Retirement Benefit Statements Available on New Service: PenPoint
Each fall, eligible MCPS employees receive a statement of retirement benefits containing important financial and retirement service information for retirement planning. The 2014 statements are now available, but employees are able to access it in a new way—on PenPoint, MCPS’s self-service, online retirement system.
The statement shows personal data such as plan membership, the dates you become eligible for normal and early retirement, and projected retirement benefits.
In addition to providing your benefit statement, PenPoint allows employees to view their projected early and normal retirement benefit amounts. Staff could even run their 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. To get there from the MCPS home page, click on the “Staff” link at the top of the screen. Once the Staff page opens, look for the “PenPoint” link under “Quick Links.” Clicking on the link will take you to the Retirement Planning web page. There you will see the PenPoint logo, a login button, and a link to video demonstrations that will show you how to use PenPoint.
To log in to PenPoint, click on the login button, and enter your MCPS username and password. This is the same username and password you use to log in to your MCPS Outlook email account. Once logged in, you will find a tutorial, and a frequently asked questions and glossary guide 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, Monday through Friday, between 8 a.m. and 4:15 p.m., or by e-mail.
Links to a variety of resources to help you save for the future and better understand your retirement planning options are available within PenPoint or on the Retirement Planning web page.
Pre-Retirement Seminar Set for Members of State Core Pension Plan
ERSC will host a one-day, pre-retirement seminar for MCPS employees who plan to retire within two years and who participate in the State Core Retirement/Pension Plan. The event will be held Friday, Oct. 17, from 8 a.m.–4:30 p.m. at the Upcounty Regional Services Center, 12900 Middlebrook Road in Germantown.
While modeled after the pre-retirement seminars held at various venues around the state each year, this session will be customized for MCPS employees. In addition to pertinent pension information presented by a representative from the Maryland State Retirement Agency, session participants also will obtain information ranging from estate planning to financial planning. Participants must register on the Professional Development Online website (course number 74752), as space is limited to 60 employees.
To learn more about retirement planning opportunities, visit the Retirement Planning web page.
Reminder: Next Payday for All Employees is October 3
Just a reminder that in order for nine- and 10-month employees to receive a full paycheck sooner, all employees were paid on Sept. 5 and Sept. 12. The regular biweekly pay period schedule will resume on Friday, Oct. 3. (Sept. 26 is not a payday.) Please remember this and plan ahead for the return to the regular pay schedule.