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.
For members who first entered the Teachers' Retirement System (TRS) on or before June 30, 2006, the TRS is a Defined Benefit plan. Your eventual benefit from the plan, if you do not refund your account, is based upon a computation method defined in statute and regulation.