First Benefit Payment
You will receive your first benefit payment up to 6 weeks after the retirement date indicated on your application. Please plan accordingly.
This timeline assumes:
your application for retirement is in good order
you have provided MSRS with the required documents, and
your employer has remitted all contributions to your retirement plan
Failure to meet these requirements could delay your payment.
Submitting your application early will have no impact on this timeline. The reason for the delay is to ensure that your employer has remitted all contributions to your retirement plan.
The first check includes retirement benefits retroactive to the effective date of your retirement. For example, if your retirement date is July 20 and the first payment is issued early September, the payment will include two months (August & September) and prorated for the month of July.
Subsequent Benefit Payments
Payment is generally made the first business day of the month.
If direct deposit, should be in your bank account that day.
If payment made by check, it will be mailed to you the first business day.