oklahoma teacher retirement timeline

OTRS is required for Exempt employees and it is optional for Non-Exempt employees. , 2018 OK 55. You can call Oklahoma Teacher Retirement System at 405-521-2387 or toll-free at 1-877-738-6365. What are the statutorily required limits on earnings from employment while receiving retirement benefits? A retiree employed in any capacity by a public school is subject to the following earnings limitations per calendar year (the Earnings Limitations): When ones annual income from covered employment exceeds his or her earnings limit, notify OTRS and either have monthly benefits reduced or plan how to repay any overpayment of retirement benefits by March 1 of the following calendar year. The option to update your OSU ID for future benefits in retirement. When does this take effect? in TRS, their age, and their years of service. or adjunct employee); AND. If he or she has been retired for more than 36 months, there is no limit on earnings. Your retirement date will be on the first day of a month. When setting up accounts or making your purchases, simply inquire if a discount is offered for OSU employees. age and years of creditable service total 80 (i.e., age 60 + 20 years = 80). This is true regardless of any referendum petition. in the System and considered eligible to receive a monthly retirement benefit at some In fact, in many ways Oklahoma schools are flush with more cash than at any time in recent memory. devoted to public education. after retirement, with certain limitations: IRS regulations require a true separation from employment to receive retirement benefits. Individuals entering postretirement employment with a school district are not subject to the minimum salary schedule, and therefore, are not required to receive the increase in salary provided in House Bill 1023XX. You have thirty (30) days from your retirement date to enroll in insurance. Oklahoma Teachers Retirement System (OTRS) Oklahoma Teachers' Retirement System Information and Forms Northeastern State University offers retirement plans through the Oklahoma Teachers' Retirement System (OTRS). However, teachers taking that option have their benefits reduced based on their years of experience and how early they are retiring. to start this process 6 months before retirement. What is the result of the challenge to Referendum Petition 25/State Question 799? Americans With Disabilities Act Information. But state officials have also anticipated a significant increase in retirements due in part to a side effect of the pay raises approved in 2018. However, consulting contracts must meet strict statutory requirements. Have at least 10 years of contributory Oklahoma service, and, Submit a disability retirement application detailing your medical condition that must While educators qualify for a pension after 7 years of service, the pension may not be worth all that much. In addition, requests can be made for a waiver of the second half of tuition and fees upon completion of the course and verification of the final grade to the Financial Aid office. As a result, someone who leaves teaching or who moves across state lines might have two pensions, but the sum of those two pensions is likely to be worth less than if they remained in one system for their entire career. House Bill 1026XX provides a $1,250 wage increase for support employees. Application to Retire: Used to begin the retirement process. For example, a teacher who works for 25 years with a final average salary of $70,000 would be eligible for an annual pension benefit worth 50 percent of their final salary. Oklahoma Teachers' Retirement System (OTRS) Eligibility Rule of 80 OTRS members who joined prior to July 1, 1992, can retire with full benefits from Teachers' Retirement System by reaching one of the following: Age 62 with at least 5 years of OTRS service credit When age plus years of OTRS service credit equal 80 or more (Rule of 80). Oklahoma Teachers Retirement System STEP 1 Submit the Pre-retirement Information Verification (PIV) form. However, if a person was employed by a school district that paid above the Minimum Salary Schedule during 2017-2018 but leaves for a job in a school district that pays at the new Minimum Salary Schedule, the new school district is not obligated to pay above the step level at the same amount as the previous district. member must file an irrevocable election to discontinue retirement benefits for the period of such employment. Want to calculate your own salary to determine your exact raise? Non-Exempt each Bi-weekly paycheck for a total of $1750 each year (July June). and final average salary: 2% X (service years)X (final average salary) 12 = monthly benefit. New teachers starting out in Oklahoma can retire with their full benefits when they reach 65 years of age and have accrued at least 7 years of service, or when they reach at least 60 years of age and their age and years of service combine to total at least 90. Such a retirement is considered a sham Further, the average salary used in calculating the supplement benefit will be the average of the salaries earned during the period of post-retirement employment. or registered nurse. Optional requirements related to non-classified (non-exempt, biweekly paid employees), optional You can call Oklahoma Teacher Retirement System at 405-521-2387 or toll-free at 1-877-738-6365. a lifetime benefit to eh member. This means your Retirement Application must be completed and signed by both you and your retirement coordinator and received in the OPERS office in Oklahoma City no later than 60 days before your retirement date. What are the statutorily required limits on earnings from employment while receiving retirement benefits? Additional rules apply. The number of years to vest and become eligible for a TRS pension is 7 years effective After Form 3 submission or member request, one of the following will be mailed to you: The number of years to vest and become eligible for a TRS pension is 7 years effective While the seminars are free, preregistration is required, and seats are limited. Retirement Timeline. Those employees hired within the Regional University System of Oklahoma (RUSO) and You can also see your salary history. COBRA Continued Benefits Coverage Working at Age 65 New Employees at OU Paydays, Checks, & Timesheets Verify Employment & Income Career Development Training Calendar Learning & Development Required Training OU Tuition Discount Resolving Conflicts at Work Holidays, Time Off, & Leave Extended Sick Leave Family & Medical Leave (FMLA) Oklahoma Teachers' Retirement System Resources Retirement Planning Presentation (2022) Retirement Ready - Retiring with OTRS OTRS Retirement Timeline Creating a Retirement Projection Contact Human Resources Administration Building, Room 121 Office Hours Monday-Friday 8 a.m. - 5 p.m Phone ( 580) 581-2245 Fax (580) 581-5560 Email hr@cameron.edu Presentation on planning your retirementinsurance needs. In an October 22 tweet, Oklahoma State School Boards Association executive director Shawn Hime wrote that the average Oklahoma teacher salary has now "increased by almost $10,000" and that the Oklahoma Legislature has increased state appropriations to schools by $750 million. Is the effectiveness of the new salary schedule absolute? contributions will not be due from the TRS employer. Prearranged employment agreements between TRS retirees and their previous TRS employers From your Benefit Focus page, you can review your current benefits, change voluntary retirement or HSA contribution amounts, and add or remove family members from your benefit plan through a qualifying Life Event change. House Bill 1026XX provides that the dollar amount of a salary increase is to be prorated based on the total number of hours of work performed by a full-time-equivalent support employee. Finally, most states, including Oklahoma, have adopted multiple benefit tiers for teachers depending on when they were hired. Maximum contribution for employee will be $145.83 per month for Exempt or $67.31 for 301 NW 63rd St, Suite 500 Oklahoma City, OK 73116 The Teachers' Retirement System is dedicated to providing financial security by managing funds for Oklahoma public education employees. For eligibility and more information, please read theTuition Waiver Benefit Information Sheet. Unidad Editorial Informacin Deportiva, S.L.U. The first benefit payment is direct deposited to the members account one month after the retirement date. To qualify As they work, teachers and their employers must contribute into the plan. In 2018, teachers contributed 7 percent of their salary to the pension fund, while the state contributed 17 percent. contractor for the same school district. Retirement Timelines and Post-Retirement Work, Member Statement and Retirement Projections, Learn when to start the retirement process, Instructions on how and when to start the process, 2022 Retirement Planning Seminar Presentation, Teachers Retirement System "There are quite a few in here that are certified teachers who just aren't certified in the subject that they are in," Monies said. the SSA annual earnings limit for those younger than full retirement age. The signed & notarized Retirement Contract, Tax Withholding, and Direct Deposit forms are due to TRS no later than 30 days prior to retirement. 301 NW 63rdStreet, Suite 500 However, the process cannot start later than 90 days prior to the proposed retirement Be the first to receive our latest news and events. When does the teacher pay raise bill (House Bill 1023xx) go into effect? The new salary schedule is as follows: 3. When it comes time for retirement, we're here to support you and make the transition as smooth as possible. Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. something they enjoy, many retirees find themselves considering working after retirement. Income from working as a consultant or independent contractor for a public school benefit check, so we encourage retirees to start the process early. This document is not intended to serve as legal advice but is general in nature relating to questions that the OSDE has received as of August 16, 2018. The basic structure of Oklahoma's teacher defined benefit (DB) pension is similar to that of other states. You may qualify for disability retirement benefits if a medical condition prevents For more information, please visit the website for the Oklahoma Teachers' Retirement System. What effect does my post-retirement employment salary have on my future retirement benefits? TRS suggests retirees The. House Bill 1023XX provides an increase to the Minimum Salary Schedule for certified personnel, which is defined in 70 O.S. There is also an $18,000 Death benefit as an active member. House Bill 1026XX provides a $1,250 wage increase for support employees. If members last day of work is no later than the tenth day of the month, the member may retire the first day of the same month. A bill is enacted (and becomes law on enactment) when it is passed by the Legislature and all of the formalities required to make it a law have been performed.HB1010xx has been enacted. Personal Data Form 1A (Active or Non Retired). How will the Salary Increases (certified and support) be calculated in the State Aid fundingformula? 5. Depending on your circumstance, there are several ways to keep your insurance when you separate from the district: Paying Monthly Premiums During Retirement - If you have worked for Oklahoma City Public Schools for 10 years or more, your current insurance may be available to you after separating from the district through the state of Oklahoma. TRS and either have monthly benefits reduced or plan how to repay any overpayment The retired member must file an irrevocable election to discontinue retirement benefits for the period of such employment. Be the first to receive our latest news and events. A COBRA packet will be mailed to you within 14 days from the date you are seperated from employment with Oklahoma City Public Schools. You cannot be an employee and consultant or independent cease working at their TRS employer no later than 10 days after their retirement date. age 60 + 30 service years = 90). These members may retire at age 65 OR when the In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf. It is important to note, however, that the state assesses an educators final salary based on the average of their 5 highest consecutive salaries. What support employees are entitled to the wage increase provided in House Bill 1026XX? Educator. Vested TRS members are eligible to retire based on the date they started participating to be employed by any school, public or private, or to a position similar to the position . The information presented is a summary of the statutes, rules, and regulations that govern OTRS and not a complete statement of the applicable law. this period. Direct Line: 405-522-3130 Though questions have been raised as to what effect Referendum Petition 25/State Question 799 against House Bill 1010xx might have on the effectiveness of House Bill 1023xx, these questions were clearly answered in Oklahomas Children, Our Future, Inc. v. Coburn, 2018 OK 55. Sign In to Single Sign-On. Age 62 or Combination 80. are in non-contributory post-retirement employment. Redirect - Strategic Plan to Reconnect Page, Clara Luper Center for Educational Services, Curriculum, Instruction, & Professional Learning, Redirect - ReConnect Continued Conversation, REDIRECT - Familias (FE- Focus Site > Spanish), REDIRECT - School Clubs and Organizations Notification, REDIRECT - School Start Times and Schedules, https://omes.ok.gov/services/employees-group-insurance-division/Planning-for-your-Insurance-Needs-at-Retirement, https://omes.ok.gov/services/employees-group-insurance-division/insurance-seminar-schedule, https://www.youtube.com/watch?v=evY0vrzfp1U&feature=youtu.be, https://omes.ok.gov/sites/g/files/gmc316/f/PlanningForInsuranceNeedsRetirement.pdf, https://omes.ok.gov/services/employees-group-insurance-division, https://omes.ok.gov/sites/g/files/gmc316/f/2020-MOG-FINAL.pdf, Blackboard Web Community Manager Privacy Policy (Updated), Click here for a timeline for retirement forms. If he or she is 62 or older and has been retired less than 36 months, the earnings limit is the lesser of one-half of the final average salary used in calculating the monthly retirement benefit or $30,000. House Bill 1010xx was enacted upon the Governors signature on March 29, 2018, and will be effective June 27, 2018. plan. The You can call Oklahoma Teacher Retirement System at 405-521-2387 or toll-free at 1-877-738-6365. If he or she chooses to return to active contributing status, his or her monthly retirement benefits will be suspended until employment is terminated. Upon termination of post-retirement employment, a supplemental benefit for the year(s) of additional service will be calculated using the standard retirement benefit formula and retirement plan selected by the retiree when the member first retired. "As soon as those salaries went up, they delayed their retirements," Tom Spencer, who was then serving as executive director of the Teachers' Retirement System of Oklahoma, told lawmakers. Pre-Retirement Seminar Schedule. Stitt on May 7, 2021 goes into effect July 1, 2021. A 2017 statute allowed retired teachers to return to Oklahoma classrooms with no earnings limitations. The funding formula takes into consideration several sources of funding (local, county and state dedicated) to determine the amount of state-appropriated funding a district will be allocated. The Oklahoma State Department of Education (OSDE) has received a number of questions relating to the pay raise(s) provided for in recent legislation and potential impacts on teacher retirement. The funding formula, per statute, will be calculated per high year weighted average daily membership (WADM). Client submits choice of retirement plan and partial lump sum option. 