What you need to know about the Break In Service rule.
In order to have a right to receive your retirement benefit from SPTRFA, Minnesota law requires a “complete and continuous separation for 90 days from employment in any form with Independent School District No. 625.” Importantly, “employment” for this purpose includes “service provided to the school district as an independent contractor or as an employee of an independent contractor.”
Under this rule, for example, employment with Teachers on Call for service as a substitute teacher in District 625 within 90 days of your final date of employment with District 625 would result in a failure of the Break in Service rule. Please be advised that Minnesota law requires the SPTRFA to recover, with interest, amounts received by a member who fails to satisfy the Break in Service rule.
Your Retirement Information has been mailed!
You will receive this mailing if you are actively working with Saint Paul Public Schools and have at least three years of retirement service credit as of June 30, 2015.
A Few Things to Know About Your Estimate
• Your estimate is intended to explain approximately how much you can expect to receive when you first become eligible to draw your SPTRFA benefit (assuming that you continue to work at your current FTE). It also illustrates how that benefit increases the longer you continue to work.
• Please note that these calculations are estimates only – they rely on many assumptions including: retirement service credit, salary, current MN public pension laws, and continued employment with SPPS. Additionally, your current estimate is based upon data reflected in your SPTRFA retirement file as of June 30, 2015.
If you notice a discrepancy or have questions regarding this estimate please email our Member Service team at, Info@sptrfa.org
No, it is not true . . . !
A March 9, 2016 Pioneer Press article incorrectly stated that the St. Paul Public School District is considering reducing payments for “teacher pension benefits” in order to close a budget deficit. As confirmed by SPPS CFO, Marie Schrul, this is not the case. This is not an item up for consideration – SPTRFA will continue to receive its statutorily-required pension contributions from the District.
The complete Pioneer Press article is here: www.twincities.com/2016/03/08/st-paul-public-schools-projects-15m-deficit-in-2016-17/
Notice to our active members
Your SPTRFA lifetime pension benefits, paid at retirement, are earned throughout your career with St. Paul Public Schools. You make biweekly payroll deductions to help fund those benefits.
Good news: Beginning with the 2015 – 2016 school year, the value of your pension benefits will increase as a higher multiplier takes effect. You will see this change reflected in your June 30, 2016 SPTRFA annual statement.
To pay for this benefit increase, your contribution rate will adjust to 7% on July 1, 2015, and 7.5% on July 1, 2016. Contribution rate increases will be shared with the District through 2017.
Thinking of Retiring in 2016-2017?
If you are retiring at the end of school year 2016-2017, we are giving you first priority for a one-on-one appointment with our pension benefit counselors. We strongly encourage you to meet with us prior to submitting SPTRFA application documents.
Before your appointment gain an understanding of the pension benefit application process using the links below:
Important Reminder: You must complete all SPTRFA Retirement Application paperwork and provide the required documentation prior to receiving your pension benefit.