Benefits Education - OTRS Timeline
Employees nearing retirement with Oklahoma Teachers' Retirement System (OTRS) have a strict timeline that must be adhered to in order to receive their OTRS retirement check in a timely manner. OTRS retirement date is always the first day of the month and any delay in the timeline will push your retirement date back by a full month with OTRS.
Following is an example timeline for an OTRS Retirement Date of November 1:
No later than August 1 submit a “Pre-Retirement Information Verification” (PIV) form to OTRS.
OTRS will send you a packet with your “Intent to Retire” (ITR) and “Employer Retirement Verification” (ERV) forms.
No later than September 1 submit the ITR form to OTRS with your retirement choice. Submit the ERV to OSU Benefits for processing.
OTRS will send your final retirement contract.
- No later than October 1 complete and return to OTRS the Retirement Contract and Benefit Payment Authorization forms.
- OTRS Retirement Date is November 1, and final work day at OSU can be no later than November 10.
- First OTRS Retirement payment will be deposited December 1.
The PIV and OTRS timeline can be found at http://www.ok.gov/TRS/documents/PIV.pdf.