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Pension

Pension - Initiating Your Retirement

It's best to contact the Administrative Office four months before your planned retirement date to request a projection and retirement application. You can prepare yourself for the retirement process by reading the "How to Apply for Retirement Benefits" and the "Payment of Benefits" sections of the Summary Plan Description. Please do not sign your retirement application more than 90 days prior to your retirement date.

Submitting An Application

After determining your retirement date and payment option, you may download the following forms or request these forms from the Administrative Office:

• Retirement Distribution Request Form
  This form notifies the Administrative Office of what type of retirement option you are selecting, when you would like to begin your retirement, and list your beneficiary(s) and their mailing address(es).
   
• Direct Deposit Authorization
  This form instructs the Administrative Office at which bank you would like your monthly benefit deposited.
   
• W4-P
  This is a W4 for pensions.  It is needed to determine the amount to be withheld for federal income tax.

Please review the forms and contact a Pension Representative at the Administrative Office with any questions you may have about filling out the forms and the different retirement options.   Remember, the Retirement Application and Election of Retirement Benefits must be signed within 90 days of your retirement date.  In addition, your spouse must sign the Spouse Consent section before a notary public or a Pension Representative if you do not select one of the spousal retirement options.

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Providing Documentation

When you submit the retirement application forms you will to need to provide proof of age documents for yourself.  If you are electing a Spousal Option, you will also need proof of age documents for your spouse.  In addition to proof of age, you need to submit a copy of your recorded marriage certificate.  If you divorced during your plan participation, you also need to submit complete divorce decrees, including findings of fact and property settlement agreements.  If you were divorced prior to your plan participation, only a copy of the decree is necessary.

Acceptable proof of age is as follows: