With TCDRS, Retirement is More Than Fantasy

Early in your career, retirement can feel out of reach. But now that you've drafted TCDRS onto your retirement dream team, you're well on your way to a championship.

By Rebecca L. Bennett

 

Gen Z-ers and Millennials are sometimes portrayed as over-spenders, but studies have shown that people in younger generations actually do care about making smart money moves and saving — and investing! — for the future.

The struggle for younger workers is that retirement is a long way off. That, combined with rising costs, debt and challenging economic conditions, makes retirement feel unrealistic. “If I can’t even save enough to buy a home,” younger savers wonder, “how could I ever afford retirement?”

We get it, and we’re here to help you build your retirement gameplan in any way we can, whether that’s answering your questions about how your benefit works in a TCDRS Online Counseling session, hosting webinars customized for your specific career stage or providing resources and tips to assist you in meeting your other financial goals.

Another major benefit to having us as a part of your retirement dream team is that we provide G.O.A.T.-level plan features that can help you secure a “win” and retire comfortably someday, such as:

Automatic Savings

Having a TCDRS account means you’re automatically saving money for retirement. Each time you receive a paycheck, a percentage of your income is deposited into your TCDRS account. Your employer picks the percentage — between 4-7% — and we handle the rest, so you can focus on taking care of business.

Compound Interest

Once deposited into your account, your money also grows with compound interest based on your Jan. 1 account balance. This is where the power of your TCDRS account truly lies. Over time, your retirement savings will really start to stack up.

However, in order to really score a “win” and make the most of these plan features, you need to get vested and then leave your TCDRS account open no matter where your career takes you. If you do that, you’ll get guaranteed retirement income through TCDRS when you become eligible and choose to retire.

Digital Account Management

Every pro athlete has a characteristic, go-to technique or talent they’ve mastered that helps them achieve greatness on the court.

Here at TCDRS, one of our bread-and-butter moves is making it as easy as possible for our members to accomplish anything and everything they might need to do for their TCDRS account in our online Member Portal at TCDRS.org.

We’ve put in the work to ensure it’s a seamless experience. See what you can do online and sign in today to watch your money grow! That’s a swish.

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