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    PUBLIC SCHOOL EMPLOYEES’ RETIREMENT SYSTEM (PSERS)

    Countdown to Retirement Checklist

    Retirement within the Next 12 Months

    • STAFF-PREPARED ESTIMATE: Request a staff-prepared estimate by calling PSERS at 1.888.773.7748 or by submitting a Request for Retirement Estimate (PSRS-151). Because PSERS will perform a thorough account review for your estimate, please allow 4 – 6 weeks for processing. 
    • FOUNDATIONS FOR YOUR FUTURE: If you have not already done so, attend a Foundations for Your Future (FFYF) educational program. FFYF programs are designed to give public school employees an overview of their retirement benefits. These programs are conducted in person and via webinar. The recorded presentation is also available on our website. 
    • RETIREMENT EXIT COUNSELING: Schedule and attend a small group Retirement Exit Counseling session. Be sure to bring your staff-prepared estimate to your counseling session. Retirement Exit Counseling sessions are available in person and online. Attending a Retirement Exit Counseling session is proven to eliminate errors in your Application for Retirement (PSRS-8) that will delay the processing of your retirement. Our dedicated and specialized retirement representatives can help guide you and your financial planner in ensuring your Application for Retirement is completed and timely filed. 
    • RESEARCH: 
      • Review helpful resources on the PSERS website such as the online estimate calculator, pamphlets, and handbooks.
      • Research your employer’s guidelines for terminating and resigning. 
      • Contact your employer to discuss employerprovided benefits, such as payment for unused vacation and sick leave, severance payments, and health insurance. Failure to actually notify your employer that you have resigned will delay the processing of your retirement benefit.  
      • PSERS also sponsors a health insurance plan and a Premium Assistance Program for PSERS retirees. For more information, contact the Health Options Program (HOP) at 1.800.773.7725 or visit the HOP website at hopbenefits.com. 
      • Consult with a financial planner or tax consultant, if needed. 
      • Contact the Social Security Administration regarding your benefits, if applicable. 
    • PURCHASE SERVICE: Make sure to submit a completed purchase of service request to PSERS while you are an active, contributing member of PSERS. Once you terminate PA public school employment, it will be too late to purchase service credit. Additional time restraints and requirements may apply depending on the type of service purchased. 
    • APPLICATION FOR RETIREMENT: Timely submit your completed Application for Retirement. To preserve a date of retirement following your last paid day of employment, you MUST file a completed Application for Retirement within 90 days of your termination date. You can confirm receipt and track the status of your Application for Retirement through the Status Tracker function available in your MSS account

    Two Years from Retirement  

    • PURCHASE SERVICE: Make sure to submit a completed purchase of service request to PSERS while you are an active, contributing member of PSERS. Once you terminate PA public school employment, it will be too late to purchase service credit. Additional time restraints and requirements may apply depending on the type of service purchased
    • SUBMIT A DOMESTIC RELATIONS ORDER (DRO), if applicable. If you have divorced and never submitted a copy of the DRO, consider doing it now.  Not having an approved DRO (ADRO) on file with PSERS can delay the processing of your retirement benefit.  PSERS needs to review the terms of the DRO to ensure it meets PSERS distribution requirements.  In the event that there is no Equitable Distribution of the PSERS funds, the former spouse must submit a Waiver of Pension Benefits (PSRS-1286)form to PSERS.
    • FOUNDATIONS FOR YOUR FUTURE: If you have not already done so, attend a Foundations for Your Future (FFYF) educational program. FFYF programs are designed to give public school employees an overview of their retirement benefits. These programs are conducted in person and via webinar. The recorded presentation is also available on our website. 
    • RESEARCH: 
      • Use the PSERS online retirement estimate calculator in your Member Self-Service (MSS) account to get an idea of what you may receive as your gross monthly benefit. 
      • Review helpful resources on the PSERS website about your options when leaving employment.
    • SET ASIDE LIVING EXPENSES. Consider setting aside funds to cover your living expenses during your retirement benefit processing time frame.  Access the current benefit processing time frames. Errors on the application or missing information may take even longer to process.