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Retirement
The City of Corsicana 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. 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.
 
The City of Corsicana participates in the Texas Local Firefighters Retirement Act (TLFFRA) tax deferred retirement plan.  Firefighters are automatically enrolled as a member of TLFFRA when they begin working full-time. You will have 14% deducted from your paycheck pre-tax, and the City matches with a 14% contribution. You are vested in TLFFRA when you have earned 20 years of service credit. You are eligible to retire when you are vested and are at least age 50.


Deferred Compensation Plan
Participation in Deferred Compensation is available for employees who want to save additional money for retirement and not pay taxes on the money until it is withdrawn at retirement. The City offers two deferred compensation plans: ICMA and VALIC. 

Social Security
The City participates in Social Security.