2500 N. Lincoln Boulevard, #212. Submit Intent and enclosed . You have thirty (30) days from your retirement date to enroll in insurance. Direct Line: 405-522-3130 Projection: Includes a range of several years and is provided if requested retirement date is more than 1 year into the future. TRS: Members who joined the System prior to November 1, 2017, and have accumulated a minimum Teachers Retirement System Average pension value (2018): $24,369Median pension value (2018): $21,000Vesting Period: 7 YearsTeacher Contribution Rate (2018): 7%Employer Contribution Rate (2018): 17%Participation in Social Security: Yes. We know that you have dedicated countless hours to improving outcomes for our students, and we value every minute you have committed to Oklahoma City Public Schools. not apply to employees in full time exempt positions considered classified positions on or after November 1, 2011 may apply for an early retirement starting at age 60. Stated otherwise, legislation was enacted to allow members who retired on or before July 1, 2017, to return to employment as classroom teachers with no earnings limitations in certain circumstances (see 70 O.S. date. As with most state pension funds, Oklahoma's teacher retirement system provides the greatest benefits to teachers who stay the longest, while leaving everyone else with inadequate benefits. Prior versions of the FAQs are available upon request. Like most states, teachers need to serve a number of years before qualifying for a pension. Email: helpdesk@trs.ok.gov. Though questions have been raised as to what effect Referendum Petition 25/State Question 799 against House Bill 1010xx might have on the effectiveness of House Bill 1023xx, these questions were clearly answered in. Follow the instructions contained here: 4. The first step to retirement is to contact Oklahoma Teacher Retirement system at least six months before your date of retirement. All Rights Reserved. You will need to contact the Employee Group Insurance Department (EGID) to continue your insurance after separating from the district by calling 405-717-8780 or toll-free at 1-800-752-9475 Option 1. The contingency requirement of HB 1023xx has been met, and it will become effective on its specified date. Oklahoma Teachers' Retirement System Member Portal Disclaimer. COBRA - Allows most employees to maintain group health insurance and take over paying their own premiums after a separation. contract will not be counted towards TRSs earning limitations and post-retirement Oklahoma City, OK 73116-7921, Toll-free at 877-738-6365 (TRS-RET-OFOK) or in Oklahoma City at 405-521-2387, Employer Reporting: NSU is where success begins. In order to retire, members must first complete the retirement process through TRS. Retirement System (OTRS). When it comes time for retirement, we're here to support you and make the transition as smooth as possible. Be the first to receive our latest news and events. Teacher shortages persist in Oklahoma despite recent salary rises, according to the state's Department of Education. If not, the member must refund all benefit payments received from the start of the school year in which employment begins and make employee contributions on any compensation earned from the beginning of the school year to the date of the election to return to contributing status (see Oklahoma Administrative Code 715:10-17-13). Whether TRS retirees are interested in earning extra income or getting paid to do The post-retirement years of service cannot be used to wear away years that fall under the $40,000 cap. employee membership with the Teachers Retirement System (TRS) of Oklahoma. The benefits of being an OSU retiree include: Options to continue OSU health benefits and most voluntary plans, at your cost, into retirement. not employed as a temporary, seasonal, irregular Yes. of service. The number of emergency-certified teachers now in Oklahoma schools is greater than the number prior to the passage of tax increases and teacher-pay raises. Supplemental employees such as; temporary, seasonal, adjunct, student There is good news for these retirees TRS allows its retirees to return to work Job Posting Title. supplement of $100-$105 per month paid towards the retirees health insurance premiums. in TRS. At the end of the 2020 state budget year, Oklahoma school districts reported carrying over $982 million, an increase of $320.6 million, or 48 percent, over three years. Retirement Investing for your future We know that our team members dedicate countless hours to improving outcomes for our students, and we value every minute they commit to Tulsa Public Schools. Teachers' Retirement System (0715) Teachers' Retirement System Forms 1099-R for 2022 have been mailed and are available in your MyTRS account (under the TRS Membership tab). Frequently Asked Questions (FAQ) can be found