Retirement for Former Employees
As public servants, State of Texas employees provide critical services to Texans. ERS works to support current and former state employees through the State of Texas defined benefit retirement plan.
The plan provides a lifetime annuity when employees or former employees who are vested in the plan reach eligibility and choose to retire. Former employees can leave their money in their State of Texas Retirement accounts or withdraw it. To learn more about options for former employees, click the State of Texas Retirement link below.
To help state agency employees achieve financial security in retirement, ERS offers the Texa$averSM 401(k) / 457 Program, with low-cost traditional and Roth options. Some higher education employees also can participate in Texa$aver, if their institutions offer it. Former employees who contributed to a Texa$aver account while working at a state agency or institution can keep their money in their account, roll it over to another qualified retirement account or withdraw it. To learn more, click the Texa$aver link below.
Along with Social Security, State of Texas Retirement and personal retirement savings make up the “three-legged stool” of retirement income.
Please see the Insurance Benefits in Retirement page for information about your insurance benefits as a retiree.
The State of Texas Retirement program is a defined benefit retirement plan for eligible employees of State of Texas agencies, with mandatory participation.
Texa$averSM 401(k) and 457 Program
To have a comfortable retirement income, you cannot rely on a pension plan and Social Security alone. Instead, you will need to plan, invest and make good use of tax-advantaged savings like the Texa$aver program.
Retiring with Teacher Retirement System of Texas (TRS) or the Optional Retirement Program (ORP)
ERS administers insurance benefits for employees, retirees and eligible family members at participating universities and colleges.