What is the Proportionate Retirement Program?
• TMRS • The Teacher Retirement System of Texas • The Employees Retirement System of Texas • The Judicial Retirement System of Texas (Plan 1 or 2) • The Texas County and District Retirement System • The City of Austin Employees Retirement System — you may, under certain circumstances, combine that service credit to become vested and become eligible to retire in TMRS and the other systems. Your benefit payment from each system is based on your service credit with that system. If you have withdrawn your deposits from one of these retirement systems, service credit in that system may not be counted under Proportionate Retirement, but you may be eligible for Proportionate Buyback. There are some differences in the way each retirement system administers Proportionate Retirement. You should discuss your situation with each system in which you have credit before you retire, especially if you are not planning to retire from all systems at the same time.
Related Questions
- I sold my fishing licence to the government and agreed to retire under the Groundfish Licence Retirement Program. Is this treated as retirement income?
- Why isn’t UC considering a Voluntary Early Retirement Incentive Program (VERIP) as a way to avoid layoffs?
- What is the Proportionate Retirement Program?
