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Rumor Roundup-testtesttest

Hearing ERFC rumors? Wondering if your coworker has it right? Rumor Roundup is here to set the record straight. Dive in to stay informed—we've got some rumors to retire!

Have a question? Submit it below and check back for the answer.

 

Top 3 Roundup

Does unused sick leave count toward service years for Tier 1 and Tier 2?

Yes. Effective July 1, 2024, unused sick leave for Tier 1 and Tier 2 members is converted to retirement credit by the HR payroll office at the time you retire. This is added to your service total and included in your retirement calculation. The conversion is as follows:

Number of hours ÷ Contract days ÷ Work hours per day = Amount of service

Please Note: Once your annual leave maximum is paid out, the leftover annual leave is moved to sick leave and then converted into additional service credit. If you retire from ERFC and transfer sick leave to another county, your ERFC pension will be negatively impacted. As such, you'll be contacted the month following your retirement to recoup the overpayment amount, and your future pension will be recalculated based on the new reported hours of unused sick leave.

Can I choose how much I want to contribute to ERFC?

No. Your contribution to the ERFC pension is set by the ERFC Board of Trustees. 

Each month, three percent of your salary goes to your ERFC pension. Your ERFC contributions are tax deferred. This means that, as an active FCPS employee, your yearly retirement contribution lowers your taxable income.

Interest is added to your account each year on July 1 for contributions that have been in the system for at least a year. The current interest rate is 4%, but this rate may change depending on ERFC's financial status.

Your ERFC pension is funded by three sources: your contributions, FCPS contributions (currently 6.48%), and investment income. 

Are all FCPS employees ERFC members?

No. The type of job you have with FCPS determines if you’re a member. In general, if you're a full-time teacher, educational personnel, instructional assistant, administrative support staff, or technical staff, you're automatically enrolled in ERFC.

Let's Put Those Rumors to Rest

Do I have to wait until I’m 5 years from retirement to meet with someone at ERFC?

No. You can schedule an in-person or virtual Question Session at any stage of your career, whether retirement is close at hand or many years away. Simply call us at 703-426-3900, M-F, 8 a.m. to 4:30 p.m., to set up an appointment.

If you've already submitted your retirement from FCPS HR-2 form in Staff Connect, you can call to schedule a meeting with your assigned retirement specialist for help filling out the online retirement application.

Do all Virginia counties provide a second pension?

No. We're fortunate that Fairfax County Public Schools is one of the few school systems in Virginia to provide a second pension. 

Is participation in ERFC optional?

No. Participation in ERFC is mandatory, so opting out isn't possible.