Primary Functions
TRS serves active and retired public and higher education employees of the state through its four core competencies.
Benefit Delivery - TRS administers an array of benefits, including service and disability retirement benefits, death and survivor benefits, health benefit programs, and long-term care insurance. TRS is committed to delivering these services in an efficient and professional manner.
Investment Management - TRS manages a pension trust fund for the benefit of its members. The trust fund is presently the largest public pension fund in the state and the sixth largest overall in the nation, based on asset size. The fund is established through contributions from the State of Texas, TRS members, TRS reporting entities (employers), and investment returns. Over the last 10 years investment returns have provided nearly 47 percent of TRS' revenues.
Communication with Stakeholders - Consistent with Texas state government philosophy, TRS recognizes that it is each individual's right and responsibility to make informed retirement decisions. As subject-matter experts for a number of complex programs, TRS staff are responsible for providing accurate information about TRS programs and services to all interested parties, including active and retired members, legislative and governing bodies, school districts and institutions of higher education, and the public. TRS communicates with stakeholders to enable them to make informed decisions related to TRS programs. This may include funding and benefit design decisions made by the legislature or retirement options selected by members. TRS also provides general educational information regarding pensions and health benefit matters, and responds to media and other requests relating to the investments of the system. TRS continues to sharpen its communication focus on benefit delivery and fund management and is committed to enhancing its channels of communication to meet the needs of all constituents.
Workforce Contribution - In order to provide the level of excellence expected by its stakeholders, TRS must attract, develop, and retain an exceptionally qualified and diverse workforce.
Read more about this topic: Teacher Retirement System Of Texas, Member, Beneficiary, and Fiduciary Services
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