how to plan a retirement dinner

Document Sample
how to plan a retirement dinner Powered By Docstoc
					                                Congratulations!

Teacher's Retirement System likes to have all the paperwork submitted about 3
months prior to your retirement, when possible. For peak times such as April
1, 4 to 6 months advance are often desired. When you have completed the
package you can meet with a Benefits Counselor to discuss your retirement. If
you are planning on visiting the Teacher’s Retirement Office at Two Northside
Drive, in person for counseling, it is not necessary to meet with Benefits
staff prior to turning the forms into T.R.S. You may contact T.R.S. at (404-
352-6500). You will need to meet with someone in Benefits after you have
finalized your decision.

T.R.S. web tools are excellent to help you calculate the different options.

OHR will review and mail your papers to the Teacher’s Retirement System, if
you like.

When you meet with me please bring the following items with you:

      Retirement Package from TRS with official application completed or a
       copy if you have mailed or turned them in personally to T.R.S. Forms @
       http://www.trsga.com/

      Advance Copy of the Personal Services Form (PSF ) retiring you from
       your department, completed by your department if possible sometimes the
       department isn’t ready to complete the payroll form PSF this far in
       advance. Make a notation that about 45 prior to your date the P.S.F.
       needs to go to payroll. Your Department H.R. person can advise you how
       this will take place.

      Check book or 2 Voided checks (for direct deposit) to go to TRS and
       secondly (or direct debit) GT Accounting (404-894-0077) for your
       premiums of benefits on life, medical and dental.

      Picture i.d. of yourself and copy of driver’s license or other picture
       i.d. of your beneficiary. You will also need detail information of
       emergency contact which is not the beneficiary including their SS#.


Ideally prior to the meeting with a Benefits Counselor you should contact TRS
at 404-352-6500, then press option #2, or go to the http://www.trsga.com site
to request a report listing your retirement income under the standard
retirement plan options to review. This usually takes several weeks by mail.
If you register on the T.R.S. site at Account Manager
https://trsga.org/trsgassp/Member/MemLogin.aspx you can get a summary and
pension detail based on your actual data at T.R.S

Georgia Tech Accounting will set up an automatic debit of your account for
the monthly cost of benefits that you are allowed to keep with you into
retirement. Health and Dental benefit premiums for USG Retirees are not
deducted form the TRS check but paid directly to GT. We need a voided check
for this process. Please go to
http://www.ohr.gatech.edu/Departmental%20Folders/Benefits_web/forms/Automatic
%20Insurance%20Deduction%20Form.doc to download the ARCH Salary Reduction
form.
Georgia Tech Payroll (404-894-4614) will process your vacation payout as
reported by your department, not to exceed 360 hours. The monthly payroll
runs one week in advance of the pay date. If this is received for that
process, the payout will be included in your final pay. If it misses the
payroll cutoff, it will be deposited the following month. Vacation payout is
taxed with the supplemental taxation, as mandated by law, 25% federal and 2-
6% state. It is considered Special Wages and not part of your social
security wages for the year.

Payroll also does the TRS form 8, which confirms your pay, and TRS will match
it to your Retirement Package.

Your department will do the Teacher’s Retirement System Sick Leave
Certification on your last day of employment and send it directly to TRS.

The Benefit Staff will ask you to complete the Retirement Dinner form prior
to Retirement and an invitation will be mailed to you for the current year or
next years’ dinner. Please go to
http://www.ohr.gatech.edu/Departmental%20Folders/Benefits_web/forms/RETIREMEN
T%20DINNER%20APPLICATION.doc to download the form.

If the Benefits Staff can further assistance you, please contact our office
at 404-894-1417.

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:610
posted:3/17/2009
language:English
pages:2