Retirement Process For Participants in the MGS & PSS Retirement Plan A

Maintenance, Grounds, and Service Staff members hired prior to 10/09/2004 are participants in the MGS Retirement Plan A. Professional Support Staff members hired prior to 02/02/2006 and Police staff members hired prior to 03/05/2007 are participants in the PSS Retirement Plan A. These are traditional pension plans; members will receive a monthly benefit at retirement.

You can find additional details of the plan and an example of how benefits are calculated by referring to the Summary Plan Description.

If you are a participant in one of these plans you should follow the process noted below to ensure a smooth transition in to retirement.

 


Process

  1. Once you have made the decision to retire you should request a retirement application from Human Resources. The application should be completed and submitted 2-3 months in advance of your retirement date.
    • Once completed, the application can be submitted to Human Resources via email, fax, or intercampus mail
    • Your retirement application will then be sent to our plan actuary to calculate your pension.
  2. Approximately 2-3 weeks after submitting your retirement application your pension calculation will be received from the actuary.
    • You will be notified by email to schedule a meeting with the Human Resources Representative to review your pension calculation.
  3. At least 2 weeks in advance of your retirement date provide an official retirement letter to your supervisor and Human Resources.
    • If eligible for vacation a minimum of 4 weeks notice is required to receive payout of accrued and unused vacation hours. Refer to your Employment Handbook for further information.  
  4. If you are an Official Retiree (age plus years of service equals 75), the Benefits Office will send you a Retiree Medical and/or Medicare Supplement Reimbursement information packet
    • Upon receipt of the packet you should complete the enclosed forms and return them to the Benefits Office

Retiree Benefits



Page last modified May 20, 2016