We present the benchmarking, validation, and results of an approximate, analytic model for the radial profile of the stress, strain, and displacement within the toroidal field (TF) coil of a Tokamak at the inner midplane, where stress management is of the most concern. The model is designed to have high execution speed yet capture the essential physics, suitable for scoping studies, rapid evaluation of designs, and in the inner loop of an optimizer. It is implemented in the PROCESS fusion reactor systems code. The model solves a many-layer axisymmetric extended plane strain problem. It includes linear elastic deformation, Poisson effects, transverse-isotropic materials properties, radial Lorentz force profiles, and axial tension applied to layer subsets. The model does not include out-of-plane forces from poloidal field coils. We benchmark the model against 2D and 3D Finite Element Analyses (FEA) using Ansys and COMSOL. We find the Tresca stress accuracy of the model to be within 10% of the FEA result, with the largest discrepancy resulting from the discrete TF coil sectors. We show that this model allows PROCESS to optimize a fusion pilot plant, subject to the TF coil winding pack and coil case yield constraints. This model sets an upper limit on the magnetic field strength at the coil surface of 29 Tesla for steel TF coil cases, with the practical limit being significantly below this.