With direct deposit, your retirement payment is automatically deposited into your designated bank account on the last business day of each month. An Advice of Deposit or, if you do not have direct deposit, your pension check, is mailed on that date.
If you are changing to a new bank account, you must complete a new Direct Deposit Authorization form. Please submit the signed form along with a voided check, imprinted with your name and account number. SCERA must receive your new completed form by the 15 thof the month for the change to be effective the month-end following receipt. If your form is received later than the 15 thof the month, the change will be effective for the following month-end payment.