Bexar Texas Retirement Benefits Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Bexar
• Control #: US-CC-21-166
• Format: Word; Rich Text

Description

21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service The Bexar Texas Retirement Benefits Plan is a comprehensive retirement program offered to qualifying employees of Bexar County, Texas. This plan aims to provide financial security and peace of mind for individuals who have dedicated their careers to public service within the county. With various options and features, the Bexar Texas Retirement Benefits Plan caters to the diverse needs of its members. One of the main benefits of this plan is the opportunity for employees to accrue a considerable retirement income throughout their working years. Participants can contribute a portion of their salary to the plan on a pre-tax basis, allowing for tax savings while building a nest egg for their retirement. The Bexar Texas Retirement Benefits Plan offers different types of retirement options to suit the preferences and circumstances of its members. One such option is the defined benefit plan, which guarantees a predetermined monthly income for life based on factors like years of service and final average salary. This plan enables employees to enjoy a stable and predictable retirement income, providing financial security even in uncertain times. Additionally, the Bexar Texas Retirement Benefits Plan includes a defined contribution plan. This plan allows employees to contribute a portion of their income to a personal retirement account, which is then invested in a range of investment options. The value of the account upon retirement depends on the contributions made by the employee and the performance of the chosen investments. This flexible option empowers individuals to take an active role in managing their retirement savings and potentially benefit from market growth. Moreover, the Bexar Texas Retirement Benefits Plan may offer ancillary benefits such as disability benefits, health insurance, and survivor benefits to further protect employees and their families. These additional benefits provide a safety net in case of unexpected circumstances, ensuring the overall well-being of plan participants. In conclusion, the Bexar Texas Retirement Benefits Plan is a comprehensive retirement program designed to offer financial security and stability for qualifying employees of Bexar County, Texas. With various retirement options, including defined benefit and defined contribution plans, participants have the opportunity to customize their retirement savings journey. Moreover, the plan may include additional ancillary benefits, further enhancing the overall retiree experience. The Bexar Texas Retirement Benefits Plan serves as a valuable tool in helping employees plan and prepare for a rewarding and worry-free retirement.

The Bexar Texas Retirement Benefits Plan is a comprehensive retirement program offered to qualifying employees of Bexar County, Texas. This plan aims to provide financial security and peace of mind for individuals who have dedicated their careers to public service within the county. With various options and features, the Bexar Texas Retirement Benefits Plan caters to the diverse needs of its members. One of the main benefits of this plan is the opportunity for employees to accrue a considerable retirement income throughout their working years. Participants can contribute a portion of their salary to the plan on a pre-tax basis, allowing for tax savings while building a nest egg for their retirement. The Bexar Texas Retirement Benefits Plan offers different types of retirement options to suit the preferences and circumstances of its members. One such option is the defined benefit plan, which guarantees a predetermined monthly income for life based on factors like years of service and final average salary. This plan enables employees to enjoy a stable and predictable retirement income, providing financial security even in uncertain times. Additionally, the Bexar Texas Retirement Benefits Plan includes a defined contribution plan. This plan allows employees to contribute a portion of their income to a personal retirement account, which is then invested in a range of investment options. The value of the account upon retirement depends on the contributions made by the employee and the performance of the chosen investments. This flexible option empowers individuals to take an active role in managing their retirement savings and potentially benefit from market growth. Moreover, the Bexar Texas Retirement Benefits Plan may offer ancillary benefits such as disability benefits, health insurance, and survivor benefits to further protect employees and their families. These additional benefits provide a safety net in case of unexpected circumstances, ensuring the overall well-being of plan participants. In conclusion, the Bexar Texas Retirement Benefits Plan is a comprehensive retirement program designed to offer financial security and stability for qualifying employees of Bexar County, Texas. With various retirement options, including defined benefit and defined contribution plans, participants have the opportunity to customize their retirement savings journey. Moreover, the plan may include additional ancillary benefits, further enhancing the overall retiree experience. The Bexar Texas Retirement Benefits Plan serves as a valuable tool in helping employees plan and prepare for a rewarding and worry-free retirement.