Regular full-time and part-time City employees who work a minimum of 500 hours annually participate in the Maryland State Retirement and Pension System (MSRPS). Participation requires a mandatory contribution of 7% of income for all employees enrolled. The City makes an additional contribution as calculated by the MSRPS.
Details of the plan include:
Full vesting after 10 years of service
Retirement eligibility at age 65 with at least 10 years of service, or age 60 with at least 15 years of service at a reduced benefit
Receive service credit for unused sick leave (visit the MSRPS website for more information)
Ability to obtain estimates of monthly payments upon retirement within one year of anticipated retirement date (requests may take 3 months or longer to process)
For more information, click here to visit the MSRPS website.