Everything You Should Know About Retiring from Lubbock ISD

Teacher Retirement System (TRS) Eligibility

Obtain a MyTRS log on access, if access is not already established. Employees need this access to run the calculators noted below.
Review the TRS calculators to obtain information relation to:
- Withholding Calculator
- Retirement Estimate Calculator
- Unreported Substitute Service and Calculator
- State Sick/Personal Leave and Calculator
Contact the Texas Teacher Retirement System (TRS) to determine eligibility for a retirement annuity and to request a retirement packet. Retirement planning meetings are held throughout each school year – check the TRS website for more information. (trs.state.tx.us)
- The packet includes information related to the annuity options available, selection of beneficiary(ies), and other important information.
Review the current Annuity Payment Schedule to determine when the 1st annuity payment would be paid by TRS. [Note: Employees should consider when the last Lubbock ISD paycheck will be paid, too.] The Annuity Payment Schedule can be found on the TRS website. Annuity checks are generally issued on the last day of the month.
Review the TRS Withholding Calculator on the TRS website to estimate the net payment after taxes.
Review the TRS Care Summary of Benefits on the TRS website. Determine qualification for plan(s), the benefits provided and the current cost per month.
Submit the TRS 7 form: Notice of Final Deposit (from the TRS Packet) to the Payroll Department

Social Security Eligibility

Not all Lubbock ISD employees pay into Social Security as some only pay into TRS. Reference check deductions to know for certain or contact the Payroll Department.
Potential retirees can contact the Social Security Administration (SSA) at 1-800- 772-1213 for information on possible offsets or reductions to TRS benefits and eligibility. Employees may also visit the Social Security Administration website for information on topics such as the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). [Excerpt from the TRS website.]

Terminating Employment with Lubbock ISD

After gathering information from the TRS and Social Security about retirement benefits, employees should determine the date of retirement.

Before an employee selects a date of retirement:
- Verify with the TRS what date is most advantageous. Note - if possible, employees want to ensure that the last year of TRS wages consists of 12 months of compensation. The compensation for TRS purposes counts from September through August and may or may not match up with the employee work calendar and/or pay distribution.
- If applicable - verify with the SSA the employee worked the required number of months (60) to minimize or eliminate the impact of the offset provisions (GPO and WEP).

The following are considerations as an employee prepares to terminate employment with Lubbock ISD.

Submit a letter of resignation through the Employee Service Center and a copy to the immediate supervisor. The letter of resignation must include the effective date of retirement. It is important to note RETIREMENT through the Employee Service Center and not resignation if an employee retires.
- Resignation from the district should be the last duty day of the work calendar even if the effective date of retirement is before or after the last duty day.
Contact the Payroll Department to discuss the following:
- Leave balance, if any, will be evaluated to determine if the leave taken exceeds the leave earned as of the last employment date.
  - If excess leave, above the amount of leave earned, has been taken, the excess leave taken shall be deducted from the final paycheck.
  - If a leave balance exists in either state sick or state personal leave, the employee will lose the local leave days (refer to the Buy Back Program for possible exception) but will retain the state sick and/or personal leave, if any. This leave shall be recorded on the employee’s Service Record. This leave stays with the employee, even after retirement, and may be transferred to another school district.
  - If at least 50 days of state leave exists, an additional year of TRS credit for retirement purposes could be purchased subject to TRS rules (contact TRS for an estimated cost).
- Leave balance, if any, may be subject to the district’s Buy Back of Leave at Retirement policy.
  - Refer to Board Policy DEC Local and the Leave Buy Back Incentive Program for details regarding the purchase of state and local leave, as appropriate.
  - The amount paid for leave under the Leave BuyBack policy is not considered TRS wages for retirement purposes.
- Non-exempt staff only: Compensatory time balance, if any, will be paid to you on your final paycheck at your last hourly rate of pay, or an average of the past 3 years, whichever is higher in accordance with the FLSA. Accumulated comp time from prior years will not be eligible as TRS wages.
- Non-exempt 226-day staff only: Earned scheduled days off, if any, will be paid to you on your final paycheck at your last hourly rate of pay. Accumulated scheduled days off from prior years will not be eligible as TRS wages.
Payroll deductions for insurance, annuities, organizations, and other voluntary deductions for retirements end the month the employee receives a last check.
- The district health plan & dental may terminate at the end of the month of the employee’s last paycheck. For example, if a teacher completes his/her work calendar and retires in May, his/her health & dental coverage ends May 31st.
- The district-paid group term life insurance plans terminate a month after the employee receives the last check.
- Employee-paid voluntary insurance plans vary, and can terminate at the end of the month of separation or the month after the last check.
- Disability plans are valid only while the employee is actively at work; hence, disability plans terminate on the last day of the month of the employees last check.
- Employee and/or district-paid Flexible Spending accounts will terminate on the last day of the termination month if a deposit was made for that month, otherwise the account may terminate during the month of the final deposit.
- An employee may choose to terminate other voluntary deductions such as annuities, additional tax withholding, etc. at any time.
- Final paycheck disbursement at retirement depends on the retirement date.
  - If employee retires at the end of his/her work assignment:
    - 187, 192, and 197 day employee’s final check in May;
    - 211 day employee’s final check in June as long as the work assignment is completed by June 15th.
    - 226 employee’s final check in June (term completed by June 30th)
  - If employee retires during his/her work assignment:
    - The final paycheck for all employees retiring during their work assignment will be paid the month of the retirement date.
Complete the exit process with the campus or department to include the following:
- Submit district keys, equipment, etc., as appropriate
- Submit all files, such as student records, accounting records, activity funds, etc.
- Contact the Human Resources Department to conduct an Exit Conference to include:
  - Submit employee badge to avoid a non-return charge on the final paycheck
  - Complete an Exit Conference Questionnaire
  - Submit a forwarding address, as appropriate for future communications
- Contact the Technology Department to return district technology equipment:
  - Example: A district issued laptop
Watch for correspondence as noted below regarding potential COBRA eligibility. Group health and dental insurance plans are covered under the federal COBRA provisions.
- Health Care Service Corporation is responsible for sending COBRA information to employees enrolled in any one of the Lubbock ISD medical plans
- Remember that dependents, if any, may be eligible for COBRA benefits, too.

