How the Teacher Retirement System (TRS) Works A TRS typically provides adefined-benefit pension plan, which guarantees a monthly benefit based on plan-specific features. Most pensions that use the TRS name arequalified retirement plansunder theEmployee Retirement Income Security Act(ERISA).2 As with...
But when you calculate your retirement nest egg, be sure to assess the Social Security benefit at its practical value. For instance, you must adjust the dollar value of the benefit to account for your receipt of a teacher's retirement benefit as well. Social Security Versus TRS Benefits If ...
North Carolina requires all its state employees and teachers to pay 6 percent of each paycheck into a retirement fund over the course of their employment with the state. If you're a North Carolina employee and you leave your post, voluntarily or otherwise, you may withdraw your contributions, ...