Retirement Information
RETIRING? WHAT YOU NEED TO KNOW..
Legacy Plan: If you have 30 years of service OR are 60 years of age with 10 years of service with Elizabethton City Schools.
Hybrid Plan: If you have 35 years of service OR are 65 years of age with 10 years of service with Elizabethton City Schools.
Unsure of what plan you have? Log into TCRS to check your eligibility.
Retirement Eligibility Information:
- TCRS requests that you submit your retirement application 2-3 months prior to retirement.
- Payment of health insurance coverage will be paid for 5 years after your retirement or until the employee reaches sixty-five (65), provided that:
1. The employee is eligible for retirement under the eligibility standards set by the Tennessee Consolidated Retirement System; and
2. The employee was enrolled in the Board-sponsored insurance plan for the appropriate amount of time as per rules set by the State.
- ECS Retirement Bonus:
Certified: $5,000
Classified: $2,500
Unused Sick Days:
- TCRS will give you 1 month of service credit for every 20 unused sick days at retirement. This credit is applied to your years of service with TCRS and increases your TCRS benefit.
- Example: 10-month employees who have 200 sick days within 29 years of service can retire with 30 years' service credit.
OR
- ECS will pay certified staff only a bonus for your unused sick days at retirement: $15 per day.
- Continuing work after 30 years of service does not necessarily increase your TCRS benefit unless you experience a substantial increase in salary.
Forms to be Completes Prior to Retirement:
-TCRS Application for Service or Early Retirement Benefits (Online at www.mytcrs.com)
- Be sure to have your bank routing number, bank account number, and beneficiary information available before you start the application.
- Your retirement date is the day after the last day you are physically in the building and working, unless you turn 60 after the end of the school year but prior to the end of your contract-in that case, it will be your 60th birthday.
- Preparing a Complete Retirement Application
Submit to Human Resource:
- Complete an Intent to Retire Form & Resignation Letter addressed to the Director of Schools if retiring at the end of the school year.
- If you retire at the beginning of the school year, submit the Intent to Retire Form only.
- Provide updated contact information (address, birth date, phone number).
Printable Documents: