TEACHER RETIREMENT SYTEM OF TEXAS

Figure: 34 TAC ?29.11(b)

TEACHER RETIREMENT SYTEM OF TEXAS

Early-age Reduction Factors Based on 7.25% Interest

Effective September 1, 2019 TRS Rule 34 TAC 29.11

NOTE: The percentages on pages 2-11 apply to all members with 5-19 years of service credit except members who are 61 years of age; have 19 years of service credit; and became a member of TRS September 1, 2014 or after; became a member of TRS before September 1, 2014 but do not have at least five years of

service credit on August 31, 2014; or had at least five years of service credit on August 31, 2014 but do not maintain the service

credit until benefit commencement. Members who are 61 years of age with 19 years of service credit and meet one of these criteria are subject to a 5% early age reduction in benefits provided on page 22. Also, the percentages on pages 2-11 apply to all non-grandfathered members who are at least 55 years of age; have at least 20 years of service credit; and have not attained age 65 or do not meet Rule of 80. To be grandfathered, a person must have met one of the following requirements as a TRS member on or before August 31, 2005:

Attained age 50, Met Rule of 70 (age + service credit = at least 70), or Had at least 25 years of service credit

1a

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

25 26 27 28 29

30 31 32 33 34

35 36 37 38 39

40 41 42 43 44

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

5-15 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65

0

4.80 5.10 5.50 5.90 6.30

6.80 7.30 7.80 8.40 9.00

9.60 10.40 11.10 12.00 12.80

13.80 14.80 16.00 17.20 18.50

1

4.83 5.13 5.53 5.93 6.34

6.84 7.34 7.85 8.45 9.05

9.67 10.46 11.18 12.07 12.88

13.88 14.90 16.10 17.31 18.62

2

4.85 5.17 5.57 5.97 6.38

6.88 7.38 7.90 8.50 9.10

9.73 10.52 11.25 12.13 12.97

13.97 15.00 16.20 17.42 18.73

3

4.88 5.20 5.60 6.00 6.43

6.93 7.43 7.95 8.55 9.15

9.80 10.58 11.33 12.20 13.05

14.05 15.10 16.30 17.53 18.85

4

4.90 5.23 5.63 6.03 6.47

6.97 7.47 8.00 8.60 9.20

9.87 10.63 11.40 12.27 13.13

14.13 15.20 16.40 17.63 18.97

MONTHS

5

6

4.93

4.95

5.27

5.30

5.67

5.70

6.07

6.10

6.51

6.55

7.01

7.05

7.51

7.55

8.05

8.10

8.65

8.70

9.25

9.30

9.93 10.69 11.48 12.33 13.22

10.00 10.75 11.55 12.40 13.30

14.22 15.30 16.50 17.74 19.08

14.30 15.40 16.60 17.85 19.20

7

4.98 5.33 5.73 6.13 6.59

7.09 7.59 8.15 8.75 9.35

10.07 10.81 11.63 12.47 13.38

14.38 15.50 16.70 17.96 19.32

8

5.00 5.37 5.77 6.17 6.63

7.13 7.63 8.20 8.80 9.40

10.13 10.87 11.70 12.53 13.47

14.47 15.60 16.80 18.07 19.43

9

5.03 5.40 5.80 6.20 6.68

7.18 7.68 8.25 8.85 9.45

10.20 10.93 11.78 12.60 13.55

14.55 15.70 16.90 18.18 19.55

10

5.05 5.43 5.83 6.23 6.72

7.22 7.72 8.30 8.90 9.50

10.27 10.98 11.85 12.67 13.63

14.63 15.80 17.00 18.28 19.67

11

5.08 5.47 5.87 6.27 6.76

7.26 7.76 8.35 8.95 9.55

10.33 11.04 11.93 12.73 13.72

14.72 15.90 17.10 18.39 19.78

7.25% INTEREST

2

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

45 46 47 48 49

50 51 52 53 54

55 56 57 58 59

60 61 62 63 64

65

0

19.90 21.40 23.10 24.90 26.80

28.90 31.20 33.70 36.50 39.50

42.70 46.30 50.20 54.50 59.20

64.40 70.10 76.40 83.50 91.30

100.00

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

5-15 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65

1

20.03 21.54 23.25 25.06 26.98

29.09 31.41 33.93 36.75 39.77

43.00 46.63 50.56 54.89 59.63

64.88 70.63 76.99 84.15 92.03

2

20.15 21.68 23.40 25.22 27.15

29.28 31.62 34.17 37.00 40.03

43.30 46.95 50.92 55.28 60.07

65.35 71.15 77.58 84.80 92.75

3

20.28 21.83 23.55 25.38 27.33

29.48 31.83 34.40 37.25 40.30

43.60 47.28 51.28 55.68 60.50

65.83 71.68 78.18 85.45 93.48

4

20.40 21.97 23.70 25.53 27.50

29.67 32.03 34.63 37.50 40.57

43.90 47.60 51.63 56.07 60.93

66.30 72.20 78.77 86.10 94.20

MONTHS

5

6

20.53 22.11 23.85 25.69 27.68

20.65 22.25 24.00 25.85 27.85

29.86 32.24 34.87 37.75 40.83

30.05 32.45 35.10 38.00 41.10

44.20 47.93 51.99 56.46 61.37

44.50 48.25 52.35 56.85 61.80

66.78 72.73 79.36 86.75 94.93

67.25 73.25 79.95 87.40 95.65

7

20.78 22.39 24.15 26.01 28.03

30.24 32.66 35.33 38.25 41.37

44.80 48.58 52.71 57.24 62.23

67.73 73.78 80.54 88.05 96.38

8

20.90 22.53 24.30 26.17 28.20

30.43 32.87 35.57 38.50 41.63

45.10 48.90 53.07 57.63 62.67

68.20 74.30 81.13 88.70 97.10

9

21.03 22.68 24.45 26.33 28.38

30.63 33.08 35.80 38.75 41.90

45.40 49.23 53.43 58.03 63.10

68.68 74.83 81.73 89.35 97.83

10

21.15 22.82 24.60 26.48 28.55

30.82 33.28 36.03 39.00 42.17

45.70 49.55 53.78 58.42 63.53

69.15 75.35 82.32 90.00 98.55

11

21.28 22.96 24.75 26.64 28.73

31.01 33.49 36.27 39.25 42.43

46.00 49.88 54.14 58.81 63.97

69.63 75.88 82.91 90.65 99.28

7.25% INTEREST

3

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

25 26 27 28 29

30 31 32 33 34

35 36 37 38 39

40 41 42 43 44

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

16 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65 OR RULE OF 80 IF EARLIER

0

4.80 5.10 5.50 5.90 6.30

6.80 7.30 7.80 8.40 9.00

9.60 10.40 11.10 12.00 12.80

13.80 14.80 16.00 17.20 18.50

1

4.83 5.13 5.53 5.93 6.34

6.84 7.34 7.85 8.45 9.05

9.67 10.46 11.18 12.07 12.88

13.88 14.90 16.10 17.31 18.62

2

4.85 5.17 5.57 5.97 6.38

6.88 7.38 7.90 8.50 9.10

9.73 10.52 11.25 12.13 12.97

13.97 15.00 16.20 17.42 18.73

3

4.88 5.20 5.60 6.00 6.43

6.93 7.43 7.95 8.55 9.15

9.80 10.58 11.33 12.20 13.05

14.05 15.10 16.30 17.53 18.85

4

4.90 5.23 5.63 6.03 6.47

6.97 7.47 8.00 8.60 9.20

9.87 10.63 11.40 12.27 13.13

14.13 15.20 16.40 17.63 18.97

MONTHS

5

6

4.93

4.95

5.27

5.30

5.67

5.70

6.07

6.10

6.51

6.55

7.01

7.05

7.51

7.55

8.05

8.10

8.65

8.70

9.25

9.30

9.93 10.69 11.48 12.33 13.22

10.00 10.75 11.55 12.40 13.30

14.22 15.30 16.50 17.74 19.08

14.30 15.40 16.60 17.85 19.20

7

4.98 5.33 5.73 6.13 6.59

7.09 7.59 8.15 8.75 9.35

10.07 10.81 11.63 12.47 13.38

14.38 15.50 16.70 17.96 19.32

8

5.00 5.37 5.77 6.17 6.63

7.13 7.63 8.20 8.80 9.40

10.13 10.87 11.70 12.53 13.47

14.47 15.60 16.80 18.07 19.43

9

5.03 5.40 5.80 6.20 6.68

7.18 7.68 8.25 8.85 9.45

10.20 10.93 11.78 12.60 13.55

14.55 15.70 16.90 18.18 19.55

10

5.05 5.43 5.83 6.23 6.72

7.22 7.72 8.30 8.90 9.50

10.27 10.98 11.85 12.67 13.63

14.63 15.80 17.00 18.28 19.67

11

5.08 5.47 5.87 6.27 6.76

7.26 7.76 8.35 8.95 9.55

10.33 11.04 11.93 12.73 13.72

14.72 15.90 17.10 18.39 19.78

7.25% INTEREST

4

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

45 46 47 48 49

50 51 52 53 54

55 56 57 58 59

60 61 62 63 64

65

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

16 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65 OR RULE OF 80 IF EARLIER

