Benefits-eligible employees who participate in the Teacher Retirement System of Texas (TRS) Retirement Plan will see an increase in the employer, or state, contribution for FY2023. The employee contribution will remain the same at 8.0% and the employer, or state, contribution will increase from 7.75% to 8.0%. The 2019 Texas Legislative session approved increases to the contribution rates for both employees and employers over a 5-year period. The Chart of Contribution Rate Increases is available on the TRS website.
The employer contribution rate increase will not affect the net earnings on your paycheck. The TRS employer contribution increase will begin on bi-weekly employee 9/23/2022 paychecks and monthly employee 10/3/2022 paychecks. Log in to P.A.S.S. to view your paycheck.
Benefits-eligible employees who participate in the Optional Retirement Program (ORP) will not see any changes to contribution rates. The employee contribution rate will remain at 6.65%, and the employer, or state, contribution rate will remain at 6.6%.
For additional information visit Teacher Retirement System on ESO’s website and see UHD policy PS 02.A.12, Employee Fringe Benefits Policy.
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