Texas Municipal Retirement Systems

The City of Grand Prairie participates in the Texas Municipal Retirement System (TMRS).

All regular full- and part-time employees scheduled to work at least 1,000 hours per year at the time of their employment shall become members of the Texas Municipal Retirement System.

Seven percent of the employee's salary will be deducted each pay period for deposit in the system.

The City will contribute an amount equal to 14 percent of the employee's salary for deposit in the system, to be credited toward the employee's retirement fund.

Employee deposits earn interest on an annual basis, credited to the employee's account.

Texas Municipal Retirement System benefits will be determined by a formula dependent upon age at retirement, average prior service, salary, amount deposited in the employee's account by the employee and by the City, length of City service and the retirement option selected.

Deferred Compensation (Optional Retirement Plans)

You may choose to save for the future with a 457 deferred compensation retirement plan.  The City offers three different plans to choose from:

ICMA Retirement Corporation

The ICMA Retirement Corporation is a not-for-profit corporation founded by public service employees.

• Daily valuation of asset balances
• 24-hour access to account information via toll-free telephone and the Internet
• Ability to transfer assets and allocate future contributions over the phone and the Internet
• Internet site at http://www2.icmarc.org
• Competitive fees, no hidden fees.  Free fund-to-fund transfers among investment options
• Personalized service, including assistance in enrollment and retirement planning
• Quarterly account statements and performance summaries and newsletter

For more information, call 972-306-0701, 1-800-669-7400 or visit http://www2.icmarc.org.

Nationwide Retirement Solutions

With nearly 30 years experience in group retirement, Nationwide Retirement Solutions (formerly PEBSCO) provides variable and fixed tax-deferred group annuities, mutual funds and stable value options for public employees.

For more information, visit www.nrsforu.com or call 1-877-677-3678. Customer service representatives are available 8 a.m.-9 p.m. Monday-Friday (CST).

Hartford Life

Hartford Life services more than 1,400 public employer 457 Deferred Compensation Plans, with 180,000+ employees enrolled.

• Individual retirement education sessions with your local service representative
• Investment education materials

For more information, call 1-800-873-8212 x 4640 or visit www.retire.hartfordlife.com.