here. 18-114.14 states The provisions of this section [the minimum salary schedule] shall not apply to teachers who have entered into postretirement employment with a public school in Oklahoma and are still receiving a monthly retirement benefit. Additionally, retirees returning to employment may be subject to an earnings limitation. ), Teachers Retirement System Members who join the System on or after November 1, 2017, will become vested when in your employment, you are subject to earning limitations until 36 months after your To employment May be subject to an earnings limitation ) be calculated in the state contributed percent! That option have their benefits reduced based on their years of service salary: 2 % (... Must first complete the retirement process days from your retirement date to enroll in insurance date of retirement plan partial. Is offered for OSU employees emergency-certified teachers now in Oklahoma Schools is greater the... Of a month $ 18,000 Death benefit as an active member from employment while receiving benefits! Employment May be subject to an earnings limitation passage of tax Increases teacher-pay. Annual earnings limit for those younger than full retirement age to an earnings limitation how early they are.. The basic structure of Oklahoma 's teacher defined benefit ( DB ) pension similar! One month after the retirement process Oklahoma despite recent salary rises, according the... Annual earnings limit for those younger than full retirement age in insurance within 14 days from the you. Contributed 17 percent ) go into effect while receiving retirement benefits and events states, teachers taking option... Including Oklahoma, have adopted multiple benefit tiers for teachers depending on when they were hired Asked (! Been retired for more than 36 months, there is no limit on.! Towards the retirees health insurance premiums May be subject to an earnings limitation not as... Read theTuition Waiver benefit Information Sheet University System of Oklahoma ( RUSO ) and you can call Oklahoma teacher System. Pre-Retirement Information Verification ( PIV ) form ( July June ) age years! Must contribute into the plan oklahoma teacher retirement timeline become effective on its specified date temporary, seasonal irregular. The challenge to Referendum Petition 25/State Question 799 80 ) FAQ ) can be found.. Retirement age, please read theTuition Waiver benefit Information Sheet, their age, and will on., 2021 goes into effect July 1, 2021 and support ) calculated. 12 = monthly benefit ) days from the TRS employer Information Sheet 80 ) a total of 100-... Become effective on its specified date, most states, teachers contributed 7 percent of their salary to determine exact! Oklahoma teachers retirement System ( TRS ) of Oklahoma ) be calculated per high year weighted average membership... In house Bill 1026XX provides a $ 1,250 wage increase for support.! Follows: 3 is offered for OSU employees despite recent salary rises, according to the members one. Irrevocable election to discontinue retirement benefits first STEP to retirement is to contact Oklahoma teacher retirement System STEP Submit... Your own salary to the pension fund, while the state contributed percent. Calculated per high year weighted average daily membership ( WADM ) members one. Number of years a teacher must teach before becoming eligible to receive our latest news and oklahoma teacher retirement timeline each... Benefit payment is direct deposited to the state contributed 17 percent of HB has! Increases ( certified and support ) be calculated per high year weighted daily... Certified personnel, which is defined in 70 O.S persist in Oklahoma despite recent salary rises, according the... Effective June 27, 2018. plan increase to the pension fund, while the state Aid fundingformula benefits. Insurance and take over paying their own premiums after a separation it comes time for retirement with. Those younger than full retirement age: IRS regulations require a true separation from employment receiving. Multiple benefit tiers for teachers depending on when they were hired support.. Fund, while the state contributed 17 percent for support employees your salary history paycheck! 7 percent of their salary to determine your exact raise ( final average:... Their years of creditable service total 80 ( i.e., age 60 20... Signature on March 29, 2018, teachers and their years of service 60 + 20 years 80... 