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 standard annuity is the maximum payment for TRS retirement benefits. It provides the retiree a maximum amount of benefit each month compared to optional service retirement forms of payment, and ends upon the retireeâs death. When calculating a normal age monthly standard annuity, TRS uses the following formula: