Saving for RetirementQACPS offers two savings options for retirement: The Maryland State Retirement Plan and an optional 403b Savings Plan. If you need additional information, please contact our Benefits Specialist, Theresa Steinhice, at 410-758-2403, ext. 227 or email email@example.com.Maryland State Retirement SystemAll employees working 500 hours or more in a school year are enrolled in the Maryland State Retirement and Pension System. New employees are required to contribute 7% of their annual salary to the plan. Benefits include a death benefit which provides payment of 100% of annual salary to one’s designated beneficiary, plus disability and service retirement. For more details on the plan and to download forms, visit the Maryland Retirement website at www.sra.state.md.us.If you are considering retirement, you may wish to attend one of the Pre-Retirement Planning Seminars. Please click HERE for the (NEW) 2020 schedule and registration form. Note: Space is limited for each session so please register early!
403 (b) Tax Sheltered AnnuityThe 403(b) Plan is a voluntary retirement plan that allows full-time employees to save for retirement through pre-tax payroll deductions. To enroll and learn more about your options, feel free to contact any of our approved vendors listed on page 23 of our Benefits Guide.
Thinking about retirement? These Maryland State Retirement video clips will help answer your questions.
- Personal State of Benefits (PSB)
- Employee's and Teachers' Pension System
- Employees' and Teachers' Reformed Pension System
- Leave of Absence
- Leaving Employment
- Disability Retirement
- Choosing an Allowance Option
- Preparing for Retirement
- Unused Sick Leave
- Reemployment After Retirement