Teachers Defined Contribution Program

Teachers Defined Contribution Program (TDC)-Grandfathered employees only

The Teachers Defined Contribution Retirement Plan ("TDC") is a multiple employer defined contribution retirement system. TDC members include former TRS plan members, including higher education employees, who have elected to transfer into or participate in the TDC. The TDC benefits depend solely on amounts contributed to the plan plus investment earnings.

State Legislation requires participating employees to contribute 4.5% of their gross compensation and their employer to contribute 7.5% of covered members' gross compensation from amounts allocated to the employers through the State's School Aid formula. Employer contributions for each employee (and interest allocated to the employee's account) become partially vested after six years and fully vested after 12 years of completed service. Employer contributions and earnings thereon forfeited by employees who leave employment prior to becoming fully vested are available, in the event the employee does not return to active participant status within five years, to reduce the employer's current period contribution requirement. Any such forfeitures arising from contributions, plus earnings thereon, will be used to reduce future employer contributions. For more information, please visit the Consolidated Public Retirement Board.

Participants' Eligibility to Receive Retiree Health Insurance Premiums

TRS participants must meet the following eligibility requirement to qualify for retiree health insurance premiums:

• Age 55 with 12 years of service