Active Members

Ready to Retire

Congratulations, you’ve made the decision to retire! DERP is here to help you navigate important next steps in the journey. The first step you need to take is to understand what you need to do and to be prepared. There are a lot of decisions you will have to make, documents to gather, and filing dates to meet before you can begin to collect your monthly DERP Pension Benefit. Because your choices uniquely impact your retirement future, it’s important to give yourself enough time to review your DERP Plus Benefits and options to ensure your countdown to retirement is on track and there are no delays. Let’s get started!

Five Steps to Take to Ensure a Smooth Transition to Retirement

Step 1 – Gather Documents

Your retirement application package includes a number of documents. Along with your Retirement Application, there are several documents you need to submit. To ensure you don’t overlook anything and avoid delays, we’ve created a Retirement Checklist of everything you need to include with your application.

Member Spouse /Beneficiary

Consent of Spouse
Your spouse must complete this form and have his/her signature notarized if you elect the maximum benefit or a joint and survivor benefit for a beneficiary other than your spouse.

Visit DERP’s Forms page and expand the Retired Members section for the Consent of Spouse form.

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Certified Birth Certificate or Passport
A certified copy of a birth certificate is a legal document issued by the vital records office in the state where you were born. The certified copy will have a raised seal, show the signature of the Local Registrar, and is printed on security paper.

DERP will not accept a birth registration, driver’s license, or hospital-issued birth certificate.

Contact the vital records office in the state where you were born to request a certified copy of your birth certificate.

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Social Security Estimate or Award Letter

  • Estimate of Benefits – If you have not applied for, and are not currently receiving, Social Security Administration (SSA) benefits, you must submit a copy of the Estimate of Benefits from SSA. You can get your Estimate of Benefits instantly online when you create or open your “my Social Security account.”
  • Award Letter – If you have applied for or are currently receiving SSA benefits, you must submit the original Award Letter (also known as a Notice of Award) you received from the SSA when your claim for benefits was approved.
    Keep in mind, it can take one to three months from the date your benefit is approved to receive your Award Letter. If you have misplaced your Award Letter you can request a copy by calling Social Security or visiting your local office. You cannot get it online. An Award Letter is not the same thing as a benefit verification letter.

Only pertains to Tier 1 and Tier 2 members who are eligible for the Social Security Make-Up benefit.

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Marriage Certificate/Common Law Affidavit
(if applicable)

Visit DERP’s Forms page and expand the Retired Members Section for the Common Law Affidavit.

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Medicare Card or Medicare Entitlement Letter of Award (if applicable)
Medicare is for people age 65 and older. Certain people younger than age 65 can qualify if they have a disability or special conditions.

If you intend to enroll in a Medicare Advantage medical plan through DERP and already have Medicare, you will need to provide a copy of your Medicare card showing you have Parts A and B. If you have applied and been approved, but haven’t received your card, you will need to provide a copy of your Medicare Entitlement Letter of Award.

Visit the Medicare website for more information and to create or log in to your account.

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Decree of Dissolution of Marriage (if applicable) X
Step 2 – Review and Decide

You’ll have key decisions to make at retirement that will impact your monthly lifetime DERP Pension Benefit payment. Completing the Retirement Application will be easier if you have an idea of the choices you want to make.

Health Insurance Coverage

Visit DERP’s Publications page and click on Your Guide to DERP Retiree Health Benefits to determine which insurance plan meets your needs.

You can also take a look at the presentations from our carriers describing the benefits their plans provide.

  • Non-Medicare plans:
  • Medicare plans:
    • Humana HMO or PPO – video
    • Kaiser Senior Advantage – video

Visit DERP’s Forms page and expand the Health Insurance section for the enrollment forms.

DERP Pension Benefit Options

When you apply for retirement you’ll have to decide on the DERP Pension Benefit option that meets your needs. The maximum option will cease upon your passing, while a joint and survivor option will ensure that your beneficiary will receive a monthly DERP Pension Benefit payment for their lifetime upon your passing.

Visit the DERP Plus Benefits section for more information

Lump-Sum Death Benefit

When you retire from active service, you will be eligible for a lump-sum death benefit. You will need to decide if you want to draw from it during your lifetime or if you want your beneficiary to receive it upon your passing.

Visit the DERP Plus Benefits section for more information.

Taxes in Retirement

  • When you begin receiving your monthly DERP Pension Benefit payment it is subject to federal and state income tax. You will need to decide if you want DERP to withhold taxes and, if so, the amount you want withheld.
  • You can update your tax elections in retirement by logging in to your MyDERP.org account and click the Tax Withholding button.
  • DERP will mail or make available your Form 1099-R – Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. by January 31 to report your distribution of retirement benefits.
  • DERP cannot provide tax counseling. Specific questions about your taxes should be directed to your personal tax advisor, the IRS, and/or the Colorado Department of Revenue.
  • Login to your MyDERP.org account, click the View Tax Forms hyperlink to view and print a prior Form 1099-R. To request an older Form 1099-R email Help@DERP.org.
Step 3 – Meet with a DERP Membership Services Representative

Setup a counseling session with a membership services representative so you can ask questions, discuss health insurance options, review timelines, go over your paperwork, and more.

Login to your MyDERP.org account, click the Counseling Appointments button to request an in person, phone, or virtual one-on-one counseling session.

Step 4 – Submit Your Notification of Intent to Retire

Members who are retiring from active service should submit their notification of intent to retire, in writing, to their supervisor, the Office of Human Resources (OHR) or designated human resources representative, and to DERP. Be sure to clearly indicate your last day of work as an employee and state the reason for separation is retirement.

DERP will contact you upon receipt of your intent to retire, and/or your online retirement application, and share next steps.

Step 5 – Submit Your Retirement Application

Your signed and notarized Retirement Application, and all required documents, must be received by DERP within 30 days of your last day worked.

You can complete the Retirement Application securely on your MyDERP.org. You will have to print the application, sign it, and have it notarized.

Visit DERP’s Forms page and expand the Active Members section for the Retirement Application.

Submit the Retirement Application and all required documents to:

Email: Help@derp.org

Fax: (303) 839-9525

Mail: Denver Employees Retirement Plan, 777 Pearl St., Denver, CO 80203

Important: Your monthly DERP Pension Benefit payment will be deferred if you submit an incomplete package, or if DERP does not receive your complete package within 30 days of your last day worked. Failure to submit your retirement application and all other required forms and documents within 30 days of separation, will result in your DERP Pension Benefit monthly payments being delayed and the loss of the Lump-Sum Death Benefit.

Your DERP Pension Benefit is effective the first day of the month following your separation if you’ve worked continuously up to retirement. Your monthly DERP Pension Benefit will be deposited in your account on the first business day of each month.

Resources

Publications

  • Visit DERP’s Publications page and click on Your Guide to DERP Retiree Health Benefits.

Helpful Links