If you are looking for information on the teacher retirement system of Texas, maybe this will help you. TRS is a public pension plan for those who are teachers in the state of Texas.
There are more than 1 billion people that participate in this system. It is the largest public retirement system in Texas. It is also the 6th largest in the United States.
As far as who governs the system, there are a Board of Trustees who govern it. There are nine trustees on the board. The trustees are staggered in terms of six years. One of the trustees position can be given to TRS retirees, members in higher education institutions, and members in public school districts. The person who is given this position must run for nomination to this position. The top three that were voted for will then have their names submitted to the governor for appointment.
TRS administers many benefits to those in its program. These include death and survivor benefits, service and disability retirement benefits, long term care insurance, and health benefit programs. They also manage a pension trust fund for its members. The fund receives contributions from TRS members, the State of Texas, investment returns, and TRS reporting entities. The retirement benefits are financed by employer contributions in some instances, member and state contributions, and through investment earnings from the pension trust fund.
For health care insurance, TRS has a different trust that provides coverage for eligible dependents and retirees. They also have an option for long term care insurance for public school employees and retirees. Family members may also be eligible. This plan is available on an pay all basis.
So as you can see, TRS is for those that have or are now an employee of the education system. It is a good thing for those wanting to retire.