Applying for Retirement
Congratulations! You are either thinking about retirement or have made the decision to retire! While this is a very exciting time, we recognize that not knowing exactly what to do can be overwhelming. So, we have provided helpful information below to assist you with this process. Take some time to look over the important steps and forms you need to complete below. Please contact us if you have any questions.
To apply for retirement, you will need to complete steps for both VRS and LCPS.
Contact the Virginia Retirement System (VRS) About Your Pension Benefits
VRS Member Counselors are trained to help you understand your retirement options, apply for retirement and explain your VRS retiree benefits. Counselors are available, on demand, anytime convenient to you between the hours of 8:30 am and 5:00 pm, Monday through Friday, by calling VRS at 1-888-827-3847. No appointment is necessary for your counseling – so be prepared when you make the call.
Before you call, plan to spend some time reviewing your retirement plan through your myVRS account. Under the Benefit Estimate tab, you can create retirement estimates using different retirement dates and electing different benefit payout options. Additionally, VRS has provided a great resource titled “Applying for Retirement”. Scroll down to the middle of the page to access a video explaining the process and reviewing the forms you need to complete to retire.
We recommend you start the application process at least 60 days, but not more than four months (120 days), before you want to retire. Example: If you wish to retire on July 1, submit your application by May 1.
It is also helpful to understand your LCPS retirement benefits prior to talking with a VRS Member Counselor (see below).
Understand Your Eligibility for Loudoun County Public Schools' Retirement Benefits
Annual Leave and Sick Payout
- Annual leave payout is available for 12-month working employees only.
- Sick leave payout is available to employees who have worked for LCPS at least 10 years prior to submitting the VRS Application for Retirement. LCPS will pay eligible employees 25% of their daily rate (to the maximum) for each day of sick leave earned and accrued at retirement.
- Retiree Bonus payouts are payable to employees who have worked for LCPS at least 10 years prior to submitting the VRS Application for Retirement.
Retiree Health Insurance
- Check your eligibility for Retiree Health Insurance.
- Review Retiree Health Insurance Rates.
- Note: If you or your spouse are Medicare-eligible (ex. 65 or older or Social Security disabled) and elect to enroll in the LCPS Retiree Health Insurance Plan, you are required to enroll in Medicare Parts A & B and submit a copy of your Medicare card prior to your coverage effective date. You should apply for Medicare 90 days prior to your active coverage ending, or as soon as possible. Learn more about the LCPS Cigna Medicare Surround Plan on our website.
When You Are Ready, Complete these Steps and Forms
Apply for VRS Retirement online through your myVRS account.
- VRS Member Counselors are available to answer your questions and assist you with the process.
Submit Your Voluntary Separation through Oracle
- When you are ready to retire, submit your Voluntary Separation through Oracle Self-Service Employee Self-Service. Enter the last workday you intend to work and a reason of “Retirement”. If retiring at the end of the school year, be sure the date you enter is the last date of your contract. This information will be sent directly to your Supervisor for approval and then routed through Human Resources.
Submit Your Retiree Health Insurance Enrollment (if eligible)
- If you are eligible, complete the LCPS Retiree Health Insurance Enrollment/Change Form regardless of whether you are or are not going to elect LCPS health coverage. This form can be submitted either via secure email or via fax at 571-252-1401.
- Apply for Medicare Parts A & B if you or any of your dependents are age 65 or older (or otherwise eligible for Medicare). Start the application 3 months in advance if possible at www.medicare.gov or by calling your local Social Security Office. If you are over 65 you may already have Medicare Part A but you will have to apply for Part B.
Submit a Retirement Payout Distribution Request (if eligible)
- If you are eligible, complete the LCPS Retirement Payout Distribution Request to let us know how you would like your leave and/or bonus payout. This form can be submitted either via secure email or via fax at 571-252-1401.
Complete the Retirement Questionairre
- Complete the optional Retirement Questionnaire. This is optional but helps us create a paragraph about your time with LCPS and what you plan to do in retirement for the annual Retiree Yearbook.
If you have questions about completing the LCPS forms or would like us to review them with you before you submit them, please call 571-252-1810 to schedule an appointment.
- myVRS Account
- Log into your myVRS account and review your VRS payout options. Print off estimates for your records. Review your payout options with your Financial Advisor, if desired.
- Termination of Active Benefits When Leaving LCPS
Welcome to Retirement - Your Benefits
- Review Welcome to Retirement - Your Benefits for information on Retiree Health Insurance and deferring a portion of retirement payouts to 403(b) or 457 plans.
- Basic Life Insurance
- Employer-paid Basic Life Insurance is based on your salary times two. After retirement, your basic life insurance reduces in benefit – See page 25 of VRS publication “Getting Ready to Retire” if you are a VRS Plan 1 or Plan 2 member. See page 21 of the VRS publication "Getting Ready to Retire for HYBRID Employees" if you are a VRS Hybrid member.
- Optional Life Insurance
- Employee paid Optional Life Insurance, if already enrolled at the time of retirement, can be continued after retiring. Ask for a conversion packet - See page 26 of VRS publication “Getting Ready to Retire” if you are a VRS Plan 1 or Plan 2 member. See page 23 of the VRS publication "Getting Ready to Retire for HYBRID Employees" if you are a VRS Hybrid member.
- Working after Retirement
- See page 28 of VRS publication “Getting Ready to Retire.”
- Substituting for LCPS
- You are eligible to substitute for LCPS after a break in service of one calendar month in which you would have worked. For example, if you are retiring at the end of the school year, you can return as a substitute on October 1st of the next school year. Information can be found in the Applying to Substitute with LCPS! flyer.
If you have any questions, please contact Employee Health, Wellness and Benefits at 571-252-1810 to speak to a Retirement Specialist.