Pension Calculator Information
Pension calculated assuming member is 55 years old with 34 years service with current salary history. Those with less than 34 years who continue to work will, in most cases, have higher pensions than those calculated. Those members who retire with less than 34 years may have lower pensions than those calculated.
There have been legislative adjustments, as well, limiting how much of the final year increases can be factored into the pension.
If retired at 55 then 18% at age 61, 3% per year thereafter.
From the TRS website:
"Cost of Living Increases: You will receive an automatic 3 percent cost-of-living increase on the January 1st following your 61st birthday or your first full year in retirement, whichever is later. When your first increase is calculated, it includes increases for the entire time you have been in retirement."