- Hybrid Plan - Cost Controls
- Alternate Local Gov't Plans
Retire Ready Tennessee: New Phone Support for TCRS and Deferred Compensation Plans
Now you can ask questions and receive information concerning TCRS and your Tennessee Deferred Compensation plan with one phone call.
Call 800-922-7772 to reach Retire Ready Tennessee customer service representatives who are ready to assist you with questions regarding your entire retirement.
Payees receiving payment by debit card, please refer to the "Headlines" tab for an important notice.
Great news! Concord's Self-Service is now available to Retirees, Employers and Members. Please click on the Self-Service link to access the login page. We are experiencing high call volume at this time. If you have questions about Member Self Service, please refer to the User Guide or Demonstration Video for assistance.
The Tennessee Consolidated Retirement System (TCRS) is a defined benefit pension plan that covers state employees, higher education employees, K-12 public school teachers, and employees of political subdivisions who have elected to participate in the plan. This means that the amount of any future retirement benefits is determined by a benefit formula rather than an account balance.
The TCRS provides retirement benefits as well as death and disability benefits to plan members and their beneficiaries. Benefits are determined by a formula using the member’s high five-year average salary and years of service. Members become eligible to retire at the age of 60 with five years of service or at any age with 30 years of service. A reduced retirement benefit is available to vested members with five years of service who become disabled and cannot engage in gainful employment. There is no service requirement for disability that is the result of an accident or injury occurring while the member was in the performance of duty.
Please click HERE to view the fees associated with the debit cards issued for retirement payments beginning April 30, 2013.
Tennessee Consolidated Retirement System’s recognition of claims under Qualified Domestic Relations Orders (QDRO)
Retirement benefits may be impacted by a divorce. The Tennessee Consolidated Retirement System (“TCRS”) began recognizing claims under qualified domestic relations orders (“QDRO”) effective July 1, 2016 under exemptions in state and federal law. TCRS will recognize claims for payment under QDROs on the standard form at treasury.tn.gov/tcrs/PDFs/QDRO-Form.pdf that are dated on or after July 1, 2016, so long as the QDRO relates to the provision of marital property rights relating to TCRS for the benefit of the member’s former spouse. The form and the instructions for completion are available on the TCRS website at treasury.tn.gov/tcrs/Forms.html under the QDRO tab. The TCRS Board of Trustees has adopted proposed rules for QDRO recognition, which are posted on the Secretary of State’s website at http://share.tn.gov/sos/rules/1700/1700-03/1700-03-03.20160626.pdf.
Members of TCRS who are also participants in the State of Tennessee Deferred Compensation Program, including those who participate in the State’s Deferred Compensation program as members of the Hybrid Plan, will need a separate QDRO if division of Deferred Compensation benefits is desired. The State’s Deferred Compensation Program will recognize QDROs dated on or after July 1, 2016. Processing of QDROs for Deferred Compensation will be done by the Deferred Compensation Program’s third party administrator, Empower Retirement Services. To obtain the Deferred Compensation Program's QDRO form, please contact Empower Client Services at 800-922-7772.
2016 COLA (Cost of Living Adjustment) for TCRS Retirees
Retired teachers and state employees who have been on the TCRS retired payroll for at least 12 consecutive months as of July 1, 2016 will receive a 1.0% cost-of-living adjustment.
Retirees of local governments that have authorized COLAs will receive the same increase.
QRDO Claims Recognized beginning July 1, 2016
Retirement benefits may be impacted by a divorce. As a governmental retirement plan, the Tennessee Consolidated Retirement System (“TCRS”) has not recognized claims under qualified domestic relations orders (“QDRO”) under exemptions in state and federal law. However, effective July 1, 2016, TCRS will recognize claims for payment under QDROs. ...more
Fraudulent Email Targeting Debit Card Holders
(January 20, 2015)
The Tennessee Consolidated Retirement System (TCRS) has been made aware that a fraudulent email could be distributed to all TCRS debit card holders. more...
Alert to Active Johnson City Power Board Employees Participating in the Tennessee Consolidated Retirement System
(December 23, 2013)
The Tennessee Department of Treasury is informing active Johnson City Power Board employees about a theft of personal information. more...
Alert to Active Metro Nashville Teachers Participating in the Tennessee Consolidated Retirement System
(December 14, 2013)
The Tennessee Department of Treasury is informing active Metro Nashville teachers about a possible theft of personal information. more...
Consumer Alert: Misleading Mailout Sent to TCRS Members
(September 25, 2013)
TCRS has been made aware of a misleading mailout sent to TCRS members from a Texas-based company not affiliated with TCRS. This mailing makes incorrect and misleading statements about TCRS. Members should contact TCRS directly with questions about their benefits. more...
Tennessee Consolidated Retirement System Approves Four New Investment Commitments
(March 28, 2013)
The investment committee of the Tennessee Consolidated Retirement System (TCRS) Board of Trustees has approved two new commitments within its private equity portfolio and two new commitments within its strategic lending portfolio. more...
Tennessee's State Pension Fund Rated Best in Nation for Investment Strategy
(March 19, 2013)
Tennessee Consolidated Retirement System (TCRS), the state's retirement fund for state government, higher education and other public employees, is managing its investments better than any other large public pension plan in the country. So says Money Management Intelligence, a publication featuring news, trends and analysis about and for institutional investors. more...
Treasurer Lillard Proposes New Pension Options for State & Teacher Plans
(February 25, 2013)
State Treasurer David H. Lillard, Jr. is recommending that the General Assembly adopt a number of reforms to the state's retirement plan for public employees. The Tennessee Consolidated Retirement System (TCRS) is a well-funded pension plan. more...
(November 29, 2012)
The Active member employee newsletter is now available. Click here to view the current issue of the TCRS Report.
TCRS Board Meetings
(November 1, 2012)
Information concerning the current and past board meetings can be found here.
Treasurer Lillard Proposes New Pension Options for Local Governments
(January 23, 2012)
To give local governments more choices for their employees’ retirement plans, Tennessee State Treasurer David H. Lillard Jr. today proposed several new options to state legislators for their consideration. more...
Important Tax Notice
(January 19, 2011)
Many of you may have noticed a change in the withholding tax deducted from your TCRS benefit payment in January. In 2009 and 2010 there was a "Making Work Pay" federal tax credit in effect as part of the American Recovery and Reinvestment Act. The “Making Work Pay” tax credit expired on 12/31/2010. This means that most retirees will notice an increase in the amount of federal withholding deducted.
In addition, TCRS has received several questions concerning the effect the Social Security rate decrease from 6.2% to 4.2% will have on their monthly pension benefits. This change will not affect TCRS pension recipients since the pension benefits are not subject to the Social Security tax.
At any time, you can change the amount of taxes being withheld from your monthly retirement benefit by completing a Substitute Withholding Certificate for Pension or Annuity Payments form. This form can be downloaded at tcrs.tn.gov. You may also send a letter indicating any changes to TCRS, ATTN: Retired Payroll, 502 Deaderick Street, Nashville, TN 37243-0201.
Tennessee's Retirement Fund in Good Shape Compared to Others
(July 25, 2010)
Good economic news can be hard to find in the Capitol building, but Tennesseans can breathe a little easier about one corner of the state budget. ...more
(Knoxville News Sentinel article by Josh Flory. Posted July 25, 2010.)
Financial Welfare of TCRS
The financial marketplace has been exhibiting a high degree of volatility for several months, mainly due to issues related to the mortgage industry. Several Tennessee Consolidated Retirement System (TCRS) members and retirees have expressed concern. ...more
Legislation has been enacted to create a new Hybrid pension plan for state employees and K-12 teachers hired on or after July 1, 2014. Current employees or retirees are not affected by the changes. Local governments also have the option to adopt the new Hybrid pension plan with cost controls. You can find more information concerning the new plan can below.
- Frequently Asked Questions for Employers and Employees Updated July 8
- New Employee Brochure - Hybrid Pension Plan (Group 1 General Employees) New!
- New Employee Brochure - Hybrid Pension Plan (Judges, Attorney General,
District Attorney General, District Public Defender) New!
- New Employee Brochure - Hybrid Pension Plan (General Assembly) New!
- New Hire Flowchart New!
During the 2012 session, the General Assembly passed legislation which expanded the TCRS retirement options a local government can offer to their employees. These changes would only apply to new local government employees hired after passage of a resolution by the local government. Since these changes are optional, there is no requirement for local governments to implement these changes. To view more information regarding these options, please click on the link(s) below.
Individuals with disabilities who wish to participate in these proceedings and require an accommodation should contact Bridget Dorse with Tennessee Consolidated Retirement System no less than two (2) days prior to the scheduled meeting date to allow time for the Treasury Department to arrange for an accommodation. You may contact the Treasury Department at 502 Deaderick St., Nashville, TN 37243; (615) 741-7063 or the Board Administrator Bridget Dorse by email at firstname.lastname@example.org.
|Concord is a Tennessee Treasury Department project to replace the computer systems that are used to administer the Tennessee Consolidated Retirement System (TCRS). To learn more about the Concord project, please click here.|
Member Reference Materials:
MSS Training Videos:
Session 1: Contact Information, Account History, Annual Statement, Beneficiary Information New!
First Steps in Accessing ESS Quick Reference Guide
Session 7: Prior Period Adjustments New!