Monday, December 11, 2023

Direct deposit for retirees — easier than ever!

From DRS:

Posted 21-Jan-2016

Have you discovered the convenience and security of using direct deposit for your retirement benefit payments? If not, now is a great time to sign up. DRS has made it easier than ever to get started. We’ve created a direct deposit tool for you that’s available in your online retirement account.

With this new tool, you can switch from paper checks to electronic deposit without having to mail in a form or voided check. Simply log in to your secure account and state where you would like your payments to be deposited. Your secure personal information will automatically appear for you.

If you already have direct deposit, you can use the same tool to change your bank, credit union or other financial institution whenever you want any time of day.

With direct deposit, you can count on your benefit payment being deposited in your account on the last business day of the month every month, year in and year out. You’ll also have peace of mind knowing your payment isn’t at risk from mailbox theft or post office service interruptions.

“We know how important it is for our customers to receive their benefits when the payments are expected,” DRS Director Marcie Frost said. “During last year’s wildfires in Eastern Washington, we noted instances of post office shutdowns and delivery interruptions caused by power outages and road closures. Even though we didn’t identify any delays in benefit delivery, it’s always a concern when the mail might be held up by natural disasters or extraordinary weather events.”

To sign up for direct deposit, set up or log in to your secure online retirement account. Then follow the “Direct Deposit” directions under “My Account” in the navigation menu.

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