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Missing Payments

  • Bank Mergers & Electronic Transfers

When a Mailed Payment is Missing  

Contact PSERS if your check does not arrive by the 10th of the following month (e.g. your January check has not arrived on February 10th).   Waiting until the 10th of the month allows the post office sufficient time to forward your check to you or reroute misdirected mail.   You should contact PSERS sooner if you know that your check was stolen or destroyed .

PSERS will not place a stop payment on a missing check until the 10th of the month unless you are sure that your check was stolen or destroyed.  

Replacing a Missing Mailed Payment

When you contact PSERS to report your check missing, stolen, or destroyed, PSERS will place a stop payment on the check.  If your missing check has not been cashed, you can expect to receive your replacement check in four (4) weeks.  Your replacement check will contain information in the top left-hand corner stating what originally issued check it is replacing.
 
If your check arrives in the mail after PSERS has placed a stop payment on it, do not cash it.  You should know that if you attempt to cash the check after a stop payment has been placed on the check, you may be subject to returned check fees by your bank.  Please write “Void” on the stopped check and return the stopped check to PSERS.   

If Your Missing Check Was Cashed

If the bank determines your missing check was cashed, you will receive a letter stating that your check was already cashed.  If it is necessary for you to receive a photocopy of the cancelled check in order to verify the endorsement, you must respond from that letter to ask for it.  When we receive that request from you, we will ask the Pennsylvania Treasury Department (Treasury) to forward a photocopy of your check to PSERS.  When received by PSERS, the photocopy will be sent to you along with a letter giving additional instructions should you feel that the endorsement on the check is a forgery.  If it is a forgery, PSERS will instruct Treasury to conduct an investigation.  Unfortunately, with forgery situations it may take several months to a year to replace your check.  

When Your Electronic Transfer Is Missing

If your electronic deposit is not in your financial institution by 9:00 a.m. on the last business day of the month, you should first contact your financial institution.   Ask the financial institution’s representative to check the internal processing to make sure the delay was not within the financial institution.   If no record of the transfer is found, ask the representative to verify your account number and the institution’s routing number.

After verifying the information with your financial institution, call PSERS with the account number and routing number information.  For your own security, you should not email account and routing number information.  

PSERS will check our records to make sure the payment was routed to the proper account and the financial institution routing number was correct.  If the account number was correct, the problem is usually solved the same day or within 24 hours, depending upon the financial institution’s policies.  Incorrect account numbers and/or routing number discrepancies may take up to 15 days to resolve.

Missing Payments


Incorrect Addresses and Missing Mailed or Electronic Payments  


Even if you receive your monthly benefit by electronic transfer, be sure to keep your home address up to date.  If you do not have a valid mailing address on file with PSERS, your monthly benefit payment will temporarily be suspended until we receive written, signed verification from you of your correct address.   PSERS must have your correct mailing address for your payments to continue.


The process to suspend the benefit payment starts as soon as PSERS receives returned mail, even if there is a post office notice containing a forwarding address.  PSERS will not accept a post office forwarding notice, an email, or phone call as a verified address change request.  


To make changes to your address, you must notify PSERS in writing.  Please include your name, the last four digits of your social security number, former address (or name), new address (or name), current telephone number, the effective date of the change, and your signature in the letter.  You may also complete a Change of Address for PSERS Retirees (PDF) form to change your address with PSERS.  If you have named a Power-of-Attorney (PDF) and the POA was approved by PSERS, the POA may change your address on your behalf.  


Once we receive the corrected address information after a payment was suspended, it can take up to 3 weeks for you to once again receive payments.  PSERS will send you any payment(s) that was held due to your incorrect address.  


Electronic Transfer vs. Mail  


PSERS requires that all new retirees have their monthly payment sent directly to their financial institution as an electronic transfer.  It takes less time to resolve an electronic transfer problem than a problem with a missing check.  Electronic transfer problems are also far less common.  PSERS highly recommends that all members sign up for the electronic transfer of their monthly payment. 


To sign up for the electronic transfer of your payment directly into your account, you need to complete and submit to PSERS the Authorization for Direct Deposit – Electronic Transfer of Monthly Payment (PDF).


Bank Mergers & Electronic Transfers


Bank mergers may result in a different account number and/or routing number for your monthly payment.  Be sure to check with your new bank and verify your account number and routing number.  Should your bank merge with another bank, do not assume that the bank will notify PSERS of the change.  If there are any changes to your account number or bank routing number, you should verify that this change has been communicated from your bank to PSERS.  If the change has not been communicated to PSERS, you must submit a new Authorization for Direct Deposit - Electronic Transfer of Monthly Payment (PDF).