{"id":1612,"date":"2018-05-19T03:00:38","date_gmt":"2018-05-19T03:00:38","guid":{"rendered":"http:\/\/ffbenefits.ffga.com\/cityofbedford\/?page_id=1612"},"modified":"2023-08-18T17:24:47","modified_gmt":"2023-08-18T17:24:47","slug":"retirement-plans","status":"publish","type":"page","link":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/retirement-plans\/","title":{"rendered":"Retirement Plans"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-gh0ews-45486ee6d25fe1fe88e5d5149465ddf6\">\n.flex_column.av-gh0ews-45486ee6d25fe1fe88e5d5149465ddf6{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-gh0ews-45486ee6d25fe1fe88e5d5149465ddf6 av_one_full  avia-builder-el-0  el_before_av_two_third  avia-builder-el-first  first flex_column_div av-zero-column-padding  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-dkkjz0-0a03ff409563443711802c4be498243e\">\n.avia-image-container.av-dkkjz0-0a03ff409563443711802c4be498243e img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-dkkjz0-0a03ff409563443711802c4be498243e .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-dkkjz0-0a03ff409563443711802c4be498243e av-styling- avia_animated_image av-animated-when-visible-95 right-to-left avia-align-center  avia-builder-el-1  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3531 avia-img-lazy-loading-not-3531 avia_image ' src=\"\/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement.png\" alt='' title='Retirement'  height=\"202\" width=\"1500\"  itemprop=\"thumbnailUrl\" srcset=\"\/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement.png 1500w, \/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement-300x40.png 300w, \/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement-1030x139.png 1030w, \/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement-768x103.png 768w, \/wp-content\/uploads\/sites\/1751\/2023\/08\/Retirement-705x95.png 705w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><\/div><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-bvi4gc-a53c90690598d36be2a64adf9b2c18c6\">\n.flex_column.av-bvi4gc-a53c90690598d36be2a64adf9b2c18c6{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-bvi4gc-a53c90690598d36be2a64adf9b2c18c6 av_two_third  avia-builder-el-2  el_after_av_one_full  el_before_av_one_third  first flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='av_textblock_section av-llf9rjx6-abad8be526eff62347f0948bb5f8e872 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>Retirement (TMRS)<\/strong><\/p>\n<p>The City of Bedford is a member of the Texas Municipal Retirement System (TMRS). The purpose of the retirement system is to provide adequate and dependable retirement benefits for employees retiring from Texas cities. Participation is mandatory for all eligible employees. There is no maximum age for participation in the TMRS.<\/p>\n<p><strong>Vesting<\/strong><\/p>\n<p>Employees are vested after 5 years of service. Vesting means you have worked enough years and established enough service credit to meet the minimum length of service requirement for retirement. Once vested, and you leave the City of Bedford, you may leave your member deposits with TMRS until you reach retirement eligibility. Please remember to update your beneficiaries once you have become vested.<\/p>\n<p><strong>Retirement Eligibility<\/strong><\/p>\n<p>You can retire under the TMRS when you have at least 5 years of service and are at least age 60. You may also retire at any age if you have at least 20 years of service. Upon retirement, you will choose a monthly payment option to receive your benefit.<\/p>\n<p><strong>Plan Contributions<\/strong><\/p>\n<p>Employees contribute 7% of gross income, on a pre-tax basis, each pay period and the City matches the employee contribution according to a 2 to 1 ratio. Contributions in the system are not taxable until withdrawn.<\/p>\n<p><strong>Deferred Compensation<\/strong><\/p>\n<p>The City of Bedford\u2019s deferred compensation 457(b) option is an investment for your future, designed to provide an additional source of income to help you financially in your retirement years. Participation in a deferred compensation plan is voluntary and employees are eligible to join and make changes at any time. The City does not contribute to 457(b) plans. You have a variety of investment options to achieve a maximum return on your savings by working with the following providers:<\/p>\n<ul>\n<li>Mission Square and Nationwide<\/li>\n<\/ul>\n<\/div><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3o2u30-07621c8c9607fa127bebd6765d26e3f0\">\n.flex_column.av-3o2u30-07621c8c9607fa127bebd6765d26e3f0{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-3o2u30-07621c8c9607fa127bebd6765d26e3f0 av_one_third  avia-builder-el-4  el_after_av_two_third  avia-builder-el-last  flex_column_div av-zero-column-padding  column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2r24vg-3b7870a5464bb5420e5ba28612e451e1\">\n.iconbox.av-2r24vg-3b7870a5464bb5420e5ba28612e451e1 .iconbox_icon{\nbackground-color:#c42032;\n}\n<\/style>\n<article  class='iconbox iconbox_top av-2r24vg-3b7870a5464bb5420e5ba28612e451e1  avia-builder-el-5  avia-builder-el-no-sibling  main_color'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class=\"iconbox_content\"><header class=\"entry-content-header\" aria-label=\"Icon: TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS)\"><div class='iconbox_icon heading-color avia-iconfont avia-font-entypo-fontello' data-av_icon='' data-av_iconfont='entypo-fontello' title=\"TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS)\" desc=\"TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS)\" ><\/div><h3 class='iconbox_content_title '  itemprop=\"headline\" ><a href='http:\/\/tcgservices.com' title='TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS)'  >TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS)<\/a><\/h3><\/header><div class='iconbox_content_container '  itemprop=\"text\" ><header class=\"entry-content-header\">\n<h3 class=\"iconbox_content_title \"><\/h3>\n<\/header>\n<div class=\"iconbox_content_container \">\n<p><strong>Full-time Employee Retirement Plans\u00a0<\/strong><\/p>\n<ul>\n<li style=\"text-align: left\"><strong>TMRS<\/strong> 800-924-8677\u00a0 <a href=\"http:\/\/www.tmrs.org\/\" target=\"_blank\" rel=\"noopener\">www.tmrs.org<\/a><\/li>\n<\/ul>\n<ul style=\"text-align: left\">\n<li><strong>Mission Square<\/strong> 800-326-7272 <a href=\"https:\/\/urldefense.com\/v3\/__http:\/www.missionsq.org__;!!A8fipfCF_kbM7aav!EojoZcZWBGUddHXj8EI358Quq9B0G1BoEfAnZrcmSdkdyF7Ykkl3bPlN91TcGvL5wHVtW4fzH6SFTxa_GO_vKlRcxHozbTg$\" target=\"_blank\" rel=\"noopener\">www.missionsq.org<\/a><\/li>\n<\/ul>\n<ul style=\"text-align: left\">\n<li><strong>Nationwide<\/strong> 888-401-5272 <a href=\"https:\/\/www.nrsforu.com\/rsc-web-preauth\/index.html\" target=\"_blank\" rel=\"noopener\">www.nrsforu.com<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1612","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/pages\/1612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/comments?post=1612"}],"version-history":[{"count":0,"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/pages\/1612\/revisions"}],"wp:attachment":[{"href":"https:\/\/ffbenefits.ffga.com\/cityofbedford\/wp-json\/wp\/v2\/media?parent=1612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}