Understanding Vesting & Eligibility

Vesting with TCDRS means you have enough service time to receive a lifetime monthly benefit when you become eligible and choose to retire. When you become vested, you are eligible to retire at age 60. Your employer's plan, however, may have eligibility requirements that allow you to retire earlier.

Whether you're planning a Grand Canyon trek or looking forward to tending your backyard garden, retirement is when all of your saving and planning start to pay off.

Two factors determine your retirement eligibility:

• Your age

• Number of years and months of service time you have earned

Your employer chooses the retirement eligibility requirements for your plan. TCDRS members can sign in online to see their employers’ requirements.

 

Vesting

As a TCDRS member, you'll reach important milestones on the road to retirement. One of these milestones is called vesting, and it’s an important step on the way to retirement eligibility.

Vesting with TCDRS means you have enough service time to receive a lifetime monthly benefit when you become eligible and choose to retire.

The amount needed for vesting is determined by your employer and could be either 5, 8 or 10 years.

TCDRS will contact you when you reach this important milestone or you can sign in and see for yourself where you are on the road to retirement.

 

Becoming eligible to retire

When you become vested, you are eligible to retire at age 60. Your employer's plan, however, may have eligibility requirements that allow you to retire earlier. You are eligible to retire when you are vested and meet one of the following requirements:

• At age 60

• Service time plus age equals 75 or 80 (set by your employer)

• At any age with 20 or 30 years of service time (set by

  your employer)

Sign in to your online account to review your vesting requirements.

 

Benefits