Eligible employees are employees who do not currently participate in the Teachers Retirement System of Texas or the Optional Retirement Program, Work-Study Student Assistants, and Retirees of the Teachers Retirement System of Texas or Optional Retirement Program. Unlike Social Security, with the PERC plan you would have access to the funds from your account upon retirement.
Interest accumulates on a tax-deferred basis.
Your deposits and interest earnings grow on a tax-deferred basis. The employee is taxed when the employee elects to receive funds. The employee receives a fund statement annually showing all of the activity on the account for the year. The Statement is mailed to the home address. When your individual account has been established, it will remain in effect until you withdraw your funds or elect one of the retirement options.