Teacher Retirement System - TRS


DEFINITION of 'Teacher Retirement System - TRS'

An organization that is specifically set up for teachers to help with or manage retirement planning. Because there are individual teacher retirement systems set up for each state, there are differences in what they each offer. For the most part, the organization helps arrange retirement benefits for its member and their beneficiaries.

BREAKING DOWN 'Teacher Retirement System - TRS'

As part of the retirement program, members make regular contributions to their retirement accounts. The funds that are contributed are then invested and managed.

The teacher retirement system also offers disability and death benefits to its members and ensures the responsible distribution of the benefits.

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  1. Can an employer adopt a different type of retirement plan for each employee?

    Generally, any qualified retirement plan or IRA-based plan adopted by an employer must cover all eligible employees. Failure ... Read Full Answer >>
  2. I have several jobs. Can I contribute the maximum to multiple employer retirement ...

    It depends. A question such as this requires detailed information in order to provide a helpful response. Here is a general ... Read Full Answer >>
  3. How does my spousal Social Security benefit work?

    If you have never worked or paid Social Security taxes, you will not be eligible to receive Social Security retirement benefits ... Read Full Answer >>
  4. When can catch-up contributions start?

    Most qualified retirement plans such as 401(k), 403(b) and SIMPLE 401(k) plans, as well as individual retirement accounts ... Read Full Answer >>
  5. Are 401(k) contributions tax deductible?

    All contributions to qualified retirement plans such as 401(k)s reduce taxable income, which lowers the total taxes owed. ... Read Full Answer >>
  6. Are 401(k) rollovers taxable?

    401(k) rollovers are generally not taxable as long as the money goes into another qualifying plan, an individual retirement ... Read Full Answer >>

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