Certified Retirement Incentive FAQ:
- Am I eligible?
In order to be eligible, an employee must:
- be active as of 11/19/2018
- eligible to retire from TCRS, and
- have at least 10 years of service with KCS.
All employees that accept the CRI plan must apply for a TCRS benefit immediately following their retirement date.
- How do I find out if I am eligible?
An email was sent to all eligible employees from Scott Bolton on 11/19/2018. Eligible employees will also receive the same documents by US mail.
- What if I think I am eligible, but I have not been notified?
Employees that believe that meet the CRI Plan eligibility requirements but did not received the email should notify Scott Bolton (firstname.lastname@example.org) and Mike Atkins (email@example.com) via email before 11/30/2018. They will look at the specifics of your employee history and service with TCRS to determine your eligibility.
- How will I receive the incentive money?
The stipend will be paid approximately the last business day of each month.
- How much is the incentive?
The amount this year is $344.85 per month. This amount will change as premiums may change.
- Do I pay taxes on the incentive amount?
This stipend is subject to Federal Withholdings however it is not subject to Social Security FICA taxes.
- Will my regular insurance amount come out of my TCRS check?
If you continue your insurance with us in retirement, then your premium will be taken from your TCRS check.
- How long will I get the incentive amount?
You will receive a stipend each month for at least one year (until you are eligible for Medicare), but not to exceed 14 years of payments.
- If I die, will the incentive end?
The benefit will be paid to your estate in the unfortunate event of your death for the length of time promised.
- Is the incentive just offered for this year only?
Yes, this incentive is only for this school year.
- If I retired last year, am I eligible?
Unfortunately, you have to be active on 11/19/2018 to be eligible. If you retired or resigned prior to that date, then you would not be eligible.