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http://www.ci.pasadena.tx.us/users/0004/images/retirementpic.jpg

Texas Municipal Retirement System

The City of Pasadena is part of the Texas Municipal Retirement System (TMRS).

What is TMRS?

TMRS administers a retirement plan for municipal employees that is funded by the contributions of its members, its member cities, and the interest earned from investment of those deposits. Under TMRS, each city chooses from a variety of retirement provisions to provide affordable, sound benefits for their employees and families.

Retirement Plan Overview

Employee contributions of 7% of their gross salary are put into a TMRS account for retirement.
Once vested (after 5 yrs of service), the City contributes on a two for one basis toward retirement.

Employees are eligible to collect retirement benefits after 20 years of service, or five years of service and 60 years of age.

http://www.tmrs.org