Welcome to the Office of Retirement
PSERS’ PENSION PLAN CHANGES
Employee Starting on or after 7/1/2019
Act 5 of 2017 created three new classes of membership. Two of the new classes are hybrid plans (Class T-G and Class T-H) consisting of a side-by-side defined benefit and a defined contribution component. The third class is a stand-alone defined contribution plan (Class DC).
As a new salaried employee, you will be enrolled in Class T-G, which offers the highest guaranteed monthly retirement benefit and invests participants’ contributions. The employee contribution rate is currently 8.25%. View PSERS ‘Information for New Employee’ flyer.
You have 90 days from your hire to move into either of the alternate plans, T-H or Class DC. Visit the ‘New to PSERS’ page here.
PSERS members before 7/1/2019
As qualified Class T-C, Class T-D, Class T-E, or Class T-F members, you may choose to elect one of the new membership classes if you are an active, contributing member on July 1, 2019. The election into one of the new membership classes will apply to service rendered on and after January 1, 2020. Please note that these new classes provide a lower guaranteed retirement benefit.
The election period for Class T-C, Class T-D, Class T-E, and Class T-F members to elect one of the new membership classes is September 1 to November 30, 2019. Additional information will be provided on this election opportunity in the newsletter PSERS will be sending at the end of August.
No action is required to remain in your current membership class.
Click HERE for more information!
Register for Instant Access to Pension Account Information/Transactions!
PSERS is introducing the Member Self-Service (MSS) Portal
Register Today at www.psers.pa.gov
• Updating, adding and removing beneficiaries
• Calculating/adjusting tax withholding
• Estimating your retirement benefit
• Electing Class T-F and/or Multiple Service, if eligible
• Viewing documents including Statement of Accounts, PSERS staff-prepared estimates, 1099Rs, income verifications, and more!
Click HERE for more information!
FOUNDATIONS FOR YOUR FUTURE
The PSERS Foundations For Your Future (FFYF) programs are designed to provide you an overview of your retirement benefits. These programs offer general information about PSERS’ benefits and services. Attendance at a FFYF program will help you begin to plan for your retirement early in your career. Each program lasts approximately 90 minutes. These programs are provided solely for the education of members of PSERS.
A PSERS Retirement Counselor will cover topics such as benefit options, withdrawal of contributions, rollovers, taxes, and legislative actions affecting PSERS. PSERS recommends that all active members attend an FFYF seminar, particularly if you are planning to retire within the year.
Below is a list of upcoming sessions in our area:
Philadelphia Quartett Country Club, 1075 Southampton Road, Philadelphia 19116 on July 25, 2019 at 10:00 AM.
The Office of Retirement manages employee contributions to the Public School Employees’ Retirement System (PSERS).
As a PSERS member, you’ll join with over a half million fellow public school employees who are also members. You’ll contribute to your own personal PSERS retirement account and profit from having a safe, secure, and guaranteed benefit payment(s) from one of the largest public pension plans in the nation. PSERS can be contacted at 888-773-7748.
Providing Notice of Intent to Retire or Resign
When you are planning to separate from the School District of Philadelphia, you must submit a signed Retirement-Resignation Form and Checklist to the Retirement Department.
The form is available in person or on our forms page
Forms can be submitted in-person, by US Mail, by Fax to (215) 400-4681 or scanned and emailed to Retirement@philasd.org. Please keep your fax confirmation page or email as proof of submission. Call our offices at (215) 400-4680 to confirm receipt of mailed copies.Retirement Office 440 N. Broad Street, Suite G-8 Philadelphia, PA 19130
Using this form ensures that your information is correctly reported to all impacted parties. Pennsylvania School code requires all professional employees (those with certifications) to provide 60 calendar days notice of their intent to separate. Failure to provide notice 60 days in advance may prohibit any future employment through the School District and result in forfeiture of compensation from any unused leave balance (termination pay). Please read below for more information.
2018-2019 School Year Calendar
The 2018-2019 academic school year began earlier than in past years. As a result, the last work day and last paid (contract) day will be earlier in June 2019. For 10-month employees, based on the position, the last paid (contract) day for 2018-2019 year-end separations are:PFT Saturday, June 15, 2019 School Police / 1201 Friday, June 14, 2019 CASA Friday, June 14, 2019 Student Climate Staff Wednesday, June 5, 2019 Food Service Workers Tuesday, June 4, 2019
Effective Date of Retirement/Resignations
Provisions 1101 and 1121 of the Public School Code require professional employees to provide written notice of sixty (60) days before resignation/retirement becomes effective. If you provide less than 60 days notice, this may prohibit any future employment through the School District and result in forfeiture of compensation from any unused leave balance (termination pay).
* This information is shared from PSERS Website.
PSERS processes most retirement benefits within 4 to 6 weeks after they receive all of the following information:
- Your properly completed application
- Date of termination
- Your last salary and service reported by the School District.
The School District will provide PSERS your date of termination and final earnings the month following the distribution of your final pay (if applicable, reserve pay must be distributed as well before your information may be updated with PSERS).
IMPORTANT: If you terminate employment in June and receive your balance of contract payments in July or August, you will likely receive your first retirement benefit payment in October.