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.