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LCPS Retirement Benefits
 
The following benefits are provided to eligible retirees of Loudoun County Public Schools:
  • Virginia Retirement System (VRS)

An eligible LCPS retiree is: an employee who retires from LCPS service AND who immediately begins receiving a retirement from VRS.



Retiree Health Insurance
 
Retiree health insurance is available to eligible retires that were hired prior to July 1, 2013.  

Eligibility rules are based on the following:
 
Current Retiree and Employees who retire on or before July 1, 2014
  • For employees hired prior to July 1, 2009, have 5 consecutive years of full time service with LCPS, which must immediately precede your LCPS retirement year.  You and anyone you wish to cover during retirement must have been enrolled on the LCPS insurance for the 3 consecutive years immediately preceding your LCPS retirement date.
  • For employees hired on or after July 1, 2009, have 10 consecutive years of full time service with LCPS, which must immediately precede your LCPS retirement year.  You and anyone you wish to cover during retirement must have been enrolled on the LCPS insurance for the 3 consecutive years immediately preceding your LCPS retirement date.
Employees who retire after July 1, 2014
  • You must have 15 consecutive years of full time service with LCPS, which must immediately precede your LCPS retirement year.  You and anyone you wish to cover during retirement must have been enrolled on the LCPS insurance for the 3 consecutive years immediately preceding your LCPS retirement date.

LCPS retirees and/or their dependents who are eligible for Medicare parts A&B are offered a Humana Group Medicare PPO plan.  Retirees and/or their dependents who are not eligible for Medicare parts A&B can participate in either a CIGNA POS or OAP plan.


Important Notes:
  • Retirees are not permitted to add dependents after retirement.
  • School Board policy requires retirees and/or their dependents to elect Medicare parts A&B when they become eligible in order to continue health care coverage with LCPS.  Eligibility may be at age 65 or earlier if you are receiving social security disability benefits.  Failure to do so can result in the permanent cancelation of your health insurance through LCPS.

Retiree Salary Supplement
 
Employees who retire with at least 10 consecutive years of benefited LCPS service will receive a salary supplement equal to 0.5% of their final annual salary multiplied by their LCPS years of service.  The amount of the supplement will not exceed $5,000 or be less than $1,000.
 
Example 1:
Employee retires with an annual salary of $50,000 and has 25 years of LCPS service.
 
$50,000 x 0.5% x 25 years = $6,250
Supplement will be the maximum of $5,000
 
Example 2:
Employee retires with an annual salary of $50,000 and has 10 years of service.
 
$50,000 x 0.5% x 10 years = $2,500
Supplement will be $2,500
 

Retiree Sick Leave Benefit
 
Employees who retire with at least 10 consecutive years of benefited LCPS service will receive 25% of their final daily wage for each day of their sick leave balance at retirement.  The maximum dollar value changes annually and is equivalent to 25% of the previous year's average teacher salary for LCPS as reported in the State of Virginia's Annual School Report.  Only earned sick leave will be included.  Sick leave that has been advanced but not yet earned at the date of retirement will be excluded.
 

Helpful Links
 
Virginia Retirement System (VRS)
 
 
For additional information regarding retiree health insurance click here.
 

 
 
 
 

 

Ready to Retire?

Did you know you can calculate your own VRS estimated retirement benefit?  Just go to www.varetire.org to begin!

or

Contact the Employee Benefits Division at 571-252-1240 to schedule an appointment.
 

Need Help Planning for Retirement?

 
Check out the Workshops and Events page to see scheduled retirement planning seminars.
Last Modified on June 9, 2014