Retirement

Retirement Contributions

All employees are required to pay into either the State Teachers Retirement System (STRS) if they are certficated staff, or School Employees Retirement System (SERS) if they are classified staff. These contributions replace the Social Security tax which would normally be paid if working in a private industry. Upon hire, employees are required to fill out a new member application as well as sign a statement of understanding that their job with Columbus City Schools (CCS) is not covered by Social Security. CCS is required to provide both documents paperwork to either SERS or STRS within 10 business days of the employee's hire date.

Required contributions are as follows:

Retirement Eligibility

Employees are eligible to retire from CCS after they have 5 years of service with CCS. However, although they may be eligible to retire from CCS, it does not necessarily mean they have enough "work credits" to qualify to receive a retirement payments of from STRS or SERS. Below are answers to the most frequently asked questions. If the employee has questions beyond what is listed below, please refer them to SERS or STRS, whichever is appropriate. We do not have the expertise to advise beyond the information listed below.

1. What should I do if I'm thinking about retirement?
   1. There are three important steps
      1. If you are a contract teacher or a certficated administrator:
         1. Contact the State Teachers Retrirement System (STRS)
         2. Advised your administrator (or RED) of your intent to retire
         3. Submit to Human Resources in writing a letter of your intent to retire. Be sure to sign the letter.
      2. If you are a classified employee or a non-certificated administrator:
         1. Contact the School Employees Retirement System (SERS)
         2. Advised your department head of your intent to retire
         3. Submit to Human Resources in writing a letter of your intent to retire. Be sure to sign the letter.
2. What needs to be in my intent to retire letter to Human Resources?
   1. Your letter should include:
      1. Your name and signature
      2. Your Employee ID
      3. Your last day of service (the last day of service must be a work day. It cannot be a weekend or a holiday)
3. Who is eligible to retire?
   1. Unfortunately, we do not have the expertise here to answer this question. Our recommendation is you reach out to your retirement system, either STRS or SERS
4. Can I collect severance?
   1. Severance is a percentage of accrued by unused sick days. In order to qualify for severance, you must retire with STRS/SERS within 120 days of your last day of service. Employees are only eligible to receive Severance once (per contract or compensation package agreement), and is typically paid out within 60 days of retirement.
      
      1. Certificated
         1. 50% of the accrued unused personal leave days
      2. Classified Employees
         1. 40% of the accrued unused personal leave days
         2. 25% of the accrued unused sick days in excess of 105 days. A maximum of 120 days will be paid at the 25% rate
         3. 15% of the accrued unused sick days in excess of 225 days
      3. Classified Supervisors 
      4. Administrators
5. What is "Enhanced Severance"?
   1. With enhanced severance (sometimes referred to as "Super Severance") is your accumulated sick leave is paid out at a higher percentage rate, provided you notify Human Resources in advance of your intent to retire.