In a processing system, a method includes transmitting a timer expiration notification from a timer management component of a processor to one or more other components of the processor in response to expiration of a timer. The method further includes transmitting, from a component of the processor that requested instantiation of the timer, a timer release confirmation message to the timer management component in response to the timer expiration notification, the timer release confirmation message confirming that the component has released the timer. The method also includes preventing reallocation of a timer identifier (ID) associated with the timer to another timer after the expiration of the timer and until receipt of the timer release confirmation message at the timer management component.