Teachers’ Retirement System Plan 1 (TRS 1) is a defined benefit retirement plan that provides a secure formula-driven income for retirement. The Department of Retirement Systems (DRS) provides plan information in the Teachers Retirement System Plan 1 Member Handbook. Here are the plan highlights:
Your monthly retirement income is calculated by this formula:
2% x service credit years x average final compensation ÷ 12 months
Your average final compensation is the monthly average of your 2 consecutive highest-paid fiscal years.
For example, suppose you retire at age 55 with 29 years of service credit and an average final compensation of $46,000. If you do not withdraw any of your contributions and interest, which provides the annuity portion of your benefits, your monthly retirement benefit will be $2,223.33, calculated as follows:
2% x 29 years x $46,000 ÷ 12 months = $2,223.33
This calculation results in the standard single life benefit. It will be lower if you choose to continue benefits to a survivor upon your death.
Temporary disability, disability retirement and survivor benefits are available if you meet the requirements.
Email the UW Benefits Office for more information.
All UW employees participate in their applicable retirement plan from the beginning of employment. Retirement plan participation is a condition of employment.
You can withdraw or transfer your employee contributions plus interest only if you completely separate from TRS employment. You are not eligible for a withdrawal if you enter into eligible employment with an employer covered by the same system.
If you withdraw your contributions prior to retirement, you lose your right to future benefits. You can restore your contributions and reestablish your benefits under certain circumstances. Processing a withdrawal may require 60 to 90 days.
Your choices are:
If you withdraw your contributions before retirement, you lose your right to future retirement benefits. You can restore your contributions and re-establish your benefits under certain circumstances. Explore the TRS website for more information including member publications.
Disclaimer: If there are any discrepancies between this document and the provisions of the UWRP Plan Document or TRS statutes, the Plan Document or statue will prevail.