Transition to Service Retirement
Disability Retirement recipients are required to transition to receiving Service Retirement benefits. For recipients who were first employed on/after October 16, 1992, this transition occurs once their full benefit amount (benefit available without beneficiary designation) under Service Retirement equals or exceeds their Disability Retirement benefit. Members who were employed in a MainePERS covered position on or before October 15, 1992 and continued employment after that date, are required to transition to service retirement once the service retirement benefit equals or exceeds the disability retirement or the recipient is 10 years past their normal retirement age, whichever occurs first. Those who were employed on October 16, 1992 were given the opportunity to choose between these two requirements via a one-time election process. The date at which this change is expected to occur is calculated when your disability benefit is finalized and will be communicated to you at that time.
As the date approaches, MainePERS will provide you with a Service Retirement Estimate. This estimate provides nine different monthly benefit options, many of which provide for ongoing benefits to your designated beneficiaries upon your passing. An application for benefits will accompany your estimate. This application must be returned prior to the effective date of your change in order to avoid any interruption to your monthly benefit. For example, if you are scheduled to transition to Service Retirement effective January 1st, you must submit your completed application no later than December 31st.
Voluntary Transition to Service Retirement
A disability recipient may choose to stop receiving their disability benefit in order to begin drawing their Service Retirement benefit. This option is available to those who have met the eligibility criteria of their retirement plan. Transitioning to a Service Retirement date prior to the date calculated by MainePERS may result in a smaller monthly benefit amount. However, service retirees are not required to file an Annual Statement of Compensation (ASC) and are not subject to earnings limitations. This transition is permanent. If you would like to discuss this option further, please contact MainePERS at (207) 512-3100.