Madison County Schools

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2018 Job Fair: May 18, 2018
Payroll & Insurance Department » Retirement

Retirement

Act No. 11108 of the 1975 Legislature made all fulltime employees of public educational institutions eligible for membership in the Teachers' Retirement System effective October 1, 1975. All full-time employees must join the Teachers' Retirement System as a condition of employment regardless of in what manner or what basis paid, except:  Temporary employees, part-time employees  working less than one-half time(under 20 hours a week),  substitute and student employees.

During the 2012 regular session of the Alabama Legislature, Act 2012-377 was adopted.  This legislation created a new defined benefit plan tier for employees hired on or after January 1, 2013 with no previous creditable service.  The employee contribution rate for Tier I employees is 7.5% and the employee contribution rate for Tier II employees is 6.0%.

For benefit explanations regarding the two Tiers of retirement visit the Retirement Systems of Alabama.

Ten years of creditable service are required for an employee to become "vested" of eligible for benefits. Persons terminating their employment with less than 10 years of service must withdraw their retirement funds.  Complete Part 1 of RSA-7,11/98 Notice of Final Deposit and Request for Refund , notarized and return to the payroll department for processing. Your check will be issued directly to you within six to eight weeks upon receipt from the Teachers' Retirement System.

If you would like to receive additional information about your benefits, you may address specific questions about your account to the TRS in writing at P.O. Box 302150, Montgomery, Alabama 36130-2150 or by calling (334)517-7000   or 1-877-517-0020 toll free.