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TRS outlines timeline for first pension check, AAI election and excess contribution refunds
Summary
The Teachers' Retirement System explained required forms, employer reporting, timelines (60–90 days), accelerated annual increase (AAI) elections and types of excess contribution refunds new retirees should expect.
A TRS staff member presented an overview of the retirement claim timeline and what new retirees should expect between their last day of work and the arrival of the first pension payment. The presentation covered required and optional forms, employer reporting, the accelerated annual increase (AAI) election for tier 1 members, and several types of excess contribution refunds.
The TRS presenter said retirees must submit their retirement application and (recommended) direct-deposit depository agreement, and that employers must submit two required electronic forms after the member’s final day: the supplementary report (final pay, days…
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