- Steps to Retirement
1.Complete a Pre-Retirement Information Verification form then mail to Oklahoma Teachers Retirement System.
2.Upon Receipt of the Pre-Retirement Information OTRS will forward one of the following based on the requested date of retirement and retirement eligibility. (See Retirement Timeline above)
a. Projection of Benefits – You will receive aProjection of Benefits if you are not eligible to retire within the next 12 months. This is a snapshot of multiple years of retirement benefits much like the calculations produced in the Client Portal.
b. Application to Retire – This document serves as an application to retire. It lists the monthly retirement benefit amounts for each retirement option for which you qualify, including the PLSO.This document must be signed, and if married, your spouse’s signature is required on this form indicating the spouse has been informed of your retirement plans which entitles your spouse to marital property rights. If you have 30+ years of service credit you may select a partial lump sum distribution.TRS will mail you a Retirement Contract, which is specific to the retirement option you have selected.
3.Retirement Contract Packet - All documents must be completed and returned to TRS according to date provided on the Retirement Timeline.
– Tax Withholding Options
– Direct Deposit Information
– Employer Verification Form (ERV)
– Retirement Contract (must be notarized)