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Next Benefit Payment Date June 28

Retirement Benefit Options

When you are eligible and apply for retirement from TMRS, you have three options to determine how your lifetime monthly benefit will be paid to you:

Retiree Life Only

The Retiree Life Only option provides you with the largest monthly retirement benefit. You will receive a lifetime monthly retirement benefit, but with no survivor benefits. At your death, all TMRS payments will cease.

Retiree Life and Survivor

The Retiree Life and Survivor option provides you with a reduced lifetime monthly retirement benefit, but it provides a lifetime monthly benefit after your death to your beneficiary. When you retire, you will select 50%, 75% or 100% of your monthly benefit to be paid, when you die, to your beneficiary each month for the rest of their life.

Retiree Life and Guaranteed Term

The Retiree Life and Guaranteed Term option provides you with a reduced lifetime monthly retirement benefit payable for the rest of your life, but it provides a monthly benefit to your beneficiary if you die before the guaranteed payment term you select ends. When you retire, you will select a guaranteed payment term of 5, 10, or 15 years that begins at your TMRS retirement date. If you die before the selected term ends, your beneficiary will receive your benefit for the remainder of that term.

Partial Lump Sum Distribution

After you select one of the three options above, you can choose to receive a partial lump sum distribution (PLSD) from your retirement account. The lump sum will be an amount equal to either 12, 24, or 36 times the Retiree Life Only monthly benefit. If you choose a PLSD, it will reduce the amount of your and any beneficiary’s monthly retirement benefit. The PLSD can be paid to you or rolled over to another qualified retirement plan.

For more information or if you have any questions about these retirement benefit options, you can contact the Member Service Center. You can also compare the monthly benefits of the three options above by running retirement estimates at MyTMRS. If you do not have a MyTMRS account, you can create one here.