The information below will answer those and many more questions you may have.
Two Years BeforeRetirement: Attend Pre-Retirement Seminar
Plan to attend an OPERS Pre-Retirement Seminar when you are at least two years away from being eligible to retire. The seminar will cover the retirement forms, process and much more.
At Least Three to Six Months Before Retirement: Contact Retirement Coordinator
You will start the process by contacting your Retirement Coordinator to obtain the Retirement Application Packet. Your coordinator will assist you in completing a Retirement Application, which starts the retirement process and is used to select your retirement date and benefit option. Many coordinators have their own deadlines for retirement applications. We recommend meeting with your coordinator no less than 90 days before your planned retirement date. OPERS retirement dates are always the first day of a given month.
At least 60 Days Before Retirement: Application Deadline
Submitting your Retirement Application begins the retirement process. Submit your Retirement Application with the following forms(included in the application packet)and documents:
- Direct Deposit Authorization
- Withholding Preference Certificate
- Beneficiary Designation for Retiree Death Benefits
- Vital documents: *
- Proof of birth (you and your joint annuitant). Acceptable documents include a valid, unexpired driver’s license, passport or birth certificate. Please see Acceptable Forms of Proof of Birth Document Listor contact OPERS for more information.
- Marriage license, divorce decree and/or spouse’s death certificate
- *Legible copies of these documents are acceptable. You may be able to request copies of vital documents at www.usa.gov/replace-vital-documents. Documents will not be returned.
Your completed application must be received in the OPERS office in Oklahoma City at least 60 days before your retirement date(see Dates and Deadlines). We cannot accept retirement applications more than six months in advance for a retirement date.
45 Days Before Retirement: Acknowledgement and Paperwork
Approximately 45 days before your retirement date, OPERS will send you an Acknowledgement Letter requesting any missing documents required to complete your retirement. If you do not provide these documents by the specified due date, the payment of your retirement benefits will be delayed until the end of the following month.
Approximately 15 days before your retirement date, OPERS will send you a Preliminary Benefit Statement, which will provide the following information:
- An accounting of your total service credit in OPERS;
- An estimate of your gross monthly benefit amount;and
- The date your first two benefit payments will be issued.
Congratulations! Your retirement is officially the first day of the month. OPERS will process your retirement benefit according to your wishes. All requests for information from OPERS must be submitted before your retirement date.
Approximately 55 days after your chosen retirement date, OPERS will send you a final letter just before your first two months of benefit payments are issued stating the following:
- A final statement of benefits (gross benefit amount, withholding for insurance, federal and state income tax, and net amount); and,
- A statement showing the total contributions (both after tax and pre-tax) you have paid into OPERS.
Your first two months of benefit payments will be deposited on the last working day of the second month of your retirement (about 60 days after your retirement date). For example, if you retire July 1, your first two benefits will be deposited the last working day of August. There will be two deposits, one for the first month and one for the second month.
Thereafter, benefit payments will be made on the last working day of each month.
Frequently Asked Questions
How do I get a Retirement Application Packet?
How do I get a Retirement Application Packet if I am vested and do not have a Retirement Coordinator?
What if I don’t have 60 days before my employment ends?
- You may seek to have the Executive Director waive the 60-day notice requirement; or,
- You may, at the time your employment terminates, elect a vested benefit and then give notice to OPERS of your intention to retire.
Can I get an exceptionto the 60-day notice requirement?
Can I postponeor cancel my retirement?
Can I change my retirement benefit option?
The type of benefit payment may not be changed on or after the effective date of retirement. If you have chosen to retire under a retirement option, neither your option nor your joint-annuitant may be changed on or after your retirement date. For those who retire from OPERS under Option A or Option B, they may change their benefit option to the Maximum benefit (no survivor option, no reduction in benefits) upon the death of the member’s selected joint-annuitant.