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General Assembly Retirement System

Post-Retirement Information

Retirement Checks

Retirement checks are mailed or directly deposited into your bank account on the last business day of each month. We strongly encourage all payees to participate in direct deposit; however, if you do not have a bank account into which benefits may be automatically deposited, you may receive a paper check each month. If you do not receive your check within five business days, please contact Customer Services. Endorse all checks as drawn. If someone else must endorse your checks, notify the Retirement Systems immediately. It is also very important to notify the Retirement Systems in writing of any change of your home mailing address.

Returning to Covered Employment

If you return to work after retirement, there is no limit on the dollar amount you may earn as compensation; however, certain conditions apply for members who return to work for an employer covered by SCRS, PORS, or JSRS.

  • If you retired within JSRS and return to work under GARS, you may continue to receive your JSRS benefit and contribute to GARS unless you elect non-membership.
  • If you retired within GARS and return to the General Assembly, your monthly benefit from GARS ceases and you become a contributing GARS member unless you elect non-membership in GARS.
  • If you retired within GARS, return to JSRS-covered employment, and are under age 62, your monthly benefit from GARS ceases and you become a contributing JSRS member. You may resume your monthly benefit from GARS at age 62 or upon termination from JSRS-covered employment.
  • If you retired within GARS and return to SCRS- or PORS-covered employment, you must elect non-membership in SCRS or PORS and work as a non-member retiree.

 

Retired Member Incidental Death Benefit

Retirees and inactive members eligible for a deferred monthly benefit at the time of death may qualify for the retired member incidental death benefit. Amounts paid to your beneficiary are considered taxable benefits; therefore, state and federal taxes will be withheld unless your beneficiary rolls over the money into another qualified retirement plan.

The incidental death benefit payment is based on your total service credit and will be paid to your beneficiaries as follows:

Years of GARS Service Credit

Incidental Death Benefit Payment

10 to 19 years

$1,000

20 to 29 years

$2,000

30 or more years

$3,000

 

Additional death benefits may be payable depending on the payment option you select at retirement. Please see Payment Options at Retirement for a detailed explanation of available payment options. 

Cost-of-Living Adjustments

Generally, if the General Assembly approves an increase in earnable compensation for active GARS members, benefits for GARS retirees and beneficiaries will increase by the same percentage on the effective date of the earnable compensation increase.

Beneficiary and Payment Option Changes
Death of a Spousal Beneficiary Under a Joint Survivor Payment Plan

If a retired GARS member designated his spouse as a retirement beneficiary under one of the joint survivor payment options and his spousal beneficiary predeceases him, the retiree may within one year of the spousal beneficiary’s death select a new GARS retirement payment option and beneficiary.

Marital Status Change

If a GARS retiree’s marital status changes due to divorce or marriage, the retiree may select a new retirement benefit payment option and beneficiary. A retiree who has a change in marital status may select a new payment option and beneficiary even if the retiree did not originally select a spouse as beneficiary or did not elect a joint survivor payment option. There is no time limit for new retirement elections due to a change in marital status.

Changes in post retirement payment options may reduce your monthly benefit amount. Estimates for post retirement payment option changes may be received by contacting the Retirement Systems.

Taxes

The taxable portion of your monthly benefit and any incidental death benefit payments to your beneficiary are subject to federal and state income taxes. Check with an accountant or a tax advisor regarding your tax liability.