STRS Ohio Issues “Partial” Benefit Payments
If your fully completed application is received by STRS Ohio at least 30 days before your retirement date, we may issue a benefit payment on your retirement date. If the actual benefit amount is not calculated by your retirement date and you are eligible for a benefit without additional purchased service credit, we may issue a “partial” payment based on current information available on your account. If a Partial Lump-Sum Option Plan (PLOP) payment is selected, payment will be calculated on your retirement amount after adjusting for the PLOP payment. Once exact information is available, any balance will be retroactive to your effective date of retirement and paid as a catch-up payment, which is the difference paid to you after receiving partial payments and before your regular payments begin. Benefits are automatically deposited to your bank account on the first banking day of each month. Most members receive three or more partial payments.
If your fully completed application is not received at least 30 days before the retirement date, your partial payment will begin the first of the second month following receipt of your retirement application.
No partial payments or regular payments will be made if:
- STRS Ohio is waiting for clarification of a court order that requires a member to provide a continuing benefit to a former spouse after the member’s death.
- STRS Ohio is unable to determine service retirement eligibility before we have received information from your employer.
- You need to purchase service credit to attain service retirement eligibility.
The defined benefit portion of your benefit is final on the 15th of the month of the first regular benefit payment. The defined contribution portion is final on the retirement date.
If you are eligible and enroll in the STRS Ohio Health Care Program, you have 31 days to request enrollment from the latter of: your retirement date for the defined benefit portion or the first of the month following receipt of your retirement application. Coverage will begin on your retirement date or the first of the month following receipt of your retirement application whichever is later.