COMPENSATION BENEFITS:RETIREMENT PROGRAM

COMPENSATION BENEFITS:
RETIREMENT PROGRAM

DEG (R)

Employees who retire under the Teacher Retirement System of Texas shall follow the procedures outlined below to obtain the maximum benefit:

Arrange with the District's Employee Benefits Specialist for an one to two hour appointment to be held at least four months in advance of date of retirement to receive counsel and assistance with required forms to be sent to the office of the Teacher Retirement System of Texas.

Notify the office of the Teacher Retirement System of Texas well in advance of retirement date. Employees should allow time to select manner of payment of retirment allowance, standard annuity or one of five options, and to secure necessary certified papers such as service record prior to 1937, proof of date of birth and proof of date of birth of beneficiary if, upon the death of the retired member, payments are to be made to the designated beneficiary.

File the Application for Service Retirement with the Teacher Retirement System by the last day of the second calendar month following the month the employee's retirement is effective.

Terminate employment with the District no later than the end of the month of retirement. The only exception is a May retirement, then the employee must terminate employment no later than June 15.

The retirement process should be initiated as early as January of the year that the employee plans to retire.

INSURANCE FOR RETIREES Eligible employees who have accepted reitrement through the Teacher Retirement System after August 31, 2004, will be able to participate in District health and dental plans only through continued coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA). The continued coverage can remain in effect for a maximum period of 18 months. The District shall not make contributions to the premiums of retired employees with the exception of those indicated in "termination of coverage" in the policy.

INSURANCE FOR REHIRED RETIREES
See DEB (R).

ISSUE DATE: 7/21/98
REVISED: 08/ 09/04

COMPENSATION BENEFITS: RETIREMENT PROGRAM		DEG (R)
	Employees who retire under the Teacher Retirement System of Texas shall follow the procedures outlined below to obtain the maximum benefit: Arrange with the District's Employee Benefits Specialist for an one to two hour appointment to be held at least four months in advance of date of retirement to receive counsel and assistance with required forms to be sent to the office of the Teacher Retirement System of Texas. Notify the office of the Teacher Retirement System of Texas well in advance of retirement date. Employees should allow time to select manner of payment of retirment allowance, standard annuity or one of five options, and to secure necessary certified papers such as service record prior to 1937, proof of date of birth and proof of date of birth of beneficiary if, upon the death of the retired member, payments are to be made to the designated beneficiary. File the Application for Service Retirement with the Teacher Retirement System by the last day of the second calendar month following the month the employee's retirement is effective. Terminate employment with the District no later than the end of the month of retirement. The only exception is a May retirement, then the employee must terminate employment no later than June 15. The retirement process should be initiated as early as January of the year that the employee plans to retire.
INSURANCE FOR RETIREES	Eligible employees who have accepted reitrement through the Teacher Retirement System after August 31, 2004, will be able to participate in District health and dental plans only through continued coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA). The continued coverage can remain in effect for a maximum period of 18 months. The District shall not make contributions to the premiums of retired employees with the exception of those indicated in "termination of coverage" in the policy.
INSURANCE FOR REHIRED RETIREES	See DEB (R).