What happens after the retirement application is submitted?

Once the retirement system receives your application, they will correspond directly with you from that point on. No further correspondence comes from them to the Human Resources Office. You will need to watch your mail closely and quickly respond to any mail from the State of North Carolina Treasurer's Office. Delays in responding to correspondence they send you could delay your first retirement check. You will receive several forms that you need to complete and return:

  • Form 333: Choosing the Contributory Death Benefit which is a $10,000 life insurance policy that, if elected, premiums are deducted directly from your retirement check.
  • Form 290: Tax Withholding forms for both Federal and State Taxes. You will need to complete this form even if you are Bailey Vested (State Tax Exempt) in the retirement system.
  • Form 336: Naming a beneficiary for the guaranteed refund of contributions. Note that if you choose a survivorship payment option for your retirement payment, you must name a difference person for the guaranteed refund of contributions.
  • Form 6E: Choosing your benefit payment plan. This form will show you the 6 payment options and the amount you would receive under each option. You should read about those payment options on the retirement system website and discuss them with your family and financial advisor/accountant as to what will be the best payment option for you to choose.

Some of the forms that you receive do require a notary (we can notarize the forms for you here in our office). If you have questions regarding how to complete any of the forms, please feel free to contact Debbie Holshouser to set up an appointment to go over the forms to make sure that they are completed correctly. (We can check for accuracy in completion, we cannot advise you as to which payment option you should choose or how you should fill out your tax withholding forms).

Show All Answers

1. I've decided on a date to retire, what do I need to do to submit the paperwork?
2. What about all of my benefits, insurances, etc?
3. I've completed all of the forms, when do I get my first retirement check?
4. What happens after the retirement application is submitted?
5. What happens to my vacation and sick leave when I retire?
6. When should I submit my application for retirement?
7. Where can I go to get information on planning my retirement?
8. How do I decide on a retirement date?