SERS (State Employees' Retirement System)
Call the following to find out about your retirement options:
- The SERS Office at 814-863-6506. Address: 2525 Green Tech Drive, Suite AA, State College, PA 16803. If you are calling from a campus phone, you will need to dial 8 + 863-6506 since it is not located on campus. Office hours are 8:00 A.M. - 4:30 P.M. Monday thru Friday.
- The University Benefits Office at 814-865-1473. This office is located in 205 Rider Building and handles the health and other benefits upon retirement.
- Retirement income calculator for SERS employees.
The TIAA/CREF office at 1-800-242-2010
The University Benefits Office at 865-1473. This office is located in 205 Rider Building and handles the health and other benefits upon retirement.
More information on both systems can be found at http://ohr.psu.edu/benefits/retirement
Phased Retirement Policy
The University has a phased retirement policy. With the approval of their department head and dean, faculty can shift to a part time appointment, usually no less than one-half time, for a fixed period up to three years. Faculty can take advantage of this option whether they are in SERS or TIAA-CREF. Further details can be found on the OHR web page at http://guru.psu.edu/policies/OHR/hr29.html.
Note that faculty taking advantage of this policy who have grant funding should include information in their proposal about their plans for handling their grant funding. Some additional summer salary from their grant may be taken. Faculty may also buy out a proportion of their phased retirement salary using their grant funding. Supplemental compensation during an academic year must be approved by the dean and permitted by the sponsor. The dean’s approval will be granted only if all of the appointment has been bought out.