| Retirement
Timeline |
| 12
Months Prior to Retirement |
Attend
one of APERS retirement seminars.
|
- If
you have not investigated the possibility of purchasing
prior service, contact APERS about this option.
- Consider
how emergency expenses will be handled. Make an effort to
eliminate any debt, and pay off obligations for large purchases.
- Contact
your medical insurance provider to verify your post-retirement
eligibility and rates.
- Evaluate
your life insurance needs and contact you life insurance
provider for information regarding eligibility rates.
- Write
or make an appointment to see a retirement counselor for
an estimate of your potential monthly retirement annuity.
- Study
the benefit option plans available from APERS. You may select
Straight Life, Option A60, Option A120, Option B50, or Option
B75.
- Consider
status of taxation after retirement.
|
| 6
to 9 Months Prior to Retirement |
| Request
an Application for Retirement Annuity form from APERS. Call
501-682-7830 or 1-800-682-7377 outside Pulaski County, or write
to APERS. |
- Do
a post-retirement budget to determine if your standard of
living can be maintained.
|
| 1
to 3 months Prior to Retirement |
| Return
the completed Application for Retirement Annuity forms (i.e.
Application, Direct Deposit, etc.). Make sure that your employer
has completed and submitted the Verification of Wages form that
was included in the Application for Retirement. |
After Retirement |
Notify
APERS in writing of any address change. Important correspondence,
such as 1099-R forms to be filed with your income tax and Cost
of Living Adjustment information, will be mailed to your home
address.
- You
may not return to work for an employer covered by APERS
for at least thirty (30) days from the effective date of
your retirement. Elected officials may not return to work
for an employer covered by APERS for at least ninety (90)
days from the effective date of retirement.
- Any
status change, i.e. direct deposit change, beneficiary change,
etc., must be made through APERS. Contact APERS
for the paperwork necessary to make these changes.
- Enjoy
your retirement!
|
