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.
â¢ If you have at least five years of TRS service credit you may leave your accumulated contribu-tions with TRS and earn interest as long as these funds remain with TRS. The interest rate is currently 5 percent but will be reduced to 2 percent effec-tive Sept. 1, 2014.his means that TRS not only must receive your application for refund (and waiver of beneËts and roll-over election form, if applicable), but it must also receive your member contribution and monthly report from your TRS-covered employer.