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.
TRS Retirement Rates for Fiscal 2016 and Fiscal 2017. For employees covered by Teacher Retirement System of Texas (TRS), the state contribution rate will remain at 6.8 percent for both fiscal 2016 and fiscal 2017.The employee contribution rate will change to 7.2 percent for fiscal 2016 and 7.7 percent for fiscal 2017.ptional Retirement Program (ORP) Rates for Fiscal 2016 and Fiscal 2017. For employees participating in the Optional Retirement Program (ORP), the state contribution rate will remain at 6.6 percent for both fiscal 2016 and fiscal 2017.