Saving for Retirement

    QACPS 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 theresa.steinhice@qacps.org.
    Maryland State Retirement System


    All 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 Annuity


    The 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.