Retirees & Retirement Information
If you are considering retirement, there are a number of steps to follow:
- Contact PERS (601.359.3589) 90 days prior to your retirement to make sure your dates match what PERS has on file. (If you have ever worked for another school district or state agency, be sure you ask PERS about any unused leave).
- Complete a resignation letter and give it to your Principal, Director or Supervisor for his/her signature.
- Send the original signed resignation letter to RCSD Human Resource Department.
- Complete PERS Form 9A (you can access this form at the PERS website).
- Schedule an appointment with RCSD Benefits Specialist, Chelsea McCrory 601-825-5590.
Rankin County School District provides equal employment opportunities without regard to age, gender, race, religion, disability or national origin.
Mississippi Deferred Compensation Plan & Trust
The Mississippi Deferred Compensation Plan & Trust is offered through the Mississippi Public Employees' Retirement System (PERS). This is a supplemental retirement savings plan authorized under Section 457 of the Internal Revenue Code and enacted by the Mississippi State Legislature. Contributing to the Mississippi Deferred Compensation (MDC) plan can be a smart way to help you achieve your retirement income goals. If you participate in MDC, you probably already know MDC offers benefits like competitive fees, automatic paycheck deductions, and a wide choice of quality investment options. But did you know that IRS regulations limit how much you can contribute to MDC each year? The IRS has announced the annual contribution limits for 2019 are $19,000 or 100 percent of your includible compensation (as defined by MDC and the Internal Revenue Code), whichever is less. The age 50+ catch-up contribution remains the same at $6,000 in 2019. This creates a possible maximum contribution of $25,000 if you are age 50 or older during the 2019 calendar year. The special catch-up contribution amount has increased in 2019, which means you can potentially contribute up to a maximum of $38,000 to MDC. Are you up for the challenge? If you would like to change the amount you contribute to your future retirement income, log in to your account at www.mdcplan.com. Click on My Account to view your 2019 contributions and make changes to your current contribution amount.
For more information, contact LaTaura Wilson, MS Deferred Compensation's Retirement Plan Counselor via email at firstname.lastname@example.org or at 769-610-5753.
Note: If you are eligible for both the age 50+ catch-up and special catch-up, you may not take advantage of both in the same calendar year.
Variable Annuity Life Insurance Company (VALIC)
Variable Annuity Life Insurance Company (VALIC) is a Tax Sheltered Annuity. Tax Sheltered Annuities (TSA) make it possible for an employee to defer a portion of their income for taxation after retirement. The tax advantages, plus plan features and benefits, make a 403(6) plan with VALIC an ideal way to help accumulate funds for your retirement. Pretax contributions When you participate in a 403(6) plan, you contribute by convenient payroll reduction before federal income tax withholding is calculated. This helps reduce your currently taxable income so you can save dollars for retirement that otherwise would have gone to pay income taxes. Roth after tax annuity offers a way a way to set aside after-tax money and, after five years, make tax-free withdrawals of principal, interest and earnings if certain conditions are met. Our contact for the district is Jane Mapp. She is a financial advisor and can answer your questions. Her email is Jane.Mapp@AIG.com and phone number is 601-715-5827.
Click www.valic.com to learn more.