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A traditional defined benefit (DB) plan is a plan in which the benefit on retirement is determined by a set formula, rather than depending on investment returns. Government pensions such as Social Security in the United States are a type of defined benefit pension plan.
Retirement Plans Offered. 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.