Early Notification of Retirement Incentive Frequently Asked Questions
Human Resources, February 12, 2020
Q: What is the early notification of retirement incentive?
A: The early notification of retirement incentive is as simple as it sounds—you will receive a one-time payment for notifying the Frederick County Public Schools (FCPS) of your July 1, 2020 retirement. For notification by March 1, 2020, you will receive a $500 incentive as part of your June 30th pay, and for notification by April 1, 2020, you will receive a $200 incentive.
Q: Why is the incentive being offered?
A: The incentive is being offered for a couple of important reasons. Early retirement notification allows FCPS to: (1) fill vacancies with internal transfers, employees returning from leave, and/or new applicants; (2) resolve staffing challenges in a timely fashion, and (3) forecast salary costs for the FY 2021 more accurately.
Q: How do I notify of my decision to retire by July 1, 2020?
A: Notification of your July 1, 2020 retirement is easy. Simply complete and email the linked Status Change Form to email@example.com by March 1, 2020, to receive the $500 incentive, and by April 1, 2020, to receive the $200 incentive. If you elect to send your form by mail or courier, it must be received in HR by one of the deadlines.
Q: Am I eligible if I have already submitted my retirement paperwork prior to the incentive’s announcement?
A: Yes. If you have already submitted your retirement paperwork with a July 1, 2020 effective date prior to the incentive’s announcement, you will automatically receive a $500 incentive as part of your June 30th pay.
Q: Is submitting written notification all I need to do for my retirement?
A: No, the Status Change Form is strictly a FCPS document. Your next step should be to schedule an appointment with an HR retirement coordinator. During your meeting, you will review your pension options and finalize all State of Maryland retirement documents. All paperwork must be completed prior to June 1, 2020.
Q: How should I prepare for my meeting with an HR Retirement Coordinator?
A: You should begin by reviewing retirement information on FCPS’ website, which can be found at http://www.fcps.org/benefits. If you have not yet done so, you will want to request an “Application for an Estimate of Service Retirement Allowance” from the Maryland State Retirement Agency at https://sra.maryland.gov/member-forms. It is not a requirement that you have received this estimate in order to submit a Status Change Form for the incentive.
Q: How do I schedule an appointment with an HR Retirement Coordinator?
A: Scheduling an appointment is also easy. Contact Ashley Joujoute, HR Receptionist, by email at Ashley.Joujoute@fcps.org or phone at 301-644-5100.