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Chosen. (A few cities require 28 years of service credit at any age.) FORMS INCLUDED IN THIS PACKET: Application for Service Retirement Selection of Retirement Plan Selection of Partial Lump Sum Distribution Special Tax Notice Notice Regarding Plan Payments Acceptable Proofs of Birth Name Certification Electronic Direct Deposit Authorization TMRS P.O. Box 149153 Austin, Texas 78714-9153 (800) 924-8677 (512) 476-7577 FAX (512) 476-5576 THE APPLICATION PROCESS Your retirement date m.

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Service Retirement In most TMRS cities, you can retire when you have at least five years of service credit (10 years in a few cities) and are at least age 60. You may also retire at any age if you have 20 or 25 years of service credit, depending on the plan chosen by your city.

In most TMRS cities, you are vested when you have 5 years of service credit. Some cities require 10 years of service credit to vest. “Vesting” means you have worked enough years and established enough service credit to meet the minimum length-of-service requirement for retirement.

You will receive a lifetime monthly retirement benefit, but with no survivor benefits. At your death, all TMRS payments will cease. The Retiree Life and Survivor option provides you with a reduced lifetime monthly retirement benefit, but it provides a lifetime monthly benefit after your death to your beneficiary.

Membership in TMRS The only way to end your TMRS membership is to terminate employment with all TMRS cities and withdraw (refund) your member deposits and interest. If you take a refund, you will not receive the city's matching funds.

The Partial Lump Sum Distribution is subject to income tax and possibly an additional 10% tax penalty at the time of payment (some exceptions may apply). You can roll over the partial lump sum payment into an IRA or other qualified plan to continue to defer any income tax payments.

By law, you cannot borrow from your Member account; nor can you use it as collateral for a loan. In most TMRS cities, you can retire when you have at least 5 years of service credit (10 years in a few cities) and are at least age 60.

Will Social Security Affect My Benefit? No. Social Security payments do not reduce your TMRS monthly benefit.

A: TMRS is a tax-deferred retirement plan. This means you have not paid income taxes on your deposits. The IRS requires TMRS to withhold taxes on refunds, unless you roll the funds over to another tax-deferred plan or IRA (Individual Retirement Account).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232