Retirement

The City of Irving participates in the Texas Municipal Retirement System.

Employees contribute 7 percent of salary.
City of Irving matches 2 to 1.
Vested after five years of service.
Eligibility at 20 years of service at any age or at 60 years of age with at least five years of service.
Supplemental Benefit Plan: 2.5 percent employee contribution for supplemental retirement annuity. The fund also provides for long-term disability protection and survivor benefits.

Benefits	Who Pays	When Eligible?	What You Will Receive?
Deferred Compensation Plan	Employee	Immediately	Tax-deferred savings program for retirement.
Retirement (Texas Municipal Retirement Systems (TMRS))	City / Employee	Immediately	Employee contribution is 7 percent with a two-to-one match by the city upon retirement, with a five-year vesting.
Supplemental Benefit Plan	Employee	Immediately	Employee contribution is 2.5 percent; plan provides supplemental retirement, long-term disability and survivors benefits.
TMRS Death Benefit	City	Immediately	Employee's beneficiary receives an amount equal to previous 12-months' salary.