FAQ

Retirement FAQ

When am I vested?

As of July 1, 2001, all FRS Pension Plan members vest with six years of creditable FRS service. Those who were actively employed on July 1, 2001, or were first hired on or after that date, are vested with six years of FRS service. Members who were not actively employed in a covered position with an FRS employer on July 1, 2001, must return to FRS-covered employment for one work year to become eligible for six-year vesting. However, no member will have to work longer than necessary to meet the previous vesting requirement in effect before July 1, 2001.

FRS Pension Plan members initially enrolled on or after July 1, 2011, vest with eight years of creditable FRS service.

When will I receive my first check, if my retirement date is August 1?

Retirement benefits are payable on the last working day of each month. This means you will receive a payment at the end of August if all of the required documentation is received in time for your application to be approved and processed for the August payroll. If not, you will receive a benefit payment as soon as possible after the paperwork is processed.

When will I be eligible for DROP?

You can begin DROP when you are vested and have reached your normal retirement date. See vesting requirements.

What will happen to my sick/Annual leave?

12 month employees get paid 100% of accrued vacation time. Terminal pay for accrued vacation leave may not exceed a maximum of 60 days.
Sick leave payout is based on how many years of service you are retiring from the district with.