STEPS TO RETIREMENT
- Attend or view the online the PSERS Foundations for your Future presentation. This is a general information meeting. Please go to the PSERS website: https://www.psers.pa.gov/Leaving-Employment/Nearing%20Retirement/Pages/Retirement-Overview.aspx
- Request a Retirement Estimate from PSERS. Click on the link below and print out the form. Complete the form and fax or mail it to the address noted in the mid-section of the form. https://www.psers.pa.gov/FPP/Forms/Documents/f151.pdf
- Notify Dr. Jeff Ulmer, Director of Human Resources, in writing of your intention to retire, including your retirement date (your last work day).
Human Resources will notify the Benefits Office of your retirement
- Call local PSERS office to set up your retirement counseling at 1-888-773- 7748, ext. 5475. This should be done AFTER you have attended the “Foundations for your Future” information meeting.
- You will receive a letter from the Benefits Office once your retirement has been approved by the Board regarding any retirement benefits you qualify for. Once you receive the benefits information and have reviewed it, contact the Benefits Office at 484-266-1011 or firstname.lastname@example.org with any questions or to set up and appointment.
PSERS Exit Counseling
PSERS 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 at 1-888-773-7748, ext. 5475 to schedule an Exit Counseling session. The Exit Counseling sessions are scheduled to accommodate a small group.
To avoid delays in the processing of your retirement benefits due to errors when completing the Application for Retirement (PDF) form. PSERS strongly suggests you attend an Exit Counseling session.
The requirements for attendance at an Exit Counseling session are:
- You plan to retire during or at the completion of the current school year.
- You have obtained from PSERS a current estimate of your retirement benefits. If you have not done so, complete and submit to PSERS a Request for Retirement Estimate form.
- After receiving your benefit estimate, call your PSERS Regional Office to schedule your Exit Counseling Session.
Things to Bring to Your Exit Counseling Session
Your PSERS Retirement Estimate
- The social security number, date of birth, and address information of your beneficiary (ies). If a beneficiary is under 18 years of age, you will need to provide a guardian’s name and address.
- A copy of your survivor’s birth certificate or driver’s license if you are electing a survivor option (Option 2, 3, or Customized). If a survivor annuitant is under 18 years of age, you need to provide a guardian’s name and address
- An Authorization for Direct Rollover (PDF) completed by you and your financial institution if you are electing to roll any of your contributions and interest.
If you are electing to have your monthly benefit payment sent directly to your financial institution, you should bring the following:
- Name of the financial institution.
- Name of the financial institution’s representative.
- Financial institution’s phone number.
- Financial institution’s routing number and check digit.
- Your financial institution account number.
- Whether the account number is a checking or savings account.
What Will Happen at an Exit Counseling Session?
These small group meetings begin promptly at their scheduled time. Please arrive in plenty of time to be seated at the scheduled starting time.
At the meeting, the PSERS retirement counselor will assist you with:
- Review of your retirement estimate.
- Completion of your Application for Retirement.
- Review of pertinent information on Retirement Exit Counseling Checklist.
- Individual review of your Application for Retirement.
The PSERS counselor will also:
- Review PSERS group health insurance information, The PSERS Health Options Program (HOP), and medical insurance payment reimbursement eligibility (premium assistance).
- Explain when you should receive your initial retirement benefit payments and how those payments are made.
Additional Information Regarding WCASD Health Benefits:
For 12-month employees, district benefits end on the last day of the month of the retirement date. For 10-month employees, health benefits end as of the last day of the month in which the employee worked their regular position. A COBRA notice will be mailed to the home address.
Retirees who are age 65 or older (Medicare eligible) at the time of retirement:
- Contact the Social Security Administration 2-3 months ahead of their retirement date to set up your Medicare Parts A&B, to be effective the first of the month following retirement. The SSA will give you a form for the district Benefits Office to complete, confirming you were enrolled in the district’s health plans.
- Research options for Medicare supplement/Medicare Advantage plans. The PSERS Health Options Program (HOP) is a good place to start. Other insurance companies also offer Medicare supplement/Advantage plans, such as United Healthcare and Independence Blue Cross.
- If you elect your Medicare supplement plan through the PSERS Health Options Program (HOP), be sure to inquire with them if you qualify for Premium Assistance (currently $100 per month).
Public School Employees’ Retirement System (PSERS), Central East Region Service Center
1-888-773-7748, ext. 5475
Health Options Program (HOP)/ Premium Assistance Unit
Social Security Administration (SSA), West Chester Office www.ssa.gov
1101 West Chester Pike West Chester, PA 19382
Medicare and Medicaid Services www.medicare.gov