TRS 2011 Comprehensive Annual Financial Report

TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011
Communications
During fiscal year 2011, TRS expanded its efforts to improve
communications with its members, retirees, and the general
public.
The year began with a concerted effort to reach out to
members and retirees regarding TRS-related matters
throughout the state. TRS staff spoke at conferences across
Texas to provide updates on new legislation, investment
performance, pension- and health care-related issues, and
to explain new ways that members and retirees can obtain
the latest information from TRS.
Listed below are achievements of the past year, including
those pertaining to the agency’s website, toll-free telephone
service, print publications, benefit presentations and employer
training programs.
PRINT PUBLICATIONS
During fiscal year 2011, TRS published three TRS News issues
to provide members, retirees and employers with important
information relating to their benefits. In addition, the agency
introduced a comprehensive new booklet to help those
seeking information on returning to work for a TRS-covered
employer after retirement.
Titled Employment After Retirement, the booklet is divided
into three sections – for those who are retired, those who
have not yet retired, and those who have taken disability
retirement. The TRS Benefits Handbook continues to be the
primary guide for members and retirees wishing to learn about
their retirement and health care benefits. Featured on the TRS
website and mailed to members and retirees, the handbook
is also available in Spanish. Additional benefit information
is available to members and retirees through brochures,
newsletters, other print materials and the TRS website.
THE INTERNET
During the past year, TRS undertook two major website
initiatives: MyTRS, a new and improved online access section
of the TRS website, and the TRS Broker Relations Portal.
Prior to MyTRS, separate web applications had allowed
members to view account information, register for benefit
presentations, and request information from TRS. However, in
November 2010, TRS launched MyTRS by mailing temporary
user IDs and passwords to members with the 2010 TRS Annual
Statement of Account. This enabled members to create their
own unique MyTRS user IDs and passwords.
Once active members select a valid user ID and password
for MyTRS, they can:
• Obtain personalized retirement estimates using data
on file with TRS
• View and print a copy of their most recent annual
statement
• View their account balance, including current year
contributions received to date by TRS
• Request a bill for reinstatement of withdrawn service
• Obtain information on their withdrawn, unreported,
military and out-of-state special service credit
purchases that are already in progress
• Register for group benefit presentations held around
the state
TRS annuitants with a valid user ID and password can do
the following:
• View and print a copy of their most recent 1099-R
tax form
• View and calculate their withholding tax amount using
data on file with TRS
• View a summary of their current annuity payments
• View a summary of health benefit premiums paid in the
prior two years by deduction from their TRS annuities
MyTRS also features an e-mail subscription service that
offers members and retirees the ability to receive TRS
announcements and various TRS publications electronically
when they subscribe for such service. Those who register
not only receive information more quickly than by mail, but
they also help reduce TRS printing and postage expenses.
Most recently, MyTRS introduced options to register to
receive electronic notification of 1099-Rs and TRS Annual
Statements of Account rather than receiving them by mail.
Members were also given the ability to register for field office
visits around the state. By the end of the fiscal year, nearly
170,000 members and retirees had registered for MyTRS.
Participation is expected to increase significantly as new
MyTRS features continue to be introduced.
During the past year, TRS also introduced the TRS Broker
Relations Portal, a Web-based application to manage broker
relations, including numerous compliance and evaluation
documents that are exchanged between brokers and TRS’
Trade Management team. The system automates processes
used by brokers and TRS traders, reduces paper, and saves
staff time. The annual compliance process with brokers was
successfully completed using the system in the spring of 2011.
INTRODUCTORY SECTION
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