Retirement Preparation

  • 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.  Here's how you can get started:

    Complete an LCPS Retirement Information Request Form (When You Are Within 6 months of Retirement).   

    When you are within 6 months of retirement, complete the LCPS Retirement Information Request form. In response to your request, you will receive an email with your next steps. 

    If you are more than 6 months from retirement, you can still follow the steps below to learn about applying for retirement.  

    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 personalized 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 1-888-827-3847No 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). 

    Attend a VRS & LCPS Information Session 

    We have partnered with VRS to make sure you have information about your eligibility for retirement benefits and what you need to do next. We will be hosting two LIVE virtual sessions each month that you should attend to get started and get your questions answered.  In combination, these sessions will provide you with all of the details you need to get started.  Recorded sessions are also available.  

    Click here to choose and register for an information session or view a recorded session.  

    Understand Your Eligibility for Loudoun County Public Schools' Retirement Benefits 

    There are eligibility requirements you must fulfill in order to receive LCPS retirement benefits (sick leave payout, retiree bonus, retiree health insurance). One of those requirements is that you submit an application for service retirement to the Virginia Retirement System to begin receiving your monthly pension immediately upon separating from LCPS.  Please review Policy 7628 to learn details about LCPS Retirement Benefit eligibility.

    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

    • 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)

    • 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 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.

    Important Information

    • 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 
    • 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
      • If enrolled for at least 60 months at the time of retirement, Optional Life Insurance 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. 
    • Social Security and Medicare Benefits
    • Loudoun Retired Educators Association (LREA)
      • All LCPS retirees are invited to join LREA. Lunch meetings are held once a month (September - June) at the LCPS Administration Building. Members are actively involved in many volunteer activities. Annual dues are currently $45 which covers local, district and state dues. Contact Karen Elliot at kmelliott75@gmail.com or Loretta Hall at lohall72@hotmail.com for more information or to join.  
    • Working after Retirement
    • 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. 

Last Modified on February 12, 2024