Leaving Employment
Thank you for your service to our students!
Employees that were contributing to PSERS and separate from service, are typically entitled to a refund of contributions. Employees who are vested with PSERS are typically entitled to a monthly pension benefit. For more information on the criteria to be vested or you have already met the criteria, please visit here.
You do not need to notify PSERS of your separation date. PSERS only accepts that information from your employer. The pension department reports work status changes biweekly. This means your separation will be sent to PSERS within 2 weeks of your separation date regardless of how you separated. Please keep in mind that this is not 2 weeks from the date that you submit the form, but 2 weeks from the first day of your separation. Neither the employer or employee can report a date to PSERS that is in the future. It is important that you provide your separation date prior to your separation. If your separation is reported after your separation, this may push back your pension processing time and when you will receive your refund or benefit. In that case, your separation is reported to PSERS within 2 weeks from when it was reported to the SDP even if the separation date is prior to submitting it to the SDP.
Guidelines for Leaving Employment
All notices of intent to retire or resign should be directed to separations@philasd.org by completing the Retirement/Resignation Form. If you are not able to scan your form, you may take a picture of it on your smart phone and email it to separations@philasd.org. The form can also be faxed to 215-400-4604 and brought in person to:
Central Office
Office of Talent
Second Floor, Portal D, Suite 222
440 N Broad St. Philadelphia, PA 19130
This form is not required if you are terminating one of two roles or if you are switching from one role to another. Please also review the retirement/resignation checklist to ensure you have closed out all practical matters, as well as which departments to contact regarding final steps. Your supervisor (and union if applicable) will be notified the same day or next work day the form is submitted. You will also receive an acknowledgement letter to the email the form was submitted from.
60 Day Notice for Professional Employees
Provisions 1101 and 1121 of 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.
Termination Pay
Termination pay is the payout of accumulated personal illness, personal leave, or vacation days. This payment is not pension eligible and will not delay your reporting to PSERS. More information is available on termination pay and accrual here. Termination is processed by the Payroll Department, payrollhelp@philasd.org.
Accessing your Pension
It can take at least 3 months from your separation date before all pension process is finalized and prepared to be paid to you. PSERS does not begin processing your pension until you show separated from service and final salary has been reported. Final salary is reported to PSERS the month following it is paid to you. This applies to both taking a refund and collecting a monthly benefit. It is imperative that you plan around at least a 3 month processing time before expecting to receive your pension refund or monthly benefit. The SDP is not able to provide details on the processing or payout of your pension contributions. Please review the following recommendations for more information accessing your pension when preparing to separate:
- Requesting an Estimate: If you are seriously considering retirement within the next 12 months, it may be in your best interest to receive a staff-prepared retirement estimate from PSERS. PSERS will provide up to two staff-prepared estimates within a 12-month period. An estimate can be computed by PSERS to show the potential monthly benefit you would receive at retirement through the normal, early, vested or disability benefit. The PSERS estimate is the only official retirement estimate pertaining to your PSERS benefit. To obtain a PSERS staff-prepared retirement estimate, complete a Request for Retirement Estimate and forward it directly to PSERS by using the fax or mailing address on the form. This can also be done over the phone by contacting PSERS at 1-888-773.7748. Click here to read about PSERS’ Online Retirement Calculator.
- Foundations For Your Future (FFYF): these PSERS seminars are designed to give public school employees an overview of their retirement benefits. These seminars provide all active members with general information about PSERS’ benefits and services. Attendance at a FFYF seminar will help you begin to plan for your retirement early in your career. Each seminar lasts approximately 90 minutes. These seminars are provided solely for the education of members of PSERS. Financial planners will not be permitted to solicit business at these seminars. prior to attending the Exit Counseling Session. Emphasis at the Exit Counseling will be on completion of the retirement application and related forms. The Foundations for Your Future programs provide a broader overview of PSERS benefits and retirement and are designed to prepare you to proceed onto the more detailed information and the completion of the paperwork presented during an Exit Counseling session.
- Exit Counseling: Exit counseling is offered as a service to anyone retiring in the current school year. Six to nine months prior to your date of retirement, contact your PSERS regional office to schedule an Exit Counseling session. The Exit Counseling sessions are scheduled to accommodate a small group. Exit Counseling is offered both in person or virtually , both meetings will cover the same information and are small group limited to 10 retirees plus one guest. 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. Advance registration is not required to attend any of these seminars. Please contact the PSERS Southeast Regional Office at 215.443.3495 if you require an accommodation to participate.
