it to be secondary since it does cover overseas as primary...
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Old 03-25-2015, 10:00 PM   #5
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Texas proud. Do you know what your sisters are paying for DH and Dw insurance. That's were I am stumped
I trying to do home work around medical coverage once we retire.
Dw insurance may be better once retired she will work s few more years than I will. Currently I cover her and dd although she just graduated from college.
Thank you both for the reply cheers 😃


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Old 03-26-2015, 01:18 PM   #6
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I have two sisters who get pensions from TRS... oh, and my mom... I think the formula is 2.2% X avg high 5 years salary... they changed the rules a few years back, but all my family fell into the old rules so I do not know them...
Slight correction: formula is 2.3% x avg of high five
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Old 03-26-2015, 01:31 PM   #7
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My husband worked for higher education, so although he gets his pension from TRS, his health insurance is through ERS, which may be a little different on prices. Yes, his is definitely free now and after he signs up for medicare. I am retiring soon and will go on his plan at which time I will pay about $330 a month until medicare and then will pay about $130 for the medicare advantage plan. I'm not sure how TRS health plans compare, but surely they can't be too bad.
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Old 03-26-2015, 02:30 PM   #8
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Slight correction: formula is 2.3% x avg of high five

Interesting... I do believe that all my family was at 2.2%... wonder if that was changed with all the other changes...


I was looking at the link... and am shocked to see there are SIX tiers that teachers can fall under... do not know how much different these tiers make in reality... all looked like they used the 2.3% number and either three or five years... I bet most have to do when you can start taking the money without any reduction....
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Old 03-26-2015, 10:45 PM   #9
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Texas proud, I think you can call and talk to a retirement counselor in Austin about the benefits. Well, at least your wife can. They won't talk to the spouse without permission from the TRS participant.


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Old 03-26-2015, 11:40 PM   #10
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Am a retired educator under the TRS system. If one has under twenty years of service, the pension is drastically reduced. To qualify for a full pension, age and years of service must add up to 80. I retired with thirty years and the pension is approximately 66% of my salary for the last year I worked. There are rumblings that the insurance needs to be revamped and premiums will probably be going up. One tier of insurance coverage has been eliminated already. I would suggest carefully reading the information in the TRS booklet and call them with questions. I found the counselors to be well versed in all the intracacies and variables involved and extremely helpful with specific questions.
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Old 03-27-2015, 11:30 AM   #11
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Texas proud, I think you can call and talk to a retirement counselor in Austin about the benefits. Well, at least your wife can. They won't talk to the spouse without permission from the TRS participant.


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DW is not in the system... I have two sisters and a mom who is....

I really do not care what it is... it is not like the difference between what I think and what is now there would make much difference....
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