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.
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.
You can find additional details of the plan and an example of how benefits are calculated by referring to the Summary Plan Description.
- Once you have made the decision to retire, complete the Application for Retirement Benefits form located in the Anytime Events system. The application should be completed and submitted 2-3 months in advance of your retirement date.
- 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 Benefits Manager 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 2 weeks notice is required to receive a payout of accrued and unused vacation hours. Refer to your Union Contract for further information.
- .If you are an Official Retiree (age plus years of service equals 75), a Benefits representative 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 team.