Happy 10-year anniversary! In response to a column last school year, we heard from a number of people who discovered their school districts were improperly deducting their 3 percent pension contribution even though they've completed 10 years of membership.

So the tip bears repeating. It could mean money in your pocket.

Thanks to union-backed legislation almost 10 years ago, employers must stop deducting the 3 percent contribution for Tier 3 and 4 members who have been retirement system members for 10 years. Remember, this means membership in the Teachers' Retirement System — not just years of service.

Q: I am a Tier 4 member with less than 30 years of service. Is it possible to retire at age 55, defer taking a pension from the system for seven years and then receive a larger pension than I would have gotten at 55?

A: It is possible but may not be advisable. We suggest you schedule a video consultation from your geographic area with a TRS representative at 800-348-7298, ext. 6100. The representative can figure mathematically how long it would take if you delayed your retirement for those seven years, and hence lost seven years of retirement allowance.

Q: Does a beneficiary have to be a relative? I will be retiring in two years, and should something happen to me I would like my companion to continue to get my pension. I also have a question about the Pop-Up Survivor Option. After I provide my beneficiary's death certificate I understand that my pension pops up, but can I designate another beneficiary at that time or is my pension lost when I die?

A: Your beneficiary does not have to be a relative. In a joint-life survivor option, if the beneficiary pre-deceases the retiree, you cannot name another beneficiary. Regarding the "pop-up," if your beneficiary dies, you would begin receiving what you would have gotten if you had selected Maximum. Upon your death, the pension ends.

Q: Do Tier 4 members need to be at least age 55 and have 30 years of credited service to retire? I entered the retirement system at age 45 and don't want to work until I'm 75.

A: Tier 4 is a 30/55 plan (30 years of service/55 years of age). For the vast majority of members, who join the TRS in their 20s, that formula will afford a full pension at age 55. However, if a members who reaches age 55 and does not have the above number of years of service could retire with penalties. If you continue teaching until you have 20 years of service, you'll be 65 and could retire without any reduction in your retirement calculation. (You would have attained the 20 years needed to avoid the penalty; and being age 62 or over eliminates the penalty for less than 30 years of credited service.)