Mandatory Retirement Programs
UT Austin employees who work at least 20 hours per week for 18 weeks or longer during the September 1 - August 31 fiscal year are required to participate in one of the university's two mandatory retirement plans. Employees whose positions require student status as a condition of employment are not eligible or required to participate.
Teacher Retirement System of Texas (TRS)
Overview
TRS is a defined benefit plan governed by Internal Revenue Code (IRC) Section 401(a).
Enrollment
UT Austin employees who are expected to work at least 20 hours per week for 18 weeks or longer during the September 1 - August 31 fiscal year are automatically enrolled in TRS on their first day of employment. E
to which employees contribute a state mandated percentage of their pay each month Employees vest in the plan after accumulating five years of creditable service and vesting allows employees to draw an annuity payment once they meet certain retirement eligibility criteria.
UTSaver Voluntary Retirement Programs
Eligibility: Anyone receiving a salary with UT Austin is eligible to participate in the voluntary retirement program known as UTSaver. This includes graduate student employees, temporary employees, part-time employees, and return to work retirees.
Contributions: Employee contributions are required. Employer contributions are not provided.