TRS News, Member Edition, Spring 2024 Page: 3
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SPRING 2024
TRS By the Numbers
TRS continues to grow- and we have the numbers to
prove it! We've surpassed some major milestones:
Serving more than 2 million members
Paying more than $1B total every month in annuity
payments
Issuing more than 500K annuity payments every
month
Paying $15 million per day in medical claims
through TRS health plans
In fiscal year 2023, which ended Aug. 31, TRS paid a
total of $12.14 billion in annuities to retirees and their
beneficiaries. This number is an increase of about 5%
from fiscal year 2022.
These numbers tell an amazing success story! Our
dedicated public educators and talented employees
make this possible.Direct Deposit
A friendly reminder for our annuitants: Direct deposit is
available as a way to receive annuity payments in place
of a paper check by mail. TRS encourages direct deposit
as it allows your annuity payments to get to you faster
and safer than paper check delivery. Log in to your MvTRS
account to sign up for direct deposit; this is the most
encouraged way. As an alternative, you can complete and
submit form (TRS 278), Direct Deposit Request (pdf), to
TRS. Note: It can take up to 45 days for the new banking
information to take effect. Your first annuity payment after
making the change may be a paper check.
Where the Money Comes From
The pension trust fund has set an assumed investment
return assumption of 7% in line with peers. While more
than three-fifths of fund revenue is generated by
investment activity, other contributions
are received from active TRS
ion: members, their employers and
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Monthly
Annuity
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(5% Growth)Milestones reached across fiscal years 2023 and 2024.
3
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Teacher Retirement System of Texas. TRS News, Member Edition, Spring 2024, periodical, Spring 2024; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1679455/m1/3/: accessed June 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.