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  • Application For Restricted Prior Service Credit - Texas Municipal ...

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TMRS Identification Number (not required) ... (Please read the instructions provided with this form for types of eligible credit.) ... TMRS - 035R Revised 7- 2009.

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By law, TMRS member accounts are credited with 5% interest each year (and retiree accounts are similarly credited when the retirement annuity is calculated). The primary source for this 5% credit is investment income. City accounts receive interest based on the System's annual investment return.

Prior service credit means such credit toward a retirement benefit as the retirement.

You are only allowed to purchase up to five years of nonqualified service credit. You must also have at least one year of TRS service credit following the out-of-state service to be eligible to purchase this service credit.

You must complete the application and submit it to TMRS. You must redeposit the amount previously withdrawn plus a 5% per year withdrawal fee (the fee does not go toward the amount value.) Buyback must be made with a single payment and it may be purchased by a rollover from a qualified plan (see Note 2).

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.

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.

Your member deposits are held in your member account, where they earn interest each year. Your city matches your member deposits and interest at a rate chosen by the city: 1 to 1; 1.5 to 1; or 2 to 1. City matching funds are held in the city's TMRS retirement account until you retire.

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.

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© Copyright 1997-2025
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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
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
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