Incentive Compensation Plan
The Teacher Retirement System (TRS) calculated and paid incentive compensation for its plan year ending September 30, 2019, in accordance with its policies and procedures.
TRS awarded a total of $13,057,059 in incentive compensation to 155 employees (excluding $48,765 awarded to the executive director as part of the separate executive performance incentive pay plan).
TRS awarded the most incentive compensation to a senior managing director, who was awarded $423,077 payable over a two-year period. That $423,077 represented 3.2 percent of $13,057,059 in total
incentive compensation that TRS awarded.
Executive Performance Incentive Pay Plan
TRS calculated and paid executive incentive compensation for its plan year ending September 30, 2019, in accordance with its policies and procedures.
However, due to a data entry error, it overpaid the calculated amount of executive compensation by $737 (0.98 percent). After auditors brought this to the attention of TRS,
TRS corrected the error by adjusting a subsequent payment.
The executive director’s award for plan year 2019 was composed of an investment oversight award of $48,765; no leadership award was earned.
The TRS executive director was the only executive plan participant for the plan year.
Jump to Chapter 3