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.
You asked (1) what percentage of a teacher's working income the Teacher's Retirement System (TRS) replaces at various age and service levels, (2) what the maximum TRS pension is, and (3) how TRS compares to other state retirement systems on (a) age and years of service for normal retirement, (b) pension maximum, and (c) income replacement.