TWU Prospective Retiree

RETIREMENT CHECK LIST 

Retiree Insurance Eligibility

To be eligible for retiree insurance you must meet the following criteria:

  • Have at least 10 year of eligible service at TWU or with an agency that participates with the Texas Employees Group Benefits Program (GBP).
  • In addition to the 10 years of service you must be age 65 or meet the rule of 80. The rule of 80 means that your age and service equals 80.

*Example of the rule of 80:Age 60 plus 20 years of service = 80.

For additional information regarding retiree insurance and eligibility rules you can click on the link below or contact the TWU Benefits Office for a consultation:

https://www.ers.texas.gov/Active-Employees/Higher-Ed-Employees    

TRS Retirement

To obtain an estimate for your TRS annuity contact TRS at 1-800-223-8778 or log into TRS at trs.texas.gov/Pages/Homepage.aspx.

Retiree Insurance Premiums

If you had fewer than 5 years of service before September 1, 2014 your insurance premium and state’s contribution will be tiered based on the number of years you participated in the state’s GBP. You must first meet eligibility rules listed above to be enrolled in the state retiree insurance program. ERS will review each retiree insurance application to determine your monthly state contribution.

  • 100% state contribution for employee coverage with at least 20 years
  • 75% state contribution for employee coverage with 15 years to 19 years, 11 months
  • 50% state contribution for employee coverage with 10 years to 14 years, 11 months

The link below provides additional details regarding tiered retiree insurance contributions:

https://www.ers.texas.gov/Active-Employees/Retirement/Tiered-Retiree-Insurance 

ERS Presentation: Ready Set Retire 

Return To Work After Retirement 

If you are considering returning to work or are a hiring departing in the process of recruiting a TRS retiree certain rules must be considered. The hiring department is required to pay a surcharge enforced by TRS when an offer is made to a TRS retiree who retired on or after September 1, 2005. For details contact the benefits office or log onto TRS at trs.texas.gov/Pages/Homepage.aspx and search return to work.

Before making an offer the Return to Work TRS Retiree Surcharge must be completed and approved by the applicable VP and the VP of Finance and Administration.

TWU’s Service Awards and Retirement Recognition Program

To be considered a TWU Retiree and be honored at TWU’s Service Awards and Retirement Recognition Program, employees must have a minimum of 10 years of unwithdrawn State or Texas ISD service and be at least 65 years of age, OR have a minimum of 10 years of unwithdrawn State or Texas ISD service and meet Rule of 80 (age + years of service).  Please note, employees may be eligible to retire without meeting these conditions but will not be considered a TWU Retiree.  Retirees are honored only once.  Each retiree is honored at time of retirement regardless of any future return to work agreements.  Faculty members who choose to participate in the Retired Teaching Option (RTO) will be honored as a retiree BEFORE beginning RTO employment.

To obtain an estimate for your TRS annuity contact TRS at 1-800-223-8778 or log into TRS at www.trs.state.tx.us

Details

Article ID: 31171
Created
Thu 6/1/17 5:22 PM
Modified
Thu 6/30/22 9:23 AM