Texas Municipal Retirement System (TMRS)
You will continue to contribute 7% of your pre-tax earnings to TMRS. After 5 years of employment, you are considered to be vested. Once you are vested, the City will match your contributions on a 2 to 1 basis. You are eligible to receive the match upon retirement, either at any age with 20 years of service or 60 years of age with 5 years of service.
Please visit TMRS for more information.
457 Deferred Compensation Plans
The City of Georgetown offers you a 457 Deferred Compensation Plans through ICMA-RC.
Want to contribute more to your nest egg but unsure how? A 457 Plan offers eligible employees a convenient, tax-deferred method to save for retirement. You can contribute additional monies to a tax deferred retirement plan, up to IRS annual maximum allowable. You can choose between a percentage of your income or a flat amount. In addition, you select the funds in which you want to invest in. You can also join this plan at any time during the course of your employment. Contact Human Resources for details.
Additional retirement plans are available through ICMA-RC and include a ROTH plan.