Frequently Asked Questions
Q. | What if I have an Interruption of Service before I reach Normal Retirement and select a date for benefits to begin that is before I reach Normal Retirement? |
A. |
You can request to receive an application at any time during the 30- to 90-day period before the date on which you wish to begin receiving your benefits. If you are entitled to receive your benefits in the form of an annuity (because the actuarial value of your benefit is greater than $1,000), you will be provided with the necessary application materials as soon as practical. If you return the completed forms before the later of your requested annuity starting date or 30 days after the date you received the application materials, your benefits will begin as scheduled. However, if you return the forms fewer than 30 days before your intended starting date, your benefits will begin as of your intended starting date but your first month's payment will be delayed and issued with your second month's payment. If you do not return the forms by the deadline, you must request updated application materials and select a new beginning date that is at least 30 days after you make the request. If you have an Interruption of Service before you reach Normal Retirement and do not select a beginning date before you reach Normal Retirement (and you are entitled to receive your benefits in the form of an annuity), Retirement Services will provide you with an application in the 30- to 90-day period before your Normal Retirement Date (assuming Retirement Services can locate you). If you return the completed forms before the later of your Normal Retirement Date or 30 days after the date you received the application materials, your benefits will begin as scheduled. However, if you return the forms fewer than 30 days before your Normal Retirement Date, your benefits will begin as of your Normal Retirement Date but your first month's payment will be delayed and issued with your second month's payment. If you do not return the forms by the deadline, your benefit will not start until you submit the application material. At that time you will receive back payments (with interest) from your Normal Retirement Date based on the payment form you select. If you remain in Covered Employment until Normal Retirement, you will be provided with the necessary application materials as soon as practical after you notify Retirement Services that you intend to retire. If you return the completed forms within 30 days after you receive the application materials, your benefits will begin as scheduled in the form of payment you elect. However, if you return the forms fewer than 30 days before your intended starting date, your benefits will begin as of your intended starting date but your first month's payment will be delayed and issued with your second month's payment. If you do not return the forms by the deadline, your benefits will not begin until you submit a completed application. If Retirement Services delays providing you the necessary application materials so that you do not receive them before your desired annuity starting date, you may still choose to have your payments begin as of the date you selected, provided that your spouse (if you are married) consents to the earlier beginning date. If this happens, you will receive a catch-up payment (with interest) for the payments that you did not receive. If you and your spouse do not agree to the earlier beginning date and you have not yet reached Normal Retirement, you must request updated application materials and select a new beginning date that is at least 30 (preferably 60) days after you make the request. If you and your spouse do not agree to the earlier beginning date and you have reached Normal Retirement, your benefit will begin as of the first day of the month after you receive the application materials, and your benefit will be increased actuarially to compensate you for this delay. No back payments will be made. |