To: Employees Preparing to Retire
From: Tamica Harrison, Benefits Officer
RE: Retirement Applications
If you are planning to retire and need information regarding the specific dollar amount of your retirement deposit under the various payment options, then you must contact Tennessee Consolidated Retirement System (1-800-770-8277). The Finance Department has no information regarding your retirement account balance or benefit estimate. General information, forms, and a benefit calculator are available on the TCRS website: http://treasury.tn.gov/tcrs/.
Once you are ready to complete the applicable forms, please call the Finance Department to make an appointment (615-384-0202). When scheduling the appointment, please provide name, social security number, and anticipated date of retirement. This will provide time for many forms and calculations to be completed prior to your arrival. Expect the meeting to last 30-45 minutes.
Lastly, once you determine you are indeed retiring, you will need to complete a retirement notification through the Central Office to inform them of your retirement date.
Each retiree should bring the following to the appointment:
1. A copy of the retiree's driver's license, birth certificate, or passport (copy can be made by the Finance Department).
2. A voided check or savings deposit slip for direct deposit.
3. Beneficiary's name, address, date of birth, and social security number and a copy of driver’s license or birth certificate
4. If the Social Security option will be selected, then TCRS requires that you submit a benefit estimate from Social Security Administration. Please note that the date of the benefit estimate must be within one year prior to your planned retirement date. You may obtain an estimate by going to http://www.socialsecurity.gov/.
5. If the retiree will be continuing medical insurance at retirement and the retiree (and/or spouse, if applicable) is Medicare eligible, then a copy of the Medicare card(s) will be required.
TCRS recommends filing an application for retirement 60 to 90 days prior to the last paid working day of service. This helps to insure there will be no gap between final active payroll deposits and the start of retirement deposits. For employees planning to retire at the end of the school year, the last day of school is considered the last working day.
Details regarding all of the retiree's insurance and the applicable termination dates of the coverage will be provided at the appointment. Contact information for other voluntary insurance products that are payroll deducted will also be provided. Any other questions or concerns you may have can be addressed at the appointment as well. You may contact me at your convenience if needed: email@example.com or 615-384-0202.