Question for PA retired teachers

[Frwinkley]

i am a PA teacher with 10 years to go before retirement. I want to make certain that I am understanding something correctly.

For the heck of it, I went to the PSERS retirement calculator. Am I right in my thinking that I will get a lump sum payment (contributions plus interest), in additional to a monthly pension payment?

I realize there are many different scenarios, options, etc., but right now I am just trying to gather some basic understanding.

 

[Judique]

i am a PA teacher with 10 years to go before retirement. I want to make certain that I am understanding something correctly.

For the heck of it, I went to the PSERS retirement calculator. Am I right in my thinking that I will get a lump sum payment (contributions plus interest), in additional to a monthly pension payment?

I realize there are many different scenarios, options, etc., but right now I am just trying to gather some basic understanding.

Interesting to me as I just retired in another state.
Lump sum was only available (contributions and interest) to someone who left the job before qualifying for retirement, or to beneficiaries in the case of death prior to retirement.
We do have a lump sum payout for unused sick leave.

 

[holden]

PSERS holds information sessions every once in a while. It might be a good idea to attend one and ask the presenter your questions.