Section 15: The Retirement Report

Introduction | Completing the Retirement Report | Table of Contents

Introduction

The Retirement System requires specific information from employers when members file for retirement. The information is needed so we can accurately and efficiently calculate the member's pension and begin providing the retiree with a monthly allowance.

When an application for retirement is received from an employee of a school district, SUNY, Education Department, community college, the School for the Deaf or the School for the Blind, a Retirement Report (QTR-78) form will be sent to the employer. If the member has not recently been employed at your location, you may be sent a Statement of Salary Data (QTR-78.1) form in lieu of the previously mentioned document.

Regardless of employer, the information being requested is vital in order for the retiree to receive her/his full benefit. This information, as well as your monthly employer report, will be used to calculate the member's retirement allowance.

Completing the Retirement Report

The Retirement Report is a single page document that you should complete and return by mail or fax to (518) 447-2979. This form has been designed to simplify the review and completion process. The Retirement Report should be typed or completed in ink as follows.

Last Day Salary Was Earned: This is usually the last day of a contractual obligation and not necessarily the date of the member's final paycheck.

• Full-Time Employees: Enter last day of the full-time obligation.
• Part-Time Employees: Enter the last day service was rendered prior to the date of retirement.

Title: Required for 11- and 12-month employees only. If the retiree has separate agreements with the district, a copy of these agreements should be forwarded for the last five full school years worked in your district.

Compensation for Other Than Regular Duties: The columns represent the final five school years. Indicate the total paid in the appropriate box and indicate "-0-" or "none" in all other boxes.

• Unused Leave: List any payment received in exchange for unused sick, vacation, personal, compensatory, or any other leaves.  If the District paid more than one type of leave in a single school year, separate and label each payment.
• Retirement Incentive: List any payment made in anticipation of retirement other than for unused leaves.  Your teachers' and administrators' agreements may refer to these payments as termination, separation or severance pay, incentives, increments or stipends.  A retirement incentive may be paid in a lump sum or in periodic payments.
• Non-Regular Compensation: List payments for superior attendance, the waiver of health insurance, or any other one-time only increment that will not become part of the salary base.  In addition, list the taxable value reportable to the Internal Revenue Service for fringe benefits such as employer-provided life insurance policies or automobiles.    
  Note: Do not list salary for teaching assignments such as summer school, adult education, tutoring, coaching, chaperoning, curriculum development or extra-curricular activities.
• Were payments reported on your monthly reports? The only reason you would check "no" is when payments were made through accounts payable and they could not be included in your monthly reporting system.  All payments made to members of the Retirement System are reportable when paid.  The coding formatted for the payments will determine if the district will be billed. If you need assistance with the coding of payments made by your district, please call (800) 356-3128, Ext. 2855.

Payments Made on or After Effective Date of Retirement: Please report all payments made on or after the retirement date shown.  Identify these payments regarding categories (i.e., salary, retirement incentive, post retirement, etc.) providing the date payment was made and if the payment was salary earned prior to the retirement date.

Signature: The signature of the superintendent, the college president, or a designee must appear on the Retirement Report. If you have more than one report, please sign the final page only.

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