Ask the Expert: I Want to Retire In A Year. What Do I Have To Do?
You are ready to retire? Yes? That’s great! Here are some important steps to help you get started.
- Choose a retirement date. Using the STRP Pension Estimator can help!
- Request a formal pension estimate and retirement application package from the STRP at least 6 months in advance of your retirement date.
- Complete the required forms, then mail them along with all required documents to the STRP two months prior to your chosen retirement date.
- Notify your employer in writing at least 30 days prior to your date of retirement.
- Once your completed retirement package has been received, and your school board has remitted your final pension information to the STRP, your final retirement calculation will be completed. Your monthly pension will be paid on the last banking day of each month.
That’s it! Congratulations, you are officially retired.
Visit the Planning for Retirement section of the website for a deeper dive on how to prepare for retirement.