Monday, October 15, 2018
Deferred Compensation (457) Plans Up to 25% of gross earnings not to exceed $15,500 per calendar year. Pre-Tax Payroll Deduction. The City offers their employees two (2) nationally-known deferred compensation plans Hartford Life and ICMA RC. To learn more about Hartford Life and/or to utilize online click here. To learn more about ICMA RC and/or to utilize online services visit: http://www.icmarc.org/
Texas Municipal Retirement System (Non-Civil Service and Civil Service Police Positions) Employees contribute 7% of their gross salary to the retirement system. The City contribution is a minimum of 2 to 1 match with five (5) year vesting. Employees can retire with 5+ years of service and age 60 or 20 years of service at any age. To learn more about TMRS Retirement System click here: http://www.tmrs.org/