Retiree Account FAQs

When you retire with TCDRS, the Account Summary page in your online TCDRS account will change to reflect your new account features.

From your online account, you will be able to update your banking information, tax withholding, contact information and beneficiaries (based on benefit payment option). You can also access your income tax statements and annuity verification, and upload documents such as a Durable Power of Attorney. If you used your work email with your member account, be sure to change it so you don’t miss out on important information.

If you haven’t yet registered online, it’s quick and easy. Click the "Register" button located in the upper right corner and follow the prompts to complete registration.

Here are the most common questions about retiree accounts:

 

Q) When will I receive my direct deposit?

A) Direct deposits are typically the last business day of the month unless they fall on a holiday.

2024 Direct Deposit Calendar

You will receive a direct deposit magnet in December for the following year.

 

Q) How do I update my banking information?

A) You can update your banking information securely when you sign into your online account. If you need assistance, please call TCDRS Member Services at 800-823-7782

 

Q) How much should I withhold from my benefit payment?

A) How much you should withhold depends on your filing status and total income, not just the amount of your TCDRS benefit payment. Talk to the IRS or a tax professional to assist you. The IRS Withholding Calculator is also a helpful resource.

 

Q) How can I change how much you are withholding from my TCDRS benefit payment?

A) To see how much is being withheld from your payment for federal taxes, sign into your online TCDRS account. You can use the TCDRS withholding calculator to see how different options impact your benefit payment. You can change your withholding at any time when you sign into your online TCDRS account or by calling TCDRS Member Services.

 

Q) When will I receive my information to file my taxes?

A) Your income tax statements (IRS 1099-R) will be posted to your online account after Jan. 23. Paper copies will mail by the end of January. Please allow 10 days to arrive in your mailbox.

If you receive benefits from multiple TCDRS employers, you will receive a separate 1099-R for each account. Watch your mailbox for a 1099-R from each account. It is possible that the forms will arrive on different days.

Account Update