Current Leaves of Absence
The Teachers’ Retirement Board’s (TRB) policy for purchasing a Current Leave of Absence (CLOA) has changed effective with leaves of absence beginning in the 2012-13 school year. We formerly accepted payment for a CLOA at any time during the leave, up to the last day of the leave. Payment for a CLOA is now required either in advance or in monthly installments during each month of the leave, but may not be made in arrears after the end of the month.
Failure to pay any month’s installment by the last day of that month will result in a change in the member's status from active to inactive and the member becomes ineligible to purchase any of the remaining months of the leave as a CLOA; months already paid for will be credited but the member‘s status will change from an Active to an Inactive member of TRB. An Inactive member is ineligible to purchase any of the remaining months of the leave as a CLOA, but may be eligible to purchase them as a Previous Leave of Absence subject to certain limitations.
We have expanded the payment options for a CLOA to include rollovers from other qualified retirement plans and the use of funds in the voluntary and supplemental accounts.
Please refer to the new Current Leave of Absence Form and instructions on the Forms page of this website, or contact us for further information.
Content Last Modified on 5/15/2013 12:42:34 PM