After Retirement through TRS

Review Your Responsibilities as a Retiree on the TRS website. Important reminders include: Keeping a mailing address current, making name changes on a timely basis and keeping beneficiary information up-to-date.
Review the Employment After Retirement brochure to ensure familiarity with potential loss of annuity and/or surcharges if a retiree returns to work.

Instructions for Participants with Medicare to Complete the Application to Re-Enroll in TRS-Care

Frequently Asked Questions

Dental Frequently Asked Questions

When does the Dental year start over?

How long can I carry my dependent children?

What is a Qualifying Life Event?

Gym Claim Frequently Asked Questions

Gym Reimbursement Claim Form

What do I need to submit a claim?

How much will Lubbock ISD reimburse on a gym membership?

Is my spouse eligible?

How long do I have to file a gym claim?

Can I submit for a weight loss program and the gym in the same month?

What if I participate in Weight Watchers and want to claim that instead of the gym?

Maternity Frequently Asked Questions

Does Lubbock ISD have paid maternity leave?

Is there any paperwork I need to complete before I can take off work for maternity?

How late is too late to add my newborn and how do I do it?

Medical Frequently Asked Questions

Who Is Eligible for Health Benefits at Lubbock ISD?

What is a deductible and how much do I have to spend to meet mine?

What does the term ‘out of pocket’ mean and once I satisfy my deductible do I have to pay anything else?

What are copays and do I have any?

What is the difference between ‘In-Network’ and ‘Out-of-Network’ fees, charges or providers?

As an employee new to Lubbock ISD when would my Medical coverage begin?

If I resign or retire from Lubbock ISD when does my medical coverage end? Can I take it with me?

What is COBRA and how can I get it if I want it?

Where can I go to find out information about the Affordable Care Act?

How long can I carry my dependent children?

What is HIPAA?

What does EOB stand for?

When can I make changes to my medical plan?

What is a Qualifying Life Event?

If I have medical through another source can I waive my benefits?

Will I have to pay anything if I see the doctor for Wellness/Preventive services?

Prescription Coverage Frequently Asked Questions

Are any pharmacies out of the Lubbock ISD coverage network?

If I take a prescription each month - do I need to do anything special?

I heard there are free medications?

Qualifying Life Events

What is a Qualifying Life Event?

What proof should I submit with my Qualifying Life Event?

What is the Process for Submitting a Qualifying Life Event?

Who Is Eligible for Health Benefits at Lubbock ISD?

Retirement

June 2021 TRS Newsletter

Retirement Information