Preparing for Retirement
For Retirement Counseling
You can set up an appointment to discuss your Retirement Benefits with a Retirement Coordinator. FCPS has Five (5) Retirement Coordinators available to assist with appointments. To make an appointment, please call 301-644-5100 Monday through Friday from 9am to 4pm EST or email Human Resources.
For Information on Your Maryland State Retirement Agency (MSRA) Pension Plan Benefit
FCPS participates with the Maryland State Retirement Pension system. Eligible active employees are required to contribute 7% of their pay to the pension plan. You will complete an Application for Membership and Beneficiary Form upon hire. These funds are then contributed to your MSRA Pension Plan on your behalf as long as you are working for FCPS. You will receive an annual Pension Benefit Statement each year from the MSRA.
You can access your Pension Benefit Statement; obtain an Estimate of Benefits, Participant Member Handbook, Forms, Videos and other information on the Maryland State Retirement Agency website http://www.sra.state.md.us/ or by calling the Member Service Center.
Office Hours are Monday – Friday 8:30am – 4:30pm EST.
- Toll-free: 1-800-492-5909
- Local: 410-625-5555
- TDD/TTY: 410-625-5535
When you near your eligibility for retirement, it is recommended that you send a request for estimates, Form 9. By doing this, your account with the MSRA is audited, and you receive individualized pension options.
Additional forms that you may need when nearing retirement are Forms 26 & 43. Form 26 is used to purchase previous service from a private school or another county and form 43 allows you to get credit for prior military service. Feel free to contact MSRA Member Services regarding questions completing these forms.
403(b)/457(b) Retirement Savings Plans
FCPS also offers Retirement Savings Plans in addition to the MD State Retirement Pension. FCPS Retirement Savings Plans are to encourage eligible employees to voluntarily set aside a portion of their FCPS pay to enhance their retirement savings or reach other long-term financial goals. Retirement savings programs for employees of public education employers such as 403(b) and 457(b) plans are voluntary programs wherein employees can contribute money to their retirement savings via pre-tax or Roth (after-tax) contributions in the form of a payroll deduction, and that money grows tax-deferred until retirement. You can learn more about how to enroll and who to contact for the 403(b) and 457(b) Retirement Savings Plans.