Ask TMRS about Direct Deposit! It's faster and your benefit goes DIRECTLY into your bank account.

2007
Month	Direct Deposit
December 2007	Monday - 31st
2008
Month	Direct Deposit
January 2008	Thursday - 31st
February 2008	Friday - 29th
March 2008	Monday - 31st
April 2008	Wednesday - 30th
May 2008	Friday - 30th
June 2008	Monday - 30th
July 2008	Thursday - 31st
August 2008	Friday - 29th
September 2008	Tuesday - 30th
October 2008	Friday - 31st
November 2008	Friday - 28th
December 2008	Wednesday - 31st

RETIREMENT BENEFIT
MAILING DATES FOR 2007 and 2008
If you don't have direct deposit, here are the mail dates for paper checks:

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Frequently Asked Questions

Q: Why did retirees not get an Extra Payment for 2007?

A: The decision to make an Extra Payment is made by the Board annually, based on long-term projections for the retirement fund's income and the funds needed to pay benefits for members and retirees. While we know that many retirees have come to expect the extra payment paid at the end of the year, please remember that these payments have never been guaranteed and are based on the annual income of the TMRS fund. In the current low-interest environment, TMRS fund earnings continue to support the statutory interest rate of 5%, which is already included in your monthly annuity payment. In 2007, member accounts will not receive interest above the statutory rate of 5%. In accordance with TMRS policy, when member accounts do not receive additional interest, no extra payment will be made.

Q: I am a retired Public Safety Employee and heard I get a tax break if I refund or get a lump-sum. Is this true?

A: Federal tax law was changed to permit those public safety employees who separate from service after reaching age 50 to waive the 10% penalty on lump sum distributions. Under previous law they could separate at age 55 or older and waive the penalty. What this means for TMRS members who are public safety officers is that at the time you retire or withdraw your deposits, if you choose to receive a Partial Lump Sum Distribution or a refund of your deposits and you are 50 or older, you will not have to pay the 10% IRS penalty. Public Safety Employee Certification Form

Q: I've heard about the HELPS provision for Retired Public Safety Officers. How does this benefit me?

A: The federal HELPS provision allows retired or permanently disabled public safety officers to elect an amount to be deducted from their TMRS benefit payment to pay for health care or long-term care insurance premiums. If you qualify, the amount you may exclude from taxable income on your tax return may not exceed $3,000 in one year.

If you wish to make this election, the amount is directly transferred by TMRS to an insurer. To qualify for this program, you have to have separated from service as a “public safety officer,” defined as:

• An individual involved in crime and juvenile delinquency control or reduction, or enforcement of the criminal laws (including juvenile delinquency), including but not limited to police, corrections, probation, parole, and judicial officers.

• Professional firefighters.

• Officially recognized or designated:
  • Public employee members of a rescue squad or ambulance crew
• Chaplains of fire departments and police departments

TMRS mailed letters to retirees (Week of December 10, 2007) that have been identified as public safety officers. If you believe this applies to you and did not receive a letter, please let us know. Your last employing city will need to certify your status as a public safety officer for you to get this benefit. Forms are available here and also in the Forms & Publications section of the TMRS Website. Call TMRS if you have questions.

Texas State Securities Board -- a good source of investment information

If you have a question about the legal status of any investment, you can call the State Securities Board at (512) 305-8300 or visit online at www.ssb.state.tx.us. The Website contains a wealth of valuable information for Texas investors. The Securities Board also offers public background reports on any dealer, broker, or agent, obtainable through the information section of their Website.

Benefit Option for Marriage After Retirement

Under most circumstances, when a TMRS member chooses a retirement option and begins to receive monthly payments, the option may not be changed after the first payment is made. However, in certain cases, members may choose, after retirement, to change payment options one time to provide a survivor benefit for a newly acquired spouse. Note that changing your option does not increase the total amount of money you and your survivor will receive. Depending on your circumstances, the option you choose, and the age of your beneficiary, the monthly benefit you receive may be reduced to pay the cost of the additional survivor benefit.

If you marry or remarry after January 1, 2002:
If you are receiving a Retiree Life Only benefit or a Guaranteed Term option and you remarry after January 1, 2002, you will have up to one year from the date of marriage to change your benefit option to a Survivor Lifetime option.

If you retired under a Survivor Lifetime option, your original beneficiary died, and you marry or remarry, you will also be eligible to make the change.

TMRS does not have full information on the marital status of all retirees, especially if your situation has changed since retirement. If you marry or remarry after retirement, contact TMRS to learn about your opportunities.

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NEED NURSING HOME INSURANCE?

The average cost of a stay in a nursing home may range from $30,000 to $50,000 or more a year.

"What Texans Should Know About Long Term Care Insurance" is a free publication by the Texas Department of Insurance. This booklet helps answer these questions:
   *What do Long Term Care policies cover?
   *How do I qualify for coverage?
   *Can a company cancel my policy?

To get your free copy, please call 1-800 599-SHOP (7467) or visit their web site on the Internet, http://www.tdi.state.tx.us

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