(1) The division shall pay estimated retirement benefits to qualified members for up to three months. To qualify for estimated retirement benefits, a member must file an application for early or normal service retirement, terminate active service, and meet retirement age and membership service requirements.

(2) The division shall pay estimated disability retirement benefits for up to three months to members granted disability retirement status by the board.

(3) The division shall obtain from the employer all documentation necessary to determine the member's total service credit and final compensation and calculate the amount of the member's retirement benefit. The member's retirement application shall be submitted to the board for approval at the next meeting after the division finalizes the benefit amount.

(4) Estimated retirement benefits will be suspended after three months if the member's retirement application has not been finalized by the division and approved by the board. Monthly benefit payments to the member will not resume until after the board approves the retirement application. The first payment following board approval will include any previously suspended payments and retroactive amounts owed the member.