Payment of Benefits

If your retirement application is received at least 30 days before your retirement date, we will issue a benefit payment on your retirement date. If final calculations on your earnings or credit are not available as of your retirement date, we will issue a partial payment based on information available at that time. Most retirees receive a partial payment for the first two months of retirement. Once exact information is available, any balance will be retroactive to your effective date of retirement and paid as a clean-up payment, which is the difference paid to you after receiving partial payments and before your regular payments begin.

If your retirement application is not received at least 30 days before your retirement date, there will be a waiting period before we will issue your first partial benefit payment.

Please note that at retirement, approximately:

• 10% of retirees receive a partial payment for their first month of retirement;

• 75% of retirees receive partial payments for their first two months of retirement; and

• 15% of retirees receive partial payments for their first three months of retirement.

All payments will be electronically deposited to your financial institution. Contact STRS Ohio toll-free at 1-888-227-7877 if you have any questions.