This is the final reminder for members retiring at the end of this school year or planning to enter T-DROP in the 2014-2015 fiscal year that the deadline to be a July 1st retiree or enter T-DROP in the 2014-2015 fiscal year is May 31, 2014. ATRS staff is ready to assist you by being open May 26, 2014 through May 31, 2014 from 8:00 a.m to 4:30 p.m. ATRS will be ready to serve you.
I have attached:
1. The deadline notice with information about retirement and T-DROP
2. FAQs on retirement
3. FAQs on T-DROP.
ATRS must receive your retirement application, or have it post marked from the U.S. Postal Service, by May 31st or before in order for you to become a July 1st retiree. ATRS must receive your T-DROP application, or have it post marked from the U.S. Postal Service, by May 31st or before in order for you to become a 2014-2015 T-DROP participant. Reduce your stress level and get your retirement application submitted as soon as possible. You can always cancel your retirement application if you change your mind, up to 2 months after the effective date of benefits.
Also remember that you can go to the ATRS website at: http://artrs.gov/index.php?option=com_comprofiler&task=registers and sign up to get updates from ATRS automatically on your public or private email address, or both. The update attached to this email is also available on the ATRS website under executive director updates. Over 4,100 people have already signed up to receive this type of email update and other ATRS information via this email list.
You can also get helpful ATRS information on the ATRS Facebook page athttp://www.facebook.com/arkansasteacherretirementsystem under the name of Arkansas Teacher Retirement System. Approximately 1400 Facebook users get updates via the ATRS Facebook page. Go to the Facebook page and "like" ATRS to get daily updates. I try to go to the Facebook page every day to answer member questions about ATRS.
Respectfully,
George Hopkins
Click on the following document(s) for more information:
Executive Director Update: Final Notice Retirement Deadline May 31st
July 1, 2014 Retirement FAQ'S
July 1, 2014 T-DROP FAQ'S
1. The deadline notice with information about retirement and T-DROP
2. FAQs on retirement
3. FAQs on T-DROP.
The information in the attachments may be helpful if you have questions. Please know that you can get help by emailing or calling ATRS also.
If you are retiring at the end of this school year but have been slow to get the paperwork started, TIME IS SHORT! ATRS will be open Monday through Saturday next week to help you cross the finish line. Yes ATRS will be open both Memorial Day and Saturday May 31st to give you the final assistance needed. We will be here so let us help you!
If you are sure it is time to retire, I have attached a summary of things to consider as you begin the retirement process. Read it fast since time is very short! It is best to retire on July 1st rather than August 1st. Retiring onJuly 1st ensures you will receive the 3% Cost of Living Adjustment (COLA) the following July 1st. If you retire August 1st , you will wait 23 months to get your first COLA raise. You have to be retired a full fiscal year to get the first COLA and it becomes automatic after that on each July 1st.
I have also attached information on T-DROP for things you should consider. If you are in T-DROP now and thinking about retiring from T-DROP, remember that the ATRS Board has already set the highest interest rate for T-DROP to be paid in June 30, 2015. T-DROP interest rate for T-DROP participants in the T-DROP program on June 30, 2015, and payable on July 1, 2015, at the maximum 6% interest rate due to strong investment returns in the fiscal year. The Post-10 Year T-DROP interest rate was also set by a second ATRS Board Resolution at 6% for June 30, 2015, and payable July 1, 2015. Remember that T-DROP participants who submitted an application to retire out of T-DROP this year may cancel the retirement application and continue in T-DROP.
If you are sure it is time to retire, I have attached a summary of things to consider as you begin the retirement process. Read it fast since time is very short! It is best to retire on July 1st rather than August 1st. Retiring onJuly 1st ensures you will receive the 3% Cost of Living Adjustment (COLA) the following July 1st. If you retire August 1st , you will wait 23 months to get your first COLA raise. You have to be retired a full fiscal year to get the first COLA and it becomes automatic after that on each July 1st.
I have also attached information on T-DROP for things you should consider. If you are in T-DROP now and thinking about retiring from T-DROP, remember that the ATRS Board has already set the highest interest rate for T-DROP to be paid in June 30, 2015. T-DROP interest rate for T-DROP participants in the T-DROP program on June 30, 2015, and payable on July 1, 2015, at the maximum 6% interest rate due to strong investment returns in the fiscal year. The Post-10 Year T-DROP interest rate was also set by a second ATRS Board Resolution at 6% for June 30, 2015, and payable July 1, 2015. Remember that T-DROP participants who submitted an application to retire out of T-DROP this year may cancel the retirement application and continue in T-DROP.
ATRS must receive your retirement application, or have it post marked from the U.S. Postal Service, by May 31st or before in order for you to become a July 1st retiree. ATRS must receive your T-DROP application, or have it post marked from the U.S. Postal Service, by May 31st or before in order for you to become a 2014-2015 T-DROP participant. Reduce your stress level and get your retirement application submitted as soon as possible. You can always cancel your retirement application if you change your mind, up to 2 months after the effective date of benefits.
You can also get helpful ATRS information on the ATRS Facebook page athttp://www.facebook.com/arkansasteacherretirementsystem under the name of Arkansas Teacher Retirement System. Approximately 1400 Facebook users get updates via the ATRS Facebook page. Go to the Facebook page and "like" ATRS to get daily updates. I try to go to the Facebook page every day to answer member questions about ATRS.
Respectfully,
George Hopkins
Click on the following document(s) for more information:
Executive Director Update: Final Notice Retirement Deadline May 31st
July 1, 2014 Retirement FAQ'S
July 1, 2014 T-DROP FAQ'S