North East ISD Risk Management and Employee Benefit
Teacher Retirement System
Road to Retirement
Retirement is an individual decision that only you can make. For most people, retirement is a once in a lifetime event. While the road to retirement can be uncertain,
the process is relatively painless. The key is to get started early.
Step One: Request an estimate of retirement benefits by completing a Request of Estimate of Retirement Benefits (TRS 18) at least four to six months prior to the date of retirement. An employee who is eligible for full service retirement will find an estimate of his/her retirement options on the back of the annual statement of account. To obtain the TRS 18 form, click here. http://www.trs.state.tx.us/global.jsp?page_id=/benefits/trs18
This is not an official application for retirement, but upon receipt, TRS will provide you with information about purchasing special service, your annuity options, TRS Care health insurance, and a retirement packet containing the necessary forms to process your retirement. See Service Retirement Checklist on pages 34 and 35 of the TRS Benefits Handbook for additional information by clicking here.
You may also choose to make an appointment with a TRS counselor in Austin by calling 1-800-223-8778, Monday - Friday, 7 a.m. - 6 p.m., or TTY (for hearing-impaired persons) 1-800-841-4497.
Step Two: Submit the Employee Notice of Voluntary Resignation or Retirement form to your immediate supervisor. This form can be located on the Personnel Intranet page, or you may click here to access. http://intranet.int.neisd.net/pers/documents/Form-NoticeofVoluntaryRS-RTJan2012.pdf
Retirement Date - According to Texas Administrative Code, §29.14, "Any member who completes all service required by his or her contract for the full school year by the 15th of June, terminates his or her employment in public education in Texas by the 15th of June, and satisfies all other requirements for retirement before the 31st of May shall be eligible for retirement on the last day of May. In other circumstances, the retirement date shall be the last day of the month in which the member is last employed and satisfies all conditions for retirement. No member who has accumulated 12 months of service in the final school year before retirement may use this rule to add compensation for any additional period of service to his annual compensation."
Step Three: You may complete the forms or may seek assistance from TRS. If you choose an annuity option that would allow either all or a portion of your monthly annuity to be given to your beneficiary upon your death, you will need to provide a legible copy of your beneficiary's birth record as well. Your name and Social Security Number will be written on the copy(ies) of the birth record(s). Your original TRS forms and copy(ies) of your birth record(s) will be mailed to TRS by certified mail with return receipt requested.
Employees with ten consecutive years of service in the District and who are eligible for retirement under TRS are entitled to reimbursement for their unused state and local leave earned in the District. The rate of reimbursement will be equivalent to one-half of their daily rate of pay up to a maximum of $40 per day for up to 80 days. For days in excess of 80, reimbursement will be at one-fourth of the daily rate of pay to a maximum of $20 per day. For leave earned on or after July 1, 2005 the rate of reimbursement will be equivalent to one-half of the daily rate of pay up to a maximum of $75 per day for the first 80 days. For days in excess of 80, reimbursement will be at one-fourth of the daily rate of pay to a maximumof $65 per day. To see Board Policy on Leave reimbursement, click here.
Social Security and Medicare Eligibility
There are other considerations related to your retirement that you may want to explore, such as Social Security and Medicare eligibility. Social Security Administration provides services by phone:
· If you need an appointment or to speak to a service representative, call Social Security's toll-free number, 1-800-772-1213 Monday through Friday between 7 a.m. and 7 p.m. (Eastern time).
· For hearing impaired persons, call their toll-free TTY number, 1-800-325-0778, between 7 a.m. and 7 p.m. Monday through Friday.
You may also visit their website at www.ssa.gov. There are two specific publications that may be of importance to you:
· SSA Publication No. 05-10007 - Government Pension Offset - A law that affects spouses and widows or widowers, http://www.ssa.gov/pubs/10007.html
· SSA Publication No. 05-10045 - The Windfall Elimination Provision - How It Affects Your Social Security Retirement or Disability Benefits, http://www.ssa.gov/pubs/10045.html
If you are ready to retire, but not ready to stop teaching entirely, you may be a good candidate to be rehired. The Personnel Department can answer questions regarding the District's policies on rehiring. TRS has specific rules for qualified individuals interested in this option. Please refer to the TRS Benefits Handbook, Employment after Retirement for Service Retirees, page 27 and 28 for further information.
If you have already made the decision to retire, congratulations and thank you for your many years of devoted service. Retirement can be the start of a new and exciting phase of your life!
For Further Assistance
If you have any questions or need assistance, you may contact the Employee Benefits Office at 407-0187.