- Withdrawing your Pension: To receive a refund your pension contributions, please contact PSERS directly to obtain the appropriate form. If you are vested, and would like to apply for a monthly pension benefit, please complete the Application for Retirement.
PSERS Retirement Types
- Normal Retirement: Normal retirement, also known as superannuation or full retirement, is an unreduced DB benefit where all age and/or service requirements are met. If you are vested, you may receive a normal retirement benefit when you terminate public school employment. To qualify for normal retirement under the PSERS guidelines, employees must meet certain qualifications:
| Membership Class | Eligibility for an Unreduced DB Benefit |
|---|---|
| T-C* | - Age 62, or - Age 60 with 30 years of service, or - 35 years of service regardless of age |
| T-D | - Age 62, or - Age 60 with 30 years of service, or - 35 years of service regardless of age |
| T-E | - Age 65 with a minimum of 3 years of service credit or - Any combination of age and service that totals 92 with at least 35 years of credited service |
| T-F | - Age 65 with a minimum of 3 years of service credit or - Any combination of age and service that totals 92 with at least 35 years of credited service |
| T-G | - Age 67 with a minimum of 3 years of service credit or - Any combination of age and service that totals 97 with at least 35 years of credited service |
| T-H | - Age 67 with a minimum of 3 years of service credit |
* Special rules apply if you terminated service before July 1, 2001. Contact PSERS for more information.
- Early Retirement: Early retirement is a reduced retirement benefit available to members who do not meet the normal retirement requirements. The chart below identifies the years of service necessary for an early retirement and the retirement factor(s) used to reduce your monthly benefit:
| Membership Class | Eligibility | Amount |
|---|---|---|
| T-C* | 5 years of service | The normal retirement benefit is reduced by an early retirement factor so that the "present value" of the account is actuarially equivalent. The reduction correlates to how far away the member is from superannuation age. In effect, the member receives less each month because the benefit will be received over a longer period of time. |
| T-D | 5 years of service | The normal retirement benefit is reduced by an early retirement factor so that the "present value" of the account is actuarially equivalent. The reduction correlates to how far away the member is from superannuation age. In effect, the member receives less each month because the benefit will be received over a longer period of time. |
| T-E | 10 years of service | The normal retirement benefit is reduced by an early retirement factor so that the "present value" of the account is actuarially equivalent. The reduction correlates to how far away the member is from superannuation age. In effect, the member receives less each month because the benefit will be received over a longer period of time. |
| T-F | 10 years of service | The normal retirement benefit is reduced by an early retirement factor so that the "present value" of the account is actuarially equivalent. The reduction correlates to how far away the member is from superannuation age. In effect, the member receives less each month because the benefit will be received over a longer period of time. |
| T-G** | 10 years of service | Same factors as of above if: (1) retiring between age 62-67; or (2) any age below age 62 if 25 years of service. If retiring prior to age 62 with less than 25 years of service, then the current reduction factor from age 62 to 67 plus a different reduction factor from actual retirement age to age 62. |
| T-H** | 10 years of service | Same factors as of above if: (1) retiring between age 62-67; or (2) any age below age 62 if 25 years of service. If retiring prior to age 62 with less than 25 years of service, then the current reduction factor from age 62 to 67 plus a different reduction factor from actual retirement age to age 62. |
* Special rules apply if you terminated service before July 1, 2001. Contact PSERS for more information.
** Early Retirement applies to only the DB component of a Class T-G or Class T-H member’s benefit.
- Special Early Retirement: For Class T-C, Class T-D, Class T-E, Class T-F, and Class T-H members, a special early retirement is available if you are at least age 55 and have 25 or more years of credited service (“55/25”). A “55/25” retirement is reduced by one quarter of one percent per month for each month you are under normal retirement requirements. Class T-G members, have a special early retirement available if you are at least age 57 with 25 years of service.
- Disability Retirement: To apply for a PSERS disability retirement benefit, you must have at least five (5) years of credited service with PSERS. There are more eligibility requirements to apply for a disability retirement. Click here for more disability retirement information.