FCPS retirement Plans

[Anonymous]

Yes, good point. Even if you have 30 in VRS you take a reduced benefit with ERFC if you have not reached 55 years of age. Many teachers, me included, start at 22.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It depends on what plan you have. I was hired in 1999, so I'm on the legacy plan. My pension will be closer to 70% of my highest 3 year average. There is a formula they use that takes into account the years of service, so it's not a straight % calculation but that is a good ballpark number. I contribute about 30% to 403b, 457b and the 2 pensions so my take home should be about the same since those deductions will no longer be taken out. You can go back to work in the county after a year and double dip.

You cannot double dip with the VA portion. If you are still in the state, you cannot work AND collect the state portion. OP’s friend was able to double dip by working in MD. They were both out of the county AND the state.

The true "double dipping" stopped quite a few years ago. People were "retiring" and able to collect ERFC and then remin in Fairfax and work. They no longer paid in the ERFC, collected that retirement and kept paying into VRS. So they kept their salary, benefits, and got the ERFC retirement payment. That stopped maybe 10 years ago or so. Some leave FCPS after 25 and work in another county in VA (Seen quite a few go to Prince WIlliam recently) and collect ERFC and work a new job paying into VRS. After 30 years and 55, some collect it all and get another job out of state if still teaching, private anywhere, or some other job. I think if you retire and come back after a year, you can do so but must work less than 1/2 time with no benefits.