Monthly retirement payments for TRS retirees are available on the first business day, each month, for retirees who receive their payment by Automated Clearing House (ACH) transfer. An ACH transfer is an electronic bank-to-bank transfer of your monthly benefit from our bank to yours. Also referred to as Direct Deposit or Electronic Funds Transfer (EFT), these are paperless transactions offering a secure means of receiving your payment. You will only receive a paper payment notification when there is a change in your payment amount.
For the very few retirees receiving 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 ACH, as it ensures prompt, and secure, delivery of your monthly benefit.
When the first business day of the month is a holiday, your payment will be available on the second business day. Payments received by check through the US Mail may be delayed for several days when the first business day of the month is a holiday.
Remember, unlike when you were working and receiving a salary, pension payments are paid in “advance”, rather than in “arrears” (at the end of the month), so your payment will arrive at the first of the month, rather than at the end of the month.