Planning to Retire Soon?
Things You Should Know

If you are planning to retire at the end of the school year, you must call the Retirement Office (816 472-5800) to set up an appointment for your retirement conference.

Things to bring to the conference:

Member’s birth certificate
Beneficiary’s name, address, telephone number, date of birth, place of birth and Social Security number
If you choose option 1 or #2, you must bring a copy of your beneficiary’s birth certificate.
A voided check to set-up your electronic payments

Things to be discussed:

Complete the application and select an option

Options to receive benefits

Basic benefit - benefit for life
Option # 1 - 100% joint survivor benefit
Option # 2 - 50% joint survivor benefit
Option # 3 - Increased basic benefit with no payment to a beneficiary
Federal and state tax withholding

Applications for retirement must be filed with the Retirement Office at least 30 days but no more than 90 days prior to your retirement date. If you are retiring July 1, 2006, you should schedule your appointment between April 1, 2006 and May 31, 2006. If you are retiring September 1, 2006, you should schedule your appointment between June 1, 2006 and July 31, 2006.

Explanation of Benefits

Basic Benefit - benefit payments for the remainder of your life.

Option 1 — 100% joint survivor benefit = upon your death, your beneficiary will continue to receive the same monthly benefit for the remainder of his/her life.

Option 2 — 50% joint survivor benefit = upon your death, your beneficiary will continue
to receive ½ of the monthly benefit amount you received for the remainder
of his/her life.

Option 3 — You receive an actuarially increased monthly benefit for the remainder of
your life, however, if upon your death you have not received all of your employee contributions back as a monthly benefit you forfeit the remainder of your employee contribution to the general fund.

Public School Retirement System of Kansas City, Mo