Your retirement benefit accrues from the first day of the month following the date you terminate employment. Your benefit is paid at the end of each month and, in most cases, can be deposited directly in your bank or credit union account.
After you retire, it is important that you keep DRS informed of your current mailing address, even if you have your check deposited directly in your bank or credit union account. This way you can be assured of receiving information about your benefits and income taxes in a timely manner.
The Teachers’ Retirement System is administered by DRS. The Director of DRS is appointed by the Governor and is responsible for administering TRS.
If you receive an overpayment of your retirement benefit or withdrawal, DRS will require repayment of the overpaid funds. If there is an underpayment, DRS will correct the error and pay you in full.
Under the DRS internal review procedures, all “appeals” begin as “petitions.” You may challenge a decision of a DRS administrator by filing a petition within 120 days of your receipt of the decision. A petition will be reviewed by the DRS Petitions Examiner.
To file a petition, complete and submit a detailed statement of:
The Petitions Examiner will ask for relevant information from the involved parties. Usually, this means you, DRS, and possibly your employer. After review, the Petition Examiners will enter a written decision and mail that decision to you by certified mail.
If you are not satisfied with the petition decision, you may file an appeal within 60 days of receipt of the decision. Included with your petition decision will be information describing how to file an appeal. An appeal will be heard by either the DRS Presiding Officer or an Administrative Law Judge.