If you’re planning to retire this summer, use the checklist below to make sure you complete all the necessary steps to begin receiving a monthly benefit payment from Colorado PERA.
90 Days Before Effective Date of Retirement
- Complete the PERA or DPS Retirement Application.
Before You Leave Employment
- Coordinate with your employer and have them submit the Final Six Months’ Salary Report when they are able to accurately certify the required information.
- Pay off any outstanding agreements to purchase service credit.
- Review the working after retirement provisions if you plan to work for a PERA employer in the future.
By the 15th of the Month Your Retirement is Effective
- Direct how PERA is to withhold taxes from your benefit by submitting the Colorado State Withholding Form, Form W4-P, or Form W-4R. See the 2023 Federal Tax Withholding Changes for additional information.
- Have your retirement benefit automatically deposited to your bank account by completing the Direct Deposit by Electronic Funds Transfer (EFT) form.
Within 30 Days of Your First Benefit Payment
- Submit your PERACare Enrollment/Change Form if you want health, dental, or vision coverage with PERACare.
*What is my effective date of retirement?
Generally, your effective date of retirement is the first day of the month after your last day on the job. If you’re receiving paid sick leave, annual leave, or vacation, your effective date of retirement may be the first day of the month following the last day of paid leave.