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.
- 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.
- 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.
- 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.
- 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