Some of the most important financial decisions members will make in their lifetime are deciding when to retire and choosing their pension benefit options. By educating themselves on the retirement process, members are already taking an important step toward planning their retirement.

Follow the timeline listed below and members can find that retiring is not only exciting, but it can be easy too.

Several years prior to retirement:

  1. Members should define their goals. What do they want to do during their retirement - travel, spend time with family, move somewhere they have always wanted to live? Whether they are fast approaching retirement or just starting out as a cadet, skillful planning can help members make the most of their retirement assets.
  2. Members should visit with a private financial planner to discuss their financial goals and needs and determine the best strategies to help meet those needs. This can help members get a good idea of how much income they will need to live comfortably in retirement and what steps are necessary to reach their goals.
  3. Read the Employee Benefits Guide, attend a Retirement Education Seminar or watch the virtual version on the APRS website to learn more about the plan.

Two years prior to retirement:

  1. If the member has not done so yet, this is the time they need to seriously look at their future financial income. Things to consider are the member's spouse's retirement benefits, their Social Security income, savings and investments, and any other possible income they may have such as from future work they may have after retirement from the APD.
  2. Contact the System to obtain retirement benefit calculations, look at all of the different annuity options the System has to offer, purchase any service credit the member may be eligible for before their last day of APD employment, and ask any questions they may have regarding the retirement process.

30-90 days prior to retirement:

Contact the System to obtain retirement paperwork. You will need to provide the System with copies of:

  • Marriage Certificate (if applicable)
  • Social Security Cards for Retiree (and survivor if applicable)
  • Photo Identification for Retiree (and survivor if applicable)
  • Bank Document for Direct Deposit
  • Qualified Domestic Relations Order for Divorce (if applicable)

Contact the City of Austin Benefits Division at (512) 974-3284 to enroll in health, vision or dental insurance coverage.

Contact APD HR at (512) 974-5001 to determine next steps with the department.

Contact the Deferred Compensation administrator to determine if any additional steps are needed to finalize your 457 account.