The Exchange is Changing Pension Payment Providers—Here’s What You Need to Know

Exchange Benefits

The Exchange is changing pension payment providers. As of Dec. 31, State Street will no longer provide pension payments on behalf of the Exchange. Northern Trust will assume this service effective Jan. 1, 2023. Here is what you can expect with Northern Trust and other key milestones:

  • Quicker turnaround with address, tax and direct deposit changes. Northern Trust will directly accept and process changes via mail. Northern Trust will also accept address changes over the telephone (after credentials re verified). This change will begin Jan. 2, 2023.
  • Northern Trust has an Interactive Voice Response (IVR) to allow you to securely obtain information quicker. Additionally, when you reach out to a representative at Northern Trust, you will be speaking to their call center located in the United States.
  • State Street will mail the 2022 tax forms on Jan 30, 2023. As a reminder, the IRS requires all tax forms to be issued by Jan. 31, following a tax year. To ensure tax forms are received in a timely manner, please report any address changes to the Exchange no later than Dec 1, 2022. Northern Trust will mail the 2023 tax forms.
  • Pension income verification requests should now be sent to the Exchange beginning Jan. 1, 2023.

Please keep on the lookout for additional information regarding Northern Trust’s website, call center number and more!

For additional information, please call AAFES Retiree Benefits at 800-519-3381 or send an email to [email protected].

 

 

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14 Comments

  1. Steve Lushbaugh on September 27, 2022 at 11:49 am

    Just wondering what triggered the change?

    • Steve Lushbaugh on September 27, 2022 at 1:58 pm

      Disregard, I was looking at a message without the details. Thanks

  2. jennie biggar on September 27, 2022 at 12:04 pm

    As long as my payment is posted on time.

  3. Joel Sontag on September 28, 2022 at 2:12 pm

    I am a AAFES retiree and wish to be placed on you email list for all future emails.

  4. Dorothy Williams on September 29, 2022 at 10:03 am

    Please include me on all e-mails AAFES Retirre

    • Robert Philpot on September 29, 2022 at 10:58 am

      Hi, Dorothy. You’ve been added to the distribution list. You should start receiving emails no later than Friday.

      Robert Philpot
      The Exchange Post

  5. Loa Ballis on October 2, 2022 at 2:32 pm

    I am an AAFES retiree please add me to the distribution list

    • Robert Philpot on October 3, 2022 at 3:18 pm

      Hi, Loa,

      You’ve been added to the distribution list. You should start receiving emails on Oct. 4. Let me know if there are any problems.

      Robert Philpot
      The Exchange Post.

  6. Elaine J Belue on October 5, 2022 at 10:46 am

    How do I get on the mail list for The Exchange Post?

    • Robert Philpot on October 5, 2022 at 1:36 pm

      Hi, Elaine,

      You’ve been added to the distribution list. You should start receiving emails no later than Friday.

      Robert Philpot
      The Exchange Post

  7. Yaron Reed on October 13, 2022 at 7:59 am

    Good Morning, Please add me to the Exchange Post e-mail distribution list and thank you so much for all your help and have a great day!!! Thank you Jesus!!!!!

    • Robert Philpot on October 13, 2022 at 9:08 am

      Hi, Yaron.

      You have been added to the distribution list. You should start receiving emails today (if you haven’t started receiving them already).

      Robert Philpot
      The Exchange Post

  8. cheryl phidd on October 14, 2022 at 10:47 pm

    please add me to the email list please

    • Robert Philpot on October 17, 2022 at 1:10 pm

      Hi, Cheryl. You’ve been added to the list. You should begin receiving emails Tuesday at the latest. Let me know if there are any problems.

      Robert Philpot
      The Exchange Post

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