How do I Receive My Monthly Benefit Payment?
Monthly retirement payments for TRS retirees are available on the first business day, each month, for retirees who receive their payment by Electronic Funds Transfer (EFT), sometimes referred to as direct deposit. EFT transactions with TRS are paperless. You will only receive a paper payment notification in the mail when there is a change in your monthly payment.The EFT benefit payment dates for 2013 are as follows:
If you still receive your monthly payment via check, the check should arrive via US Mail by the 5th business day of each month. Receiving your payment via US Mail can subject delivery of your check to delays which are not within TRS's control. TRS encourages all retirees to use EFT, as it ensures prompt, and secure, delivery of your monthly benefit.
In 2014, there are 6 months in which the 1st either falls on a weekend or a holiday, so you may not receive your check in a timely manner. For example, in February 2014, the 1st falls on a Saturday. TRS will mail your check January 31st, but because of the weekend, you may not receive your benefit payment via the USPS for up to 7 days. If you sign up for EFT, you don’t have to guess when your check will be delivered because you know that your money will definitely be in your account on the 1st business day of each month.
To sign up for EFT, please log on to your TRS account, or you may download a form from the Forms page by clicking here.