Retirement

Retirement isn’t just about leaving work behind—it’s about moving forward into a future that’s fulfilling and secure. However, financial security in retirement doesn't just happen, it takes planning and commitment.

All benefits-eligible employees, as required by state law, must participate in one of two retirement programs offered by UHD: the Teacher Retirement System of Texas (TRS) or the Optional Retirement Program (ORP). As a state employee, you also have the unique opportunity to enroll in a 403(b) and a Texa$averSM (457 PLAN).

Need more information about retirement planning? We've created a Canvas course to help you with everything from understanding your benefits to planning for financial security and lifestyle changes. Regardless of where you are at in your career, the Employee Benefits Overview can help you navigate the path ahead.

View the Employee Benefits Overview

 

Teacher Retirement System of Texas

The Teacher Retirement System of Texas (TRS) provides retirement (pension) benefits to all benefits-eligible UHD employees.

With TRS, employees:

• Are vested upon completion of 5 years of creditable service.
• Contribute 8.25% of their gross salary monthly. The state contributes 8.25% of the employee's gross salary to a state account.
• Earn interest at a rate of 2% annually on their account balance.
• Are eligible for "regular retirement" at age 65 with a minimum of 5 years of participation.
• Have optional "early retirement" with reduced benefits at age 55 with a minimum of 5 years participation.
• Receive under the standard annuity option, benefits calculated as 2.3% times the total years of membership in TRS times the average salary for the highest five years.
• Life insurance equal to twice an employee's salary to a maximum of $80,000 and and disability income benefits.

Further information can be found on the TRS website.

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Optional Retirement Program

The Optional Retirement Program (ORP) is available to full-time, benefits-eligible faculty and select professional/administrative staff. You have 90 days from your first day of employment in an ORP-eligible position to make a one-time irrevocable election of ORP in lieu of TRS. The Overview of TRS and ORP provides general information to help you choose the retirement plan that best suits your situation. Employees are enrolled in the Teacher Retirement System of Texas (TRS) program until an election for ORP participation is made in writing. If a written ORP election is not made within 90 days of the first day of eligibility, the employee will remain in TRS the remainder of their employment in Texas higher education.

When participating in ORP, employees:

• Choose from a list of approved companies and their representatives (see the table below).
• Are responsible for selecting a company to invest their retirement contributions.
• Contribute 6.65% of their gross salary monthly. The state contributes 6.6% of the employee's gross salary.
• Are vested after one year and one day of participation.
• Earn interest on contributions based on the stock market performance of their selected investment portfolio.
• Are required to have the minimum age and service requirement established under the TRS law to be considered a retiree.

For more information on ORP benefits, contact HR's Benefits Team. For information on managing your ORP, review the Retirement@Work Overview or log in to Retirement@Work.

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Voluntary Retirement Plans

403(b)/Roth 403(b)

This tax deferred annuity (TDA) program is available to interested employees. Investments can be made through UHS approved companies and their representatives.

With a traditional 403(b), contributions are excluded from taxable income until distribution. A Roth 403(b) offers you the option to defer income on an after-tax basis with earnings growing tax free.

With Roth:

• Contributions are employee only
• Minimum monthly contribution is $25 and annual maximum is $24,500.
• If you are 50 years of age or older, you can contribute an additional $8,000.
• You may enroll in a TDA at any time, but may only change carriers twice per year.

Texa$averSM (457 PLAN)

This is a university-sponsored, deferred compensation fund. Learn more about the TexaSaver program for information on rules, fees, and more.

With TexaSaver:

• Contributions are employee only
• Minimum monthly contribution is $20 and annual maximum is $24,500.
• If you are 50 years of age or older, you can contribute an additional $8,000.
• You can change your distribution arrangement as many times as necessary.

For personalized help setting up and managing a TexaSaver account, you can also schedule an appointment with UHD's TexaSaver Retirement Plan Advisor online or by reaching out directly:

Darryl Goolsby | Retirement Plan Advisor
Office: 713-426-3334
Email: Darryl.Goolsby@empower.com

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Financial Partners

If you have an ORP or have invested in a voluntary retirement plan, you can schedule a one-on-one session with a financial advisor from one of UHD’s trusted financial partners! To learn more about managing your 403b, TexaSaver, and/or ORP retirement accounts, review the Retirement at Work Guide or log into Retirement@Work. 

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Ready to Retire

Retirement marks the beginning of a new chapter—one filled with opportunities, freedom, and the chance to shape life on your own terms. Whether you’re just starting to think about retirement or are already preparing for your transition, this guide will walk you through the process with clarity and confidence.

From understanding your benefits to planning for financial security and lifestyle changes, this course is designed to help you navigate the path ahead. Retirement isn’t just about leaving work behind—it’s about moving forward into a future that’s fulfilling and secure.

No matter where you are in the journey, this guide will provide the information and resources you need to make informed decisions and step into retirement with peace of mind.

Take the first step toward retirement