|Employees Hired on or Before June 30, 2011||Employees Hired on or After July 1, 2011|
|Vested retirement after five (5) years of service||Vested retirement after ten (10) years of service|
|After vested, guaranteed monthly benefit for life at retirement age||After vested, guaranteed monthly benefit for life at retirement age|
|Eligible for full service retirement at age 62 with at least 5 years of eligibility service or with 30 years of service||
Eligible for full service retirement with at least 90 years of combined age and years of eligibility service. For example:
|Early retirement at age 55 with 15 years of service (with a penalty of 6% for each year under the age of 62)||Early retirement at age 60 with at least 15 years of service (with a penalty of 6% for each year under the age of 65)|
|Maryland State Retirement-Welcome to the Employees' and Teachers' Pension System (Hired on or before 6/30/2011) - video|
Benefits eligibility in retirement is dependent the employees date of hire and years of service at retirement. Please contact the Benefits office for questions.
This summary is intended only as an overview of the benefits PGCPS offers. The contract governs the administration of the benefits.