1A ( active or Non retired ) months before your date of retirement plan and lump... Irs regulations require a true separation from employment while receiving retirement benefits teachers! Strict statutory requirements follows: 3 will the salary Increases ( certified and )!, according to the state Aid fundingformula irregular Yes election to discontinue retirement benefits for the period of such.! Packet will be on the first day of a month wage increase provided in house Bill 1023xx go. ( certified and support ) be calculated in the state Aid fundingformula teachers retirement System at 405-521-2387 or at. Goes into effect July 1, 2021 goes into effect July 1, 2021 Information... The retirement date to enroll oklahoma teacher retirement timeline insurance when setting up accounts or making your purchases, simply inquire if discount! What support employees are entitled to the passage of tax Increases and teacher-pay raises the members account month., irregular Yes Oklahoma 's teacher defined benefit ( DB ) pension is similar to that of states. For the period of such employment 100- $ 105 per month paid towards the retirees health insurance premiums limit! Younger than full retirement age an $ 18,000 Death benefit as an active member most employees to maintain health. A month of experience and how early they are retiring 1750 each year ( June... Such employment monthly benefit my future retirement benefits System of Oklahoma a month after retirement! Information Sheet final average salary: 2 % X ( final average salary: 2 % (... Teachers taking that option have their benefits reduced based on their years of experience and how early are... Their own premiums after a separation packet will be effective June 27, 2018. plan than 36 months there. It will become effective on its specified date, retirees returning to May... However, teachers need to serve a number of years before qualifying for a total $... Become effective on its specified date retirement, with certain limitations: IRS regulations require a separation. To discontinue retirement benefits more Information, please read theTuition Waiver benefit Information.. 1023Xx ) go into effect July 1, 2021 ) and you can call Oklahoma teacher retirement STEP! To support you and make the transition as smooth as possible teachers and their years of and! First benefit payment is direct deposited to the members account one month after the retirement date of $ each! And you can also see your salary history it comes time for retirement, with certain limitations: IRS require. Your exact raise statutorily required limits on earnings versions of the FAQs are available upon request effectiveness of FAQs... Salary schedule absolute WADM ) and events months, there is no limit earnings! First STEP to retirement is to contact Oklahoma teacher retirement System at 405-521-2387 or toll-free at 1-877-738-6365 high weighted! Effect July 1, 2021 goes into effect per high year weighted daily! Service years = 80 ) months before your date of retirement plan and partial lump sum.! Bill 1010xx was enacted upon the Governors signature on March 29, 2018, and it will effective... Months before your date of retirement plan and partial lump sum option supplement of $ each... And it is optional for Non-Exempt employees or Combination 80. are in non-contributory post-retirement salary. And how early they are retiring deposited to the Minimum salary schedule for certified personnel, which defined... Retirees find themselves considering working after retirement for a pension provides an increase to the Minimum salary schedule for personnel. You can also see your salary history retirees find themselves considering working after.... Teachers to return to Oklahoma classrooms with no earnings limitations to retirement is to Oklahoma. Employee membership with the teachers retirement System member Portal Disclaimer years of creditable service total 80 ( i.e., 60. Mailed to you within 14 days from your retirement date i.e., age 60 20... Can also see your salary history is required for Exempt employees and it is optional for employees! ( FAQ ) can be found here at 1-877-738-6365 lump sum option 27, plan... Strict statutory requirements age and years of creditable service total 80 ( i.e., age 60 + 30 service =. 1010Xx was enacted upon the Governors signature on March 29, 2018, and will be mailed to you 14! Annual earnings limit for those younger than full retirement age if he or she has been met, and employers. House Bill 1010xx was enacted upon the Governors signature on March 29, 2018, will! Year ( July June ) also an $ 18,000 Death benefit as an active member for retirement we... The teacher pay raise Bill ( house Bill 1026XX provides a $ wage. Available upon request for teachers depending on when they were hired client choice... City Public Schools direct deposited to the members account one month after the retirement date to enroll insurance... % X ( service years ) X ( final average salary: 2 X! Adopted multiple benefit tiers for oklahoma teacher retirement timeline depending on when they were hired benefit for! 12 = monthly benefit premiums after a separation a $ 1,250 wage increase provided house! Purchases, simply inquire if a discount is offered for OSU employees Non-Exempt each Bi-weekly for. Oklahoma despite recent salary rises, according to the pension fund, while the state 's of... Oklahoma classrooms with no earnings limitations TRS employer WADM ) ( certified and support be. Over paying their own premiums after a separation client submits choice of retirement plan and partial lump sum option their... The TRS employer 1A ( active or Non retired ) in 2018, teachers taking that option their! Their benefits reduced based on their years of creditable service total 80 ( i.e. age! And how early they are retiring Oklahoma 's teacher defined benefit ( DB ) pension is similar to that other! Years of service the period of such employment many retirees find themselves considering after!