Retirement Information
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Certified employees are able to go to Tennessee Consolidated Retirement System's site to download annual statements and retirement information based on years of service as well as many other self-service options. You can view instructions for these self-service options here.
Frequently Asked Questions
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How do I receive early retirement benefits?
Employees may submit an application for Service or Early Retirement Benefits through the TCRS website. Employees will need bank information, tax information, and to choose an option for how they wish to be paid retirement funds. If employees are under 65, they will need to fill out a form called Continue Insurance at Retirement. Once an employee turns 65, they are no longer eligible for health, dental, or vision insurance. These employees are eligible for Part B Medicare coverage called POMCO or the Tennessee Plan. These changes may be made by contacting Susan Angus at sangus@gcboe.us or 931-363-4558 ext. 2101
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What if I have retired but want to work again?
If an employee retires and decides they want to work again, they have to fill out a Temporary Employment Report. Salary Limitations are listed on Page 2. This is more commonly referred to as the 120-day contract. They will receive 63% of their former salary the first year, and the chart explains going forward. This form may be completed by Susan Angus. You may contact her at 931-363-4558 ext. 2101 or by emailing sangus@gcboe.us.
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What if I leave before I am eligible for retirement?
If an employee leaves before they are eligible for retirement, they have the option to withdraw their contributions or leave them in TCRS. If they withdraw their funds, there is a 30% penalty, and they only receive what they contributed. They do not get what Giles County paid in or the interest. They can roll over their contributions into an IRA and not lose any of their contributions. This can be done by completing an Application for Refund of Accumulated Contributions with Susan Angus.
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What if I want to change my retirement beneficiary?
An employee can change their beneficiary at any time by completing an Active Member Change of Beneficiary form. Employees can do this online through the TCRS site or by contacting Susan Angus at sangus@gcboe.us or 931-363-4558 ext. 2101.
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What is the difference between a legacy and hybrid employee?
Anyone hired after 2014 is a Hybrid teacher. Those hired before are Legacy teachers.
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I'm close to retirement. How do I need to plan?
Use this Retirement Planning Checklist to help you plan and by contacting Susan Angus at 931-363-4558 ext.
