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.
Two Plans, With Options. TRS offers a defined benefit plan of retirement, also known as a 401(a). As its name implies, your retirement benefit is defined by calculation using your years of membership service, the average of your two highest membership salary years, and a 2% multiplier.