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Medical College of Georgia |
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THE MEDICAL COLLEGE OF GEORGIA ADMINISTRATIVE PROCEDURES Office of Primary Responsibility - Human Resources - Benefits Subject: Teacher's Retirement Termination
1.0 Purpose: To present the procedures for the payout or rollover of Teacher’s Retirement when an employee terminates.
2.0 Note: When work commitment is .5 or greater and is in a permanent position, enrollment in Teacher's Retirement is required and termination in the system can occur only if employment is terminated or work commitment is less than .5.
3.0 Procedure: Termination/Payout of Teacher’s Retirement 3.1 Responsibility: Employee 3.1.1 Employment is terminated. 3.1.2 Completes Application for Withdrawal Form TRS13. Fills out section with their Name, Address, City, State, Zip and Social Security Number. 3.1.3 Elects one of the following options on the application for their teacher’s retirement: Direct rollover of funds OR Payout of funds to employee. 3.2 Responsibility: Benefits Office 3.2.1 Attaches to Withdrawal Form TRS13 a photocopy of employee's official identification that shows the date of birth. (Note: Acceptable forms of identification would be driver's license, certified birth certificate, passport, immigration papers, or state ID issued in lieu of a driver's license). 3.2.2 Writes in the space provided (TO BE COMPLETED BY LAST EMPLOYER SECTION) the institution’s system number and the last month and year in which TRS contribution will be reported for this employee. (Note: This may or may not coincide with the employee's termination date). 3.2.3 Completes the certification portion of Withdrawal Form TRS13. 3.2.4 Makes three copies of Withdrawal Form TRS13: one for employee's file, one for Benefits' records, and one is given to the employee for their records if the termination date is in the system and can be recorded on the form. 3.2.5 Gives the employee the original form to mail to TRS. If the employee is not present, Benefits mails the application form to TRSGA. (Note: Address is Two Northside 75, Suite 400, Atlanta, GA 30318). 3.3 Responsibility: Employment 3.3.1 Processes the termination in PeopleSoft.
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