Employees are entitled to participate in the retirement programs offered at Prairie View A&M University. These programs may be classified as mandatory and voluntary. The mandatory programs consist of Teachers Retirement System (TRS) and Optional Retirement Program (ORP). An employee who selects one may not select the other at a later period in time. The voluntary program is comprised of pre-tax savings programs such as a Tax Deferred Account (TDA) and Texa$aver Deferred Compensation Plan (DCP). View more information on the Texas A&M University System Retirement Programs. Questions about this information, please email us at email@example.com
For employees of public institutions of higher education, two retirement programs are offered. All regular employees of the A&M System are required, as a condition of employment, to participate in the Teacher Retirement System of Texas (TRS), unless they qualify for and elect to participate in the Optional Retirement Program (ORP). Eligibility - To be TRS eligible, an employee must be budgeted for 50% or more time for a period of at least 4½ months and must not be a student holding a position for which student status is a requirement of employment. (See System Policy 31.02.).
Tax-Deferred Account and Differed Compensation Plans You may enroll in the Tax-Deferred Account (TDA) Program and/or the Texa$aver Deferred Compensation Plan (DCP) at any time during your employment with the A&M System. These plans are in addition to your mandatory TRS or ORP participation. These programs are often referred to as tax-deferred retirement savings plans because you contribute part of your monthly salary before you pay federal income tax. By contributing before tax, you reduce your current income tax. Your contributions and their investment earnings are tax-deferred until you withdraw them at retirement.
- TDAs: An investment in Your Future
- Overview of TDA and Texa$aver DCP
- Maximum Contribution Limits for TDA and Texa$aver DCP
- Guidelines for TDA Transfers and Rollovers
- Texa$aver DCP website
- TDA vendor list
- Selecting a TDA Vendor
- TDA Fee Summary
- TDA Annuity Product Summary
Information for ORP/TDA Vendors
- A Look Ahead: A Guide to Retiring from the A&M System
- SEC Calculators
- Frequently Asked Questions
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