Teacher Pension Transfer Plan Begins

Would-be transfers from the state Teachers' Defined Contribution Plan can start mailing in the necessary paperwork Tuesday _ though as The Associated Press learned, about 200 have already done so.

These folks aren't waiting on the benefit projections that state retirement officials have promised to send each of TDC's 18,989 eligible members, meant to help them make educated decisions.

The projections are slated for delivery April 17. The Consolidated Public Retirement Board "also expects to launch a Web site by then that will offer an online benefits calculator and password-protected specifics for each eligible enrollee," AP reports.

The Web site will also feature a tally, updated weekly, of those who have requested to transfer. Their ranks have to reach 65 percent _ 12,343 enrollees _ for the transfers to occur. If they hit 75 percent _ 14,242 enrollees _ they face lowered payments for ensuring full benefits under the Teachers' Retirement System.

"The timetable focuses on May 5 as 'transfer day,'' when TDC members can hand in their forms at their schools or other workplaces," the article said. "Forms must by postmarked or handed in to supervisors by May 12, with final results certified to the board by May 31."