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Retiring

Members of PSERS who meet certain eligibility requirements qualify to receive a monthly retirement benefit for life. 

Normal Retirement (Unreduced Benefit)

Normal retirement, also known as superannuation or full retirement, is an unreduced DB benefit where all age and/or service requirements are met. If you are vested (see "Becoming Vested"), you may receive a normal retirement benefit when you terminate public school employment and if:

Class Vesting Requirements (You must meet one of the following to be vested)
T-C*
T-D
  • Age 62, or
  • Age 60 with 30 years of service, or
  • 35 years of service regardless of age.
T-E
T-F
  • Age 65 with a minimum of three years of service credit, or
  • Any combination of age and service that totals 92 with at least 35 years of credited service.
T-G
  • Age 67 with a minimum of three years of service credit, or
  • Any combination of age and service that totals 97 with at least 35 years of credited service.
T-H
  • Age 67 with a minimum of three years of service credit.

* Special conditions may apply for those who terminated active PSERS-covered employment prior to July 1, 2001. Contact PSERS for more information.

Early Retirement (Reduced Benefit)

Early retirement is a reduced retirement benefit available to members who do not meet the normal retirement requirements. The chart below identifies the years of service necessary for an early retirement and the retirement factor(s) used to reduce your monthly benefit.

Class Vesting Requirements (You must meet one of the following to be vested)
T-C*
T-D
5 Years of service The normal retirement benefit is reduced by an early retirement factor so that the “present value” of the account is actuarially equivalent. The reduction correlates to how far away the member is from superannuation age. In effect, the member receives less each month because the benefit will be received over a longer period of time​ ​
T-E
T-F

10 years of service

T-G
T-H         
10 years of service​Same factors as above if: (1)retiring between age 62-67; or (2) any age below age 62 if 25 years of service If retiring prior to age 62 with less than 25 years of service, then the current reduction factor from age 62 to 67 plus a different reduction factor from actual retirement age to age 62

* Special conditions may apply for those who terminated active PSERS-covered employment prior to July 1, 2001. Contact PSERS for more information.
**Early Retirement applies to only the DB component of a Class T-G or Class T-H member’s benefit.

Special Early Retirement

For Class T-C, Class T-D, Class T-E, Class T-F, and Class T-H members, a special early retirement is available if you are at least age 55 and have 25 or more years of credited service (“55/25”). A “55/25” retirement is reduced by one quarter of one percent per month for each month you are under normal retirement requirements.

Class T-G members, have a special early retirement available if you are at least age 57 with 25 years of service.      

Disability Retirement

To apply for a PSERS disability retirement benefit, you must have at least five (5) years of credited service with PSERS.  There are more eligibility requirements to apply for a disability retirement.  Click here for more disability retirement information. 

Steps to Retirement

PSERS strongly suggest all members who are planning for retirement complete the following steps:

  1. Make sure to submit any purchase of service (POS) request, if applicable.  Only actively working members of PSERS are eligible to purchase service credit.  Once you terminate PA public school employment it will be too late to purchase service credit.

  2. Attend a Foundation for Your Future Program.  The PSERS Foundations For Your Future (FFYF) programs are designed to give public school employees an overview of their retirement benefits.  These programs provide all active members with general information about PSERS' benefits and services. Attendance at a Foundations for Your Future Program will help you begin to plan for your retirement early in your career.  Each program lasts approximately 90 minutes. Click here for the Foundations for Your Future meetings schedule.

  3. Request a PSERS retirement estimate by completing and submitting a Request for Retirement Estimate (PSRS-151).  PSERS will prepare two (2) retirement estimates for members who are retiring within the current school year.  If you are not retiring within the current school year, PSERS supplies two ways for you to prepare your own personalized retirement estimates using the PSERS online system.  Click here to access the Online Retirement Calculator.  A staff-prepared retirement estimate is needed to attend exit counseling        

  4. Schedule a Retirement Exit Counseling session. Exit Counseling is offered as a service to anyone retiring in the current school year. Emphasis at Exit Counseling will be on completion of the retirement application and related forms. The exit counseling sessions will be scheduled to accommodate a small group.   Click here for a list of all our Regional Offices.

    Bring your staff-prepared estimate and any other applicable paperwork needed to complete your retirement application.  For example, completed Direct Rollover form, direct deposit bank information, beneficiary and survivor annuitant information along with survivor annuitant proof of date.

  5. Notify your PA public school employer(s) of your termination date.  This is a very important step since PSERS cannot begin to process your retirement application without formal reporting of your termination date from all your PA public school employers.