Retirement Planning
AERA and the Alabama Education Association (AEA) have created an informative pre-retirement planning package free upon request. To learn more about planning for retirement, please email your request for this package to info@aerainc.org or call us at 1-800-537-6867.
Steps to Take in Preparing for Retirement
- Upon employment, anticipate your career path and familiarize yourself with the retirement benefits available.
- Periodically, contact the Teachers' Retirement System (TRS) at 1-800-214-2158 and have a counselor assist you with your estimated income in retirement and the current retirement benefits available.
- As you near your retirement years, contact your local Board of Education to confirm the proper channels you will need to take in order to apply for retirement. Ask them for information on pre-retirement counseling offered by a TRS Representative.
- Contact PEEHIP at 1-800-214-2158 to review your current insurance coverage and how retirement will affect it. Ask for detailed information regarding the date you expect to retire and the availability to change your current coverage status should that be needed.
- Apply for retirement by completing a Form 10, Application for Retirement. The Form 10 must be received by the Teachers' Retirement System of Alabama no less than thirty (30) days nor more than ninety (90) days prior to the effective date of your retirement. TRS will send you a Retirement Allowance Estimates Sheet and a Member's Election of Retirement Benefits Form.
- Complete and return the Member's Election of Retirement Benefits Form to the TRS no later than the first of the month in which retirement is to be effective. If the form has not been received by TRS by your retirement date, you will automatically receive the maximum retirement allowance. After this date, you cannot cancel your retirement or change your option election.
- Join AERA and AEA upon retirement.
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