In addition, regular faculty and staff members eligible for participation in the Teacher Retirement System or the Optional Retirement Program are eligible to participate in the State of Texas Deferred Compensation Program 4 . This retirement program is administered by the Teacher Retirement System of Texas. Appropriate payroll deductions are made monthly. 3.2 Participants are subject to all terms, conditions, and requirements of the appropriate State laws, regulations and acts, and the rules and regulations of the Texas Teacher Retirement System and the University Board of Regents. TRS members may use payroll deductions to purchase service credit for withdrawn or special service.
Participation is for one, two, three, four, or five years.
The State matching contribution to TRS is automatically tax deferred. In addition, each administrative or professional position must be at a salary rate equivalent to the rate for faculty for the institution. Incumbents in such positions serve as director or other administrative head of a major department or budget entity. These would include titles such as physicians, athletic coaches, engineers, and lawyers. 4.2 Participants are subject to all terms, conditions, and requirements of the appropriate State laws, regulations and acts, and the rules and regulations of the Texas Coordinating Board and the University Board of Regents.