Retirement Options - when an employee begins planning for retirement, the Retirement Division will provide the appropriate estimate of benefits. Health Insurance Benefits - may continue from active employment into retirement with the premium withheld from the monthly pension check. Direct or electronic deposits of the monthly check is available. Vermont State Employees' Credit Union withholdings may also be authorized from the retirement check. Payment of the pension is monthly, payable on the last business day of each month for that month.
Retirement can occur on the first of any month only.
Employees are encouraged to work through the end of the month prior to the retirement date. For example, if you retire January 1, termination must occur no later than December 31. Previous Vermont employment, certain military credit, employment in another state, public or private teacher service, and transfers between the Teacher's Retirement and Municipal Employees' Retirement System are a number of the ways in which a member may purchase credit. Certain military credit may be granted. All benefits are subject to the interpretation and provisions of 3 VSA Chapter 16.