Retirement

The City of Denison participates in the Texas Municipal Retirement System (TMRS). TMRS is a qualified tax-deferred retirement. You are automatically enrolled as a member of TMRS when you begin working full-time or 1,000 hours per year. You will have 7% deducted from your paycheck pre-tax, and the City matches the member contributions at a 2 to 1 basis. You are vested in TMRS when you have earned 5 years of service credit. You are eligible to retire when you are vested and are at least age 60 or if you have 20 years of service credit at any age, as of January 1, 2012.

Denison Fire Rescue civil service employees are enrolled in a TLFFRA (Texas Local Fire Fighters' Retirement Act) plan. The City of Denison matches firefighters' 13.25% contribution with an 18% match. Firefighters are vested at 10 years and are eligible to retire at 20 years of service. 

Deferred Compensation

The City of Denison makes available a 457 Deferred Compensation Plan through Equitable for employees who want to defer additional pre-tax money for retirement. Employees may enroll in deferred compensation at any time.