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Retirement
Texas Municipal Retirement System (TMRS)
The City of San Antonio offers a mandatory retirement plan to its full-time non-uniformed
employees upon their date of hire with the City. This retirement plan
is administered by Texas Municipal Retirement System. Contact
TMRS at 1-800- 924-8677 or on the web at www.tmrs.com with
questions or for more information.
- The employee contribution to the plan is 6% of salary.
- City’s contribution is 2 times employee contribution.
- Employees become 100% vested after 5 years of service.
- Criteria for retirement: 5 years of service at age 60, or 20 years
of service at any age.
Deferred Compensation (457) Programs
The City of San Antonio provides employees an additional way to put even
more money toward retirement directly from their paycheck through a
Section 457 Deferred Compensation Plan. The plan is designed to be
a supplement to the City’s mandatory retirement plan and is an
additional way to invest long-term.
Nationwide Retirement Solutions and ICMA Retirement Corporation are
the City’s deferred compensation providers. Representatives from
these companies are on-site at the City’s Human Resources Department
weekly. Contact Human Resources Customer Service at 210-207-8705 to
schedule an appointment with a provider or for more information on how
to enroll.
More About Deferred Compensation:
- The minimum contribution for deferred compensation is $10 per pay
period.
- The maximum contribution for 2013 is $17,500.
- For employees over age 50, the maximum contribution for 2013 is $22,500.
- There are 26 payroll deductions for deferred compensation per calendar
year.
ICMA-RC
1-800-735-7202
www.icmarc.com
A local representative is on-site at the Human Resources Department at
111 Soledad every Thursday.
Nationwide Retirement Solutions
1-877-677-3678
www.nrsforu.com
A local representative is on-site at the Human Resources Department at
111 Soledad every Tuesday. |
