If you terminated employment on or after July 1, 2001, with at least 5 years of credited service, and you are under normal retirement age
you terminated employment with 10 or more years of credited service prior to July 1, 2001*, and you are under normal retirement age
...you may elect to vest your account. This means that you will leave your accumulated deductions in the Retirement System Fund, earn 4 percent interest compounded annually, and defer receipt of an annuity until a later date.
When you have vested your account, you become eligible for the following benefits:
A monthly annuity is not automatic. You must make application for an annuity when you reach normal retirement age or at any time before then.
If you are considering retirement, you should fill out the Request for Retirement Estimate and submit it to PSERS.
To qualify for normal retirement under the PSERS guidelines, employees must meet one of three qualifications:
Employees who are not vested (have under five years of service), should contact PSERS at (888) 773-7748 to request an "Application for Refund." You may elect to have PSERS directly rollover your lump sum payment to an "eligible retirement plan" that accepts rollovers.
If you are a new employee, see Important Information for New School Employees.
A disability retirement benefit is an actual retirement benefit. A member who is granted a disability retirement benefit will receive a monthly payment for as long as the member is deemed disabled. Disability retirement requires five years of credited service and medical eligibilty. For more information see PSERS' disability retirement page.
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Phone: 215-400-4680 Fax: 215-400-4681