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TRS
states that a Texas school district employee is not permitted to advise
a district employee of their rights regarding their retirement funds or
specific deposit information. The following is general information; for
more specific/individual information please contact the Teacher
Retirement System of Texas. Their telephone number is 1-800-223-8778.
Additional information can also be located on their website:
www.trs.state.tx.us
A
full-time employee of Sharyland ISD is required to participate in the
Teacher Retirement System of Texas (TRS). An amount of 6.4% of the paid
salary is deposited to the employee's account through payroll deduction
every month an employee receives a payroll check. This amount is
considered the member's deposit. An additional deduction of .65% is
transferred to TRS for contribution to the TRS-care fund. This is a
pooled account and not part of the individual employee's retirement
account. These amounts are shown as deductions on the pay stub.
The
district also contributes .55% of paid salary for every TRS member in
the district. The money is also applied to the TRS-care fund. This
amount is shown as a benefit on the pay stub.
Any
new employee that is not a current member of TRS will become a member
as soon as the district reports the first payroll deposit. SISD will pay
an amount of 6% during the first 90 days of a member's employment. This
percentage is equal to the state contribution. The member will
contribute the standard 6.4% and .65% without any waiting period.
New
members will receive a packet from TRS. Complete the information and
return it to TRS as soon as possible. Your TRS file will not be complete
until they receive the forms in that packet. Please notify the payroll
office if you have a change of name, address or wish to make a
beneficiary change. We will forward these changes to TRS.
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