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Receiving Your Benefits

Your first check

After all forms and documentation are on file with KRS, your initial retirement benefit will be processed the month in which your retirement is effective.  Your first monthly benefit will be deposited or mailed on the 14th of the month and on the 14th of each month thereafter.  If the 14th falls on a weekend or holiday, the deposit will be made or check mailed on the last business day before the 14th.

Retirement refunds are paid through a different timeline than the monthly checks and cannot be issued prior to 45 days after termination.

Direct deposit

To set up your direct deposit, you must complete Form 6130, Authorization for Deposit of Retirement Payment, and file it with the retirement office.  If you do not have an account with a financial institution or the financial institution does not participate in the Automated Clearing House (ACH), you must complete a Form 6135, Request for Payment by Check.  Your retirement benefit will not be processed until the Form 6130 or Form 6135 is filed at the retirement office.  If you are now receiving a check and would prefer that KRS deposit your monthly payment directly to your account, you may complete Form 6130 and file it with the retirement office or set up direct deposit online via our self service website.  

Direct deposit is the safest and most reliable method of payment because it ensures that your check will not be lost, stolen, or delayed. Your money will be in your account on the day you expect it.  You will not need to rush to the bank to deposit your check, and you may travel without worrying about arranging for someone to watch for your check.

If you receive your retirement benefits via direct deposit at a U.S. financial institution and then have any portion of the benefit amount forwarded to a financial institution in another country, you must advise KRS immediately.  It may become necessary for your benefits to be paid via paper check, rather than direct deposit, in order to comply with International ACH Transaction (IAT) rules.

If you are receiving a payment by check, please be aware that:

  • Delivery Date: Checks are delivered to the Post Office on the 14th of the month.  If the 14th falls on a weekend or holiday, the checks will be mailed the last working day before the 14th.
  • Delivery Time: Checks may take five to seven working days to be delivered after being mailed.

When a check is sent through the mail, delays can occur.  Delays frequently occur during tax time and around Christmas due to the heavy volume of mail.  If your check does not arrive within seven working days of the 14th, you should contact the retirement office.  If your check has not been returned to KRS by the Postal Service, a duplicate check can be issued by the Kentucky State Treasury.  The procedure for issuing a duplicate check may take up to four weeks.

Changing the direct deposit

If you are changing the direct deposit of your monthly benefit from one account to another, you should not close the old account until after the first successful transfer of the funds to the new account.

In order to switch your direct deposit your will need to complete a Form 6130 - Authorization for Deposit of Retirement Payment, or make the changes using the self service website.  If you want to make the change by completing the 6130, print a copy, which is available on the KRS website, and submit the completed form along with the required documentation.  If you prefer, you can make the changes online via our self service website, which can be located at: MyRetirement.ky.gov.  If you have never used this service before you will need to register your account by using your PIN and establishing a user name.  Once logged in you can make the change to your direct deposit by completing the fields required; no additional paperwork needs to be submitted to KRS.

Please be aware if you request a change to the account number or financial institution to which your next monthly payment is deposited, the change through self-service must be completed or a paper application must be received in the KRS office before the 20th of the month.  If your change is made or received by KRS after the 20th of the month, your next monthly payment will be issued as a paper check, which will be mailed to your listed address; the requested change for the direct deposit to the new account will not be effective until the following month.



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