Retirement Planning
Thinking about retirement? This page will help you prepare for retirement, whether you plan to retire this year or well into the future.
Be sure to visit PenPoint, a self-service retirement system for MCPS employees, by clicking on the log-in button to the right and entering your MCPS username and password. PenPoint lets you access your yearly Retirement Benefit Statement and estimate your MCPS core and supplemental retirement benefit amounts based on different scenarios.
The tabs below provide links to additional retirement information, including retirement publications, forms, a retirement timeline, and details about retiring after disability.
- Watch training videos on how to use PenPoint
- State core plan member? View your 1099-R and/or Personal Statement of Benefits
- Request a pension refund or rollover for employees who have resigned
- Read important information for employees who are retiring or resigning from MCPS
- View recordings of Retirement Informational and Forms Webinars
Active employees:
Log in below to access
your retirement information.
Now available in PenPoint: Retirement Benefit Statements as of June 30, 2024
General Retirement Resources
- Retirement Savings describes your pension plan and other retirement savings benefits.
- Statement of MCPS Core and Supplemental Retirement Benefits provides your projected retirement benefit as of the end of the previous fiscal year. Current statements are available via PenPoint; statements prior to 2014 are available on myMCPS.
- Statement of State Core Retirement Benefits provides state core plan members' retirement benefits as of the end of the previous fiscal year.
- Understanding Your Retirement explains the retirement process and benefits.
- Retirement Informational Sessions and Forms Workshops (recorded webinars and in-person events) help with the retirement process and completing retirement forms.
- Maryland State Retirement Agency (MSRA) Pre-retirement Seminars are held throughout Maryland for State Core Pension Plan members within eight years of retirement.
- Retiree Benefit Summary informs you of your benefit options as a retiree.
- Retiree Benefit Rate Schedules provides monthly costs of benefits in multiple charts at each cost-sharing arrangement while factoring in Wellness Initiatives credits or charges.
Retirement Preplanning and Application Forms
Retirement Preplanning Forms
Thinking of retiring? Click on your core plan membership to access forms you may need as you are planning for your retirement.
- Members of the MCPS Core Retirement or Pension Plan
- Members of the State Core Retirement or Pension Plan
Retirement Application Forms
Ready to retire? Click on your core plan membership to access the required retirement application forms. Be sure to submit your application forms at least 30 days prior to your expected retirement date.
- Members of the MCPS Core Retirement or Pension Plan
- Members of the State Core Retirement or Pension Plan
Retirement Timeline
Considering retirement within the next 3 years? Click on each timeframe for a detailed list of actions to prepare you for retirement.
36 months or more
At this stage in the process, the most important step you can take is to do your homework.
- Check your MCPS core and supplemental retirement statements to see your current estimated projected retirement benefit amounts and retirement dates. State core plan members can review their retirement statements here.
- Read Understanding Your Retirement for detailed information about your retirement benefit and timelines to help you through the retirement process.
- Read The Mentor for information about The Maryland State Retirement and Pension System of Maryland (MSRA) pre-retirement seminars and a retirement checklist for MSRA members within 12 months of retirement.
- Read Retiree News, also from the MSRA, for more helpful information for "soon-to-be" and current retirees.
- Attend information workshops to hear from the experts.
9 to 12 months
Start taking concrete steps toward your retirement.
- Request an estimate of retirement benefits
- Run MCPS core and/or supplemental pension estimate in PenPoint
- MSRA Retirement Benefit Estimator
- Apply to purchase any eligible service and/or military service credit
- To apply to purchase service and/or military credit for your State core plan:
- Submit State Form 26: Request to Purchase Previous Service as indicated on form instructions
- Submit State Form 43: Claim of Retirement Credit for Military Service as indicated on form instructions
- To apply to purchase service and/or military credit for your MCPS core and/or supplemental plan:
- Submit ERSC Form 421: Request to Purchase Service to receive an estimate of the cost of purchasing service
- Submit MCPS Form 455-18: Statement of Military Service to transfer military service
- Contact ERSC for additional details about purchasing or transferring service
- To apply to purchase service and/or military credit for your State core plan:
- Prepare your retirement budget
6 months
Make sure you know all the details to ensure a smooth a transition.
- Read the Retiree Benefit Summary to familiarize yourself with retiree benefit options.
- Review the applicable rate chart in the Retiree Benefit Rate Schedules.
- Discuss your benefit payment options with your family and/or financial advisor.
3 months
- Download your retirement application forms
- Determine your federal and state withholding amount. Consult with your tax advisor for assistance.
- If eligible, contact the Social Security Administration to file for Social Security benefits and enroll in Medicare Parts A and B if you and/or your spouse are 65 or older.
- Review your 403(b) and/or 457(b) plan options, including rollover of sick and/or annual leave payout.
- MCEA members retiring July 1 must submit all retirement forms to ERSC by April 1 to be eligible for payment of 35 percent of their earned unused sick leave balance. Learn more about the MCEA sick leave payoff.
1 - 2 months
Send in your retirement forms and begin your transition to retirement.
- Return all retirement forms to ERSC, including 403(b) or 457(b) leave payout contributions agreement to rollover annual and/or sick leave payment, and a copy of your Medicare card with Parts A and B, if you or spouse/dependent is eligible for Medicare.
- All forms must be received by ERSC at least 30 days prior to your retirement date.
Disability Retirement
Learn more about applying for a disability retirement.