Employee Contributions: Required 5% 0% 5% Employee Contributions: Auto-enroll (1) NA 2% 2% Employee Contributions: Voluntary (2) NA IRS Limit IRS Limit Employer Contributions: 401k (3) NA $50 $50 match Total (excluding $50 match) 9% 7% 16% Employees may opt out of the auto-enroll contributions. Employees may make additional voluntary contributions to the 401k, 457, and 403b plan up to Federal IRS Employer match up to $50 per month for employees contributing to 401k. Vesting: Defined Benefit Plan Contribution Rate Vesting Rights Employer Contributions 4% 5 of service Employee Contributions: Required 5% Immediate including credited interest by TCRS – Defined Contribution Plan Contribution Rate Vesting Rights Employer Contributions 5% Immediate including earnings (excluded from loans) – Employee Contributions: Auto-enroll 2% Immediate including earnings – Employee Contributions: Voluntary IRS Immediate including earnings – Employer Match Up to $50 Immediate including earnings (excluded from loans) – Welcome Packet: Employees electing to participate in the TCRS Hybrid Plan will receive an Active Member Welcome Packet. This packet is mailed to the home address and will contain instructions on accessing Member Self-Service (MSS) and electing a beneficiary.
Employee Contributions: Required 5% 0% 5% Employee Contributions: Auto-enroll (1) NA 2% 2% Employee Contributions: Voluntary (2) NA IRS Limit IRS Limit Employer Contributions: 401k (3) NA $50 $50 match Total (excluding $50 match) 9% 7% 16% Employees may opt out of the auto-enroll contributions. Employees may make additional voluntary contributions to the 401k, 457, and 403b plan up to Federal IRS Employer match up to $50 per month for employees contributing to 401k. Vesting: Defined Benefit Plan Contribution Rate Vesting Rights Employer Contributions 4% 5 of service Employee Contributions: Required 5% Immediate – including credited interest by TCRS Defined Contribution Plan Contribution Rate Vesting Rights Employer Contributions 5% Immediate – including earnings (excluded from loans) Employee Contributions: Auto-enroll 2% Immediate – including earnings Employee Contributions: Voluntary IRS Immediate – including earnings Employer Match Up to $50 Immediate – including earnings (excluded from loans) Welcome Packet: Employees electing to participate in the TCRS Hybrid Plan will receive an Active Member Welcome Packet. This packet is mailed to the home address and will contain instructions on accessing Member Self-Service (MSS) and electing a beneficiary.