How do I retire?
As you get closer to retirement
Consider the following:
- If you are within a year of your retirement date, request an estimate of your benefit from DRS. DRS will return a retirement application with your estimate.
- Obtain a copy of Internal Revenue Service (IRS) Publication 575, Pensions and Annuities, available on the IRS Web site.
- As you approach retirement you may want to contact the record-keeper to ensure your investment choices are appropriate for the length of time you have before retirement.
Applying for retirement
You can complete the entire retirement process through the mail. Contact DRS to request a retirement application packet. (If you request a benefit estimate, you will receive an application packet when your estimate is mailed to you.)
Payment of your defined contributions
To initiate payments from your defined contribution account, obtain the Plan 3 Request for Payment of Defined Contribution Funds booklet from the record-keeper. The record-keeper also offers individualized consultations on payment plans.
