TRS Supplemental Savings Plan Passes First Anniversary
SPRINGFIELD, IL – The Teachers’ Retirement System’s Supplemental Savings Plan continued to see steady growth as it passed its one-year anniversary in January, according to statistics reviewed by the TRS Board of Trustees.
Throughout 2022, more than 1,000 active TRS members elected to participate in the SSP, which is an optional 457(b) deferred compensation savings program that is designed to help retirees supplement their TRS pensions. The SSP was launched on January 1, 2022.
Altogether, payroll deductions for the SSP totaled $2.9 million.