Applications must be postmarked by August 29 in order to have a June 30 retirement date
Are you considering retirement instead of returning to service in the fall? If so, please note that you have 60 days from the date of your separation from service to apply for retirement and have that date also be your effective retirement date. Thus, if you intend to retire effective on June 30, 2020 and wish to receive retroactive benefit payments, your retirement application must be received by the MTRS on or before August 29, 2020*. Otherwise, by law, your retirement will take effect 15 days after the application is received by the MTRS, and your benefits will NOT be retroactive to your date of separation from service.
*Please note that due to the unique challenges associated with the COVID-19 pandemic, including disruptions in mail service and possible unavailability of school payroll officials to complete the employer section (Part 2) of the application, the MTRS will accept applications for June 30, 2020 retirement that are postmarked no later than August 29, 2020. In addition, if members intending to retire effective June 30, 2020 are unable to have Part 2 of their application completed before August 29, 2020, the MTRS will accept Part 1 of the application, postmarked by August 29, 2020, as a placeholder.
Ready to retire? Check out our online resources and download and complete a retirement application.