0

19.90 21.40 23.10 24.90 26.80

28.90 31.20 33.70 36.50 39.50

42.70 46.30 50.20 54.50 59.20

64.40 70.10 76.40 83.50 100.00

100.00

1

20.03 21.54 23.25 25.06 26.98

29.09 31.41 33.93 36.75 39.77

43.00 46.63 50.56 54.89 59.63

64.88 70.63 76.99 84.15 100.00

2

20.15 21.68 23.40 25.22 27.15

29.28 31.62 34.17 37.00 40.03

43.30 46.95 50.92 55.28 60.07

65.35 71.15 77.58 84.80 100.00

3

20.28 21.83 23.55 25.38 27.33

29.48 31.83 34.40 37.25 40.30

43.60 47.28 51.28 55.68 60.50

65.83 71.68 78.18 85.45 100.00

4

20.40 21.97 23.70 25.53 27.50

29.67 32.03 34.63 37.50 40.57

43.90 47.60 51.63 56.07 60.93

66.30 72.20 78.77 86.10 100.00

MONTHS

5

6

20.53 22.11 23.85 25.69 27.68

20.65 22.25 24.00 25.85 27.85

29.86 32.24 34.87 37.75 40.83

30.05 32.45 35.10 38.00 41.10

44.20 47.93 51.99 56.46 61.37

44.50 48.25 52.35 56.85 61.80

66.78 72.73 79.36 86.75 100.00

67.25 73.25 79.95 87.40 100.00

7

20.78 22.39 24.15 26.01 28.03

30.24 32.66 35.33 38.25 41.37

44.80 48.58 52.71 57.24 62.23

67.73 73.78 80.54 88.05 100.00

8

20.90 22.53 24.30 26.17 28.20

30.43 32.87 35.57 38.50 41.63

45.10 48.90 53.07 57.63 62.67

68.20 74.30 81.13 88.70 100.00

9

21.03 22.68 24.45 26.33 28.38

30.63 33.08 35.80 38.75 41.90

45.40 49.23 53.43 58.03 63.10

68.68 74.83 81.73 89.35 100.00

10

21.15 22.82 24.60 26.48 28.55

30.82 33.28 36.03 39.00 42.17

45.70 49.55 53.78 58.42 63.53

69.15 75.35 82.32 90.00 100.00

11

21.28 22.96 24.75 26.64 28.73

31.01 33.49 36.27 39.25 42.43

46.00 49.88 54.14 58.81 63.97

69.63 75.88 82.91 90.65 100.00

7.25% INTEREST

5

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

25 26 27 28 29

30 31 32 33 34

35 36 37 38 39

40 41 42 43 44

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

17 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65 OR RULE OF 80 IF EARLIER

