February 4, 2023

Have You Reviewed Your 2022 Retirement Benefit Statement on PenPoint?

ERSC Posted On October 10, 2022
0


If you have not already, be sure to review your Montgomery County Public Schools (MCPS) Retirement Benefit Statement, as of June 30, 2022, on PenPoint, the MCPS self-service, online retirement system.

Each fall, eligible MCPS employees receive access to a statement of retirement benefits containing important financial and retirement service information for retirement planning.

On your Retirement Benefit Statement, you will find—

  • plan membership information;
  • eligibility dates for retirement;
  • eligibility and credited service, including purchased, transferred, and military service;
  • projected vested benefits in the event of resignation prior to retirement; and
  • projected benefit amounts at normal and early retirement dates.

If you are a member of the Maryland State Teachers’ Pension/Reformed System (State core plan), you can access your annual retirement benefit statement from the Maryland State Retirement Agency via mySRPS. You can access your MCPS supplemental plan via PenPoint.

In addition to providing your benefit statement, PenPoint allows you to view your projected early and normal retirement benefit amounts. Even better, you can run your own retirement estimates, based on other scenarios, and see the projected benefit amounts and payment options.

Access PenPoint from the MCPS Retirement Planning web page, where you will see the PenPoint logo, a log-in button, and a link to video demonstrations on how to use PenPoint. You also can access PenPoint from Employee Self-Service (ESS) or by searching PenPoint from any MCPS web page.

To log in to PenPoint from the Retirement Planning web page, click on the log-in button and enter your MCPS username and password. From ESS, click on PenPoint under the orange My Retirement banner and log in. Once logged in, you will find a tutorial and a guide containing frequently asked questions and a glossary to further help you navigate the system.

If you have questions about your retirement statement or need clarification on a PenPoint estimate, contact the Employee and Retiree Service Center at 301-517-8100 or by email.