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First Retirement Check

Retirement application forms and supporting documents are accepted by our office up to 180 days in advance of your termination of teaching service date. If you and your employer provide us with the required retirement forms and supporting information on a timely basis, you should receive your first retirement check within 30 to 60 days of your effective date of retirement.

Due to the large number of educators who retire at the end of the school year, the processing of summer retirement applications may take longer. If your effective date of retirement is in June or July, you can expect to receive your first retirement check during the first week of July, August or September and certainly no later than the first week of October depending upon the timely receipt of your required documents.

The first check includes retirement benefits retroactive to your effective date of retirement. For example, if your effective date of retirement is June 16 and your first check is issued during the first week of September, it will include payment for three and one-half months of benefits. Subsequent monthly checks are issued during the first week of each month.

Electronic Direct Deposit

Retirement annuity payments can be electronically deposited in banks, savings and loan associations, credit unions, or other financial institutions associated with the National Automated Clearinghouse Association or a successor. Electronic direct deposit is convenient and provides protection against theft and the uncertainties of postal delivery. It also ensures safe, accurate and timely direct deposit of payments to your account on the first banking day of the month.

Direct deposit may be made to an individual account or to a joint account with your spouse or any other person.

If you do not choose to have your annuity payment direct deposited at the time you retire, be assured that you may choose this option at any time. You can make your direct deposit designation by logging in to your member account, printing a form from the Member Forms Section of this web site, or by calling Member Services at 651-296-2409 or 800-657-3669.

Address Change

Since your pension check cannot be forwarded by the U.S. Postal Service, it is very important to notify us in advance of permanent or temporary address changes. Please let us know at least 30 days before the date that a temporary address is to begin and 30 days before the date on which you plan to return to your permanent address.

Even if monthly benefit payments are electronically deposited directly to your bank or credit union account, we need your current address to send the TRIB — our quarterly newsletter, 1099-R annuity income tax statements and other informational material.

You can change your address online or, if you prefer, call Member Services at 651-296-2409 or 800-657-3669, or mail or fax your written request to our office.

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