A new retiree has one (1) year after his or her effective retirement date to make changes in his or her annuity election. However, from a member's effective date, a member may only change the Option election once during the first year of retirement. If the election change reduces the member's payable monthly benefit, the member must promptly reimburse ATRS any overpayment with interest.
If a retiree is newly married at the time of retirement or marries after retirement, the member may elect to cover the spouse after being married one (1) full year. Upon meeting the one (1) year marriage requirement, the member has six (6) months to file an election to cover the spouse under Option A or Option B. (See Review of Annuity Options)
Important After retirement and upon the death of a beneficiary or the divorce or marriage dissolution from a spouse designated as a beneficiary, a retiree may cancel any optional plan elected at retirement and return (pop-up) to the straight life annuity.
For more information specific to your situation, please contact an ATRS Counselor at (501) 682-1517 or info@artrs.gov.