Retiree Account FAQs

When you retire with TCDRS, the Account Summary page in your online TCDRS account will change to reflect your new account needs.

From your online account, you will be able to update your banking information, view and update your tax withholding, access annuity verifications and electronically upload documents, such as a Durable Power of Attorney.

You can also update your contact information, such as your mailing address, email and phone number. If you used your work email with your member account, be sure to change it so you don’t miss out on communications.

If you haven’t yet registered online, it’s quick and easy. You will need your TCDRS account number to register. If you do not have your account number, please call TCDRS Member Services at 800-823-7782.

Here are the most common questions about retiree accounts:

 

Q) When will I receive my direct deposit?

A) Direct deposits are typically the last business day of the month unless they fall on a holiday. For 2020, direct deposit dates are:

• January 31

• February 28

• March 31

• April 30

• May 29

• June 30

• July 31

• August 31

• September 30

• October 30

• November 30

• December 31

You will receive a direct deposit magnet with your annual benefit statement provided each January.

 

Q) How do I update my banking information?

A) You can update your banking information securely when you sign into your online account.

 

Q) How much should I withhold from my benefit payment?

A) How much you should withhold depends on your filing status and total income, not just the amount of your TCDRS benefit payment. Talk to the IRS or a tax professional to assist you. The IRS Withholding Calculator is also a helpful resource.

 

Q) How can I change how much you are withholding from my TCDRS benefit payment?

A) To see how much is being withheld from your payment for federal taxes, sign into your online TCDRS account. You can use the TCDRS withholding calculator to see how different options impact your benefit payment. You can change your withholding at any time when you sign into your online TCDRS account.

 

Q) When will I receive my information to file my taxes?

A) Before the end of January, TCDRS will mail you a copy of your IRS 1099-R and post it to your online TCDRS account. The IRS will accept a printout of your 1099-R for your paper-filed tax return.

If you receive benefits from multiple TCDRS employers, you will receive a separate 1099-R for each account. Watch your mailbox for a 1099-R from each account. It is possible that the forms will arrive on different days.

Account Update