TRB: Important Notice of Change Regarding the STRBís Voluntary Account/Annuity Purchase

Important Notice of Change Regarding the STRBís Voluntary Account/Annuity Purchase

 

Effective immediately, the Teachersí Retirement Board is taking the following corrective action with respect to the administration of the Voluntary Account.  

 

Effective February 13, 2019, the STRB will no longer accept funds into the Voluntary Account via direct rollovers or lump sum payments EXCEPT under ALL the following conditions:

  1. The transfer of funds was initiated with an existing vendor in possession of the funds on or before February 13, 2019 and received by the TRB on or before March 15, 2019;
  2. Teacher has filed a retirement application with the TRB on or before February 13, 2019. If the teacher has notified his/her local board of education in writing by February 13, 2019, that he/she will retire on or before August 31, 2019 and has not filed an application for retirement with the TRB, the retirement application must be filed with the TRB on or before February 21, 2019;
  3. Teacher must retire on or before August 31, 2019;
  4. These funds will be used solely for the purchase of the STRBís annuity upon retirement on or before August 31, 2019. 

The STRB will continue to accept funds deducted from your salary by your employer on an after-tax basis into the Voluntary Account subject to limits under federal and state tax laws.

 

Any questions should be directed to trb.webmaster@ct.gov



Content Last Modified on 2/15/2019 2:40:53 PM