Simple process, fast service for rapid retirement.

• Author: Alice, Kern

The previously time-consuming and confusing process of retirement has been transformed by the Teachers' Retirement System of Illinois through a short, hassle-free telephone call with a benefits counselor.

Each year the Government Finance Officers Association bestows its prestigious Award for Excellence to recognize outstanding contributions in the field of government finance. The awards stress practical, documented work that offers leadership to the profession and promotes improved public finance. This article describes the 1997 winning entry in the policies and procedures subcategory of the pensions and benefits category.

The Teachers' Retirement System (TRS) of the State of Illinois, created in 1939 by the General Assembly, has a current membership of 141,235 active members, 37,768 inactive members, and 59,686 retirees and beneficiaries. After experiencing one of the largest early retirement programs in the country during 1993-1995, TRS recognized the need to move into a new era of service delivery. Its members, having become more active, inquisitive, mobile, technologically astute, and demanding, wanted expanded service, increased access to TRS, faster access to information, and answers with less hassle. The response was the TRS Rapid Retirement Program, an innovative service developed to simplify the retirement application process. This program allows a member to process retirement over the telephone during a short conversation with a benefits counselor, review a personalized retirement packet within 2-3 days, and Complete the retirement process by signing and returning the packet.

Prior to the creation of the Rapid Retirement Program, the retirement process could be time-consuming and confusing. The TRS annually distributed, upon request, lengthy retirement application packets consisting of some 39 pages of information on the retirement process and instructions for completing the numerous forms. In addition, each spring, benefits counselors conducted large group sessions throughout Illinois to provide step-by-step instructions on deciphering the application and completing the forms. Because many members were unable to attend these meetings, they either had to plan a special visit to a TRS office for assistance or attempt to complete the forms on their own. Despite the best efforts of TRS, many applications were completed incorrectly, which resulted in processing delays. In some cases, it took more than 30 days for members to receive...