Overview. 1  This IRM provides definitions for terms and acronyms used in Revenue Financial Management (RFM). 2  The Office of Revenue Reporting, Revenue Financial Management (IFM), under the Chief Financial Officer (CFO), develops and maintains this IRM.
To calculate your TRS retirement benefits, use the following formula: 1  Multiply your years of service credit by 2.3 percent. 2  Determine the average of your five highest years of salary.*. 3  Multiply your average salary (from step 2) by the number from step  1.
The TRS pension is a defined benefit plan: the eventual benefit is based on a memberâs salary and years of service, not how much the participant has contributed. In a 403(b) plan, employees set aside money for retirement on a pre-tax basis through a salary reduction agreement with their employer.