What you need to know
Your TRA pension is a key part of your retirement picture. Start planning now with help from TRA. Attend a group information session for an overview of TRA’s benefit plans and options. For a more focused discussion, schedule a one-on-one appointment with a TRA counselor. We will review your personalized benefit estimate and help you build a confident path toward your retirement goals.
Retirement eligibility
If you are age 55 or older and vested in our retirement system, you are eligible to apply for a retirement benefit — but benefits may be reduced for those retiring before their normal retirement age.
- Normal retirement age for Tier I members (hired before July 1, 1989) is age 65.
- Normal retirement age for Tier II members (hired after June 30, 1989) who terminated service on or before May 24, 2023 is 66.
- Normal retirement age for all active and eligible deferred Tier II members is 65.
If you are deferring retirement
If you are vested and terminate service with a TRA-covered employer, you can defer the payment of your annuity until you turn the minimum retirement age of 55 or any age thereafter. If you terminated service before July 1, 2019, your deferred retirement annuity is eligible for augmentation through June 30, 2019. Augmentation on deferred annuities was discontinued after June 30, 2019. If you were employed in a TRA position but have not yet applied for a benefit or a refund of contributions, contact TRA.
Resuming employment in a position covered by TRA or another Minnesota public retirement system while deferring your retirement eliminates your eligibility for augmentation. If you are currently deferring your benefit payments and considering a return to public employment, contact TRA to discuss the potential impact on your retirement benefit.
When to apply for your TRA pension
Retirement applications may be submitted up to 180 days (approximately six months) before you terminate your TRA-eligible employment. If you are currently working or on a leave of absence and are eligible for benefits, you can apply up to 180 days before your termination date.
If you are working and have a target date in mind that is within six months of your termination date — such as your birthday or the date you reach an early retirement milestone like being age 60 with 30 years of service — you may use that date on TRA’s retirement date designation form. Otherwise, your benefit will be effective the day after your termination date.
If you have not worked in a TRA-eligible position in the past six months (deferred your benefit), your benefit effective date will be the day we receive your retirement application.
Date of retirement
The effective date of retirement is the official date your annuity begins to accrue. To establish this date, a retirement application must be on file with TRA.
Your effective date of retirement is the latest of the following:
- Day following termination: The day immediately following your last day of employment.
- Administrator rule: July 1 for all school principals and other administrators who receive a full annual contract salary for performing a full year of contract duties.
- Member-specified date: A later date you choose, provided it occurs within the six-month period immediately following your last day of employment.
- Six-month filing rule: The date TRA receives your application, if it is filed more than six months after your last day of employment.
Important note on survivor benefits
Your selected retirement plan only takes effect on your official date of retirement. If you die before that date, preretirement death benefits are payable to your beneficiaries or survivors instead of the specific annuity benefit option (such as a 50%, 75%, or 100% survivorship plan) selected on your retirement application.
Retirement milestones
You must submit a retirement application to TRA in order to collect your pension. You may submit your retirement application up to 180 days before your last day of employment.
Submit your application:
- Online in your myTRA portal (preferred method)
- By mail using a paper application
- In person during either a group workshop or a one-on-one counseling session
We recommend you apply three-to-four months prior to your last day of employment due to the time it takes to process a retirement application.
TRA will send an application confirmation letter approximately four-to-six weeks after we receive your application. The letter will outline outstanding items or missing information we need to process your application.
Your last day of employment is the last day of service for which you earned salary. The date you receive payment is not considered; it is always the last day worked.
Your benefit effective date is the date on which a retirement annuity is first payable after applying for the retirement annuity or retirement benefit.
You will receive a confirmation letter within about a week of your first payment. It will show your gross pay, taxes withheld, and net pay.
Payments are directly deposited or mailed on the first business day of the month.
All changes must be made prior to your third payment being issued. Until the third payment is issued, you can:
- Cancel your application,
- Change your plan,
- Change your acceleration, or
- Change your survivor.
You must have a break in service and terminate all TRA-covered employment prior to your benefit effective date. Once that break in service is established, you may then return to any other TRA-covered employment following your benefit effective date. Your retirement application must be submitted before you return to work or your benefit effective date will be delayed.
