InquiryClaim Form Trs Trs Virginia

Instructions and help about InquiryClaim Form Trs Trs Virginia

Meet Mary. Mary is a science teacher at a middle school. She’s been a TRS member for 7 years. Mary has been worried lately that she’s not saving enough for retirement, so when she discovers a new app that can call the future, she decides to check in on her future self. Well, hello, Mary! I didn’t expect to hear from you! Hi, Future Mary! Have you retired yet? Funny you should ask. I’m actually planning to retire at the end of this school year. Do you mind me asking how much your TRS pension will be? Not at all. I’ll retire with 32 years of TRS service credit and a final average salary of $60,000. That will give me a standard annuity of over $44,000 a year – almost 74% of my final salary. Will that be enough? Maybe. But maybe not. Experts say you will need 70-90% of your pre-retirement income to maintain your standard of living. You could need more or less than that depending on a number of factors, like taxes or medical bills. What else should I know? Two important things: