088.00.17 Ark. Code R. 005
Current through Register Vol. 49, No. 9, September, 2024
Rule 088.00.17-005 - Rule 9-9: Retirement ApplicationRULE 9-9RETIREMENT APPLICATIONI. A copy the ATRS retirement application can be downloaded from the ATRS website or requested from ATRS.II. In order for a retirement application to be timely filed, there is a three (3) month "window" to apply for retirement benefits. For active members currently employed, the window for filing your retirement application is:
A.No soonerthan four (4) months prior to your Effective Retirement Date; and,B.No later than one (1) month before your Effective Retirement Date.III.A. The member's Effective Retirement Date for purposes of ATRS retirement benefits is the 1st day of the month in which the member requests to receive retirement benefits and for which the member has submitted a timely retirement application.B. For an inactive, vested, immediately eligible-to-retire member, retirement benefits are payable the month after the retirement application is received.IV.A. If a retirement application is received by ATRS before the three (3) month window begins for the member's anticipated Effective Retirement Date, the application is not timely filed, and ATRS will reject the application and notify the member of the dates that their retirement application can be filed timely and the procedure to do so.B. If a retirement application is received after the three (3) month window ends for the member's anticipated Effective Retirement Date, the retirement application is not timely filed and the member will receive a new Effective Retirement Date beginning on the 1st day of the next month.V. This Rule does not apply to an application for disability retirement or survivor benefits. The following table shows examples of the "windows" for filing a retirement application:
EXAMPLE OF RETIREMENT FILING DATES |
Effective Date of Retirement | Retirement Application Must be Filed In: | Last Date of Employment | First Retirement Check |
January 1 | September, October or November | December 31 | End of January |
February 1 | October, November or December | January 31 | End of February |
March 1 | November, December or January | Feb 28/29 (Leap year) | End of March |
April 1 | December, January or February | March 31 | End of April |
May 1 | January, February or March | April 30 | End of May |
June 1 | February, March or April | May 31 | End of June |
July1 | March, April or May | June 30 | End of July |
August 1 | April, May or June | July 31 | End of August |
September 1 | May, June or July | August 31 | End of September |
October 1 | June, July or August | September 30 | End of October |
November 1 | July, August or September | October 31 | End of November |
December 1 | August, September or October | November 30 | End of December |
The following table is the only "window" for filing a T-DROP application:
Effective Date of Retirement | Retirement Application Must be Filed In: |
July1 | March, April or May |
HISTORY
Board Approval February 5, 2018
Effective
088.00.17 Ark. Code R. 005