Magnolia Independent School District

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Payroll & Benefits » Teacher Retirement System of Texas

Teacher Retirement System of Texas

All employees eligible for TRS membership will contribute 6.7% of their gross salary to their individual retirement account with TRS.  This amount will be deducted on a pre-tax basis. 
 
All employees eligible for TRS membership will also contribute .65% of their gross salary on an after tax basis to help fund the state health insurance program for retirees.  The district also contributes .55% to TRS on all TRS salaries paid to help fund the state health insurance program for retiree.