0

4.80 5.10 5.50 5.90 6.30

6.80 7.30 7.80 8.40 9.00

9.60 10.40 11.10 12.00 12.80

13.80 14.80 16.00 17.20 18.50

1

4.83 5.13 5.53 5.93 6.34

6.84 7.34 7.85 8.45 9.05

9.67 10.46 11.18 12.07 12.88

13.88 14.90 16.10 17.31 18.62

2

4.85 5.17 5.57 5.97 6.38

6.88 7.38 7.90 8.50 9.10

9.73 10.52 11.25 12.13 12.97

13.97 15.00 16.20 17.42 18.73

3

4.88 5.20 5.60 6.00 6.43

6.93 7.43 7.95 8.55 9.15

9.80 10.58 11.33 12.20 13.05

14.05 15.10 16.30 17.53 18.85

4

4.90 5.23 5.63 6.03 6.47

6.97 7.47 8.00 8.60 9.20

9.87 10.63 11.40 12.27 13.13

14.13 15.20 16.40 17.63 18.97

MONTHS

5

6

4.93

4.95

5.27

5.30

5.67

5.70

6.07

6.10

6.51

6.55

7.01

7.05

7.51

7.55

8.05

8.10

8.65

8.70

9.25

9.30

9.93 10.69 11.48 12.33 13.22

10.00 10.75 11.55 12.40 13.30

14.22 15.30 16.50 17.74 19.08

14.30 15.40 16.60 17.85 19.20

7

4.98 5.33 5.73 6.13 6.59

7.09 7.59 8.15 8.75 9.35

10.07 10.81 11.63 12.47 13.38

14.38 15.50 16.70 17.96 19.32

8

5.00 5.37 5.77 6.17 6.63

7.13 7.63 8.20 8.80 9.40

10.13 10.87 11.70 12.53 13.47

14.47 15.60 16.80 18.07 19.43

9

5.03 5.40 5.80 6.20 6.68

7.18 7.68 8.25 8.85 9.45

10.20 10.93 11.78 12.60 13.55

14.55 15.70 16.90 18.18 19.55

10

5.05 5.43 5.83 6.23 6.72

7.22 7.72 8.30 8.90 9.50

10.27 10.98 11.85 12.67 13.63

14.63 15.80 17.00 18.28 19.67

11

5.08 5.47 5.87 6.27 6.76

7.26 7.76 8.35 8.95 9.55

10.33 11.04 11.93 12.73 13.72

14.72 15.90 17.10 18.39 19.78

7.25% INTEREST

6

AGE OF MEMBER IN YEARS AND

COMPLETED MONTHS YEAR

45 46 47 48 49

50 51 52 53 54

55 56 57 58 59

60 61 62 63 64

65

TEACHER RETIREMENT SYSTEM OF TEXAS Percentages to be Applied to Amount of Standard Service Retirement Benefit to Obtain Amount of Service Retirement Allowance Payable at Early Retirement

17 YEARS OF SERVICE

REDUCTION BASED ON RETIREMENT AGE 65 OR RULE OF 80 IF EARLIER

0

19.90 21.40 23.10 24.90 26.80

28.90 31.20 33.70 36.50 39.50

42.70 46.30 50.20 54.50 59.20

64.40 70.10 76.40 100.00 100.00

100.00

1

20.03 21.54 23.25 25.06 26.98

29.09 31.41 33.93 36.75 39.77

43.00 46.63 50.56 54.89 59.63

64.88 70.63 76.99 100.00 100.00

2

20.15 21.68 23.40 25.22 27.15

29.28 31.62 34.17 37.00 40.03

43.30 46.95 50.92 55.28 60.07

65.35 71.15 77.58 100.00 100.00

3

20.28 21.83 23.55 25.38 27.33

29.48 31.83 34.40 37.25 40.30

43.60 47.28 51.28 55.68 60.50

65.83 71.68 78.18 100.00 100.00

4

20.40 21.97 23.70 25.53 27.50

29.67 32.03 34.63 37.50 40.57

43.90 47.60 51.63 56.07 60.93

66.30 72.20 78.77 100.00 100.00

MONTHS

5

6

20.53 22.11 23.85 25.69 27.68

20.65 22.25 24.00 25.85 27.85

29.86 32.24 34.87 37.75 40.83

30.05 32.45 35.10 38.00 41.10

44.20 47.93 51.99 56.46 61.37

44.50 48.25 52.35 56.85 61.80

66.78 72.73 79.36 100.00 100.00

67.25 73.25 79.95 100.00 100.00

7

20.78 22.39 24.15 26.01 28.03

30.24 32.66 35.33 38.25 41.37

44.80 48.58 52.71 57.24 62.23

67.73 73.78 80.54 100.00 100.00

8

20.90 22.53 24.30 26.17 28.20

30.43 32.87 35.57 38.50 41.63

45.10 48.90 53.07 57.63 62.67

68.20 74.30 81.13 100.00 100.00

9

21.03 22.68 24.45 26.33 28.38

30.63 33.08 35.80 38.75 41.90

45.40 49.23 53.43 58.03 63.10

68.68 74.83 81.73 100.00 100.00

10

21.15 22.82 24.60 26.48 28.55

30.82 33.28 36.03 39.00 42.17

45.70 49.55 53.78 58.42 63.53

69.15 75.35 82.32 100.00 100.00

11

21.28 22.96 24.75 26.64 28.73

31.01 33.49 36.27 39.25 42.43

46.00 49.88 54.14 58.81 63.97

69.63 75.88 82.91 100.00 100.00

7.25% INTEREST

7

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