Understanding Your Termination Options
If you stop working in education before you're eligible to collect a pension, you have several options for the benefits you've accumulated in the plan.
- leave your benefits in the plan to collect as a pension when you reach retirement age;
- transfer the commuted value of your pension to another retirement savings arrangement; or
- transfer your pension credit to another pension plan with which we have a transfer agreement.
If your contributions after 1986, plus interest, exceed more than half of the value of your pension earned after 1986, you'll receive a refund of the excess.
Note: If you ceased employment in education before July 1, 2001, specific eligibility rules apply. Please contact us for more information on your benefit options.
Think you'll return to teaching some day?
If there's a chance you'll return to teaching, it's best to leave your money in the plan.