A method of managing a multithreaded computer system comprises instantiating, in response to each transaction initiated by a first thread of a plurality of threads, a timer object including a scheduled expiration time and a set of timeout handling information for the transaction in storage local to the first thread; registering, in response to each passing of a fixed time interval, each timer object in the storage local to the first thread for which the scheduled expiration time is earlier than the fixed time interval added to a current time in a timer processing component by adding a pointer referencing the timer object to a data structure managed by the timer processing component; and managing each timer object corresponding to a transaction initiated by the first thread that is not registered in the timer processing component in the storage local to the first thread. The timer processing component regularly processes each timer object referenced by the data structure for which the scheduled expiration time value is not earlier than the current time in accordance with the set of timeout handling information of the timer object.