Member News
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Automatic email notifications of DRS website updates
To help you stay connected to the latest retirement information available, we’re introducing a free digital subscription service. The service allows you to voluntarily opt in for automatic emails when items on the DRS website change or when new information becomes available. The only information that’s required from you is your email address. After you sign up, you can change your subscription details or cancel the service at any time.
How it worksEvery hour, the service checks the DRS website to see what’s been updated and sends emails to people who have signed up to receive notification (for example, an update to the PERS Plan 2 handbook or a new edition of the Outlook newsletter). As a subscriber, you can tailor the frequency you wish to receive notices: immediately upon posting, daily, weekly or monthly (please note that the page you select may not be updated at each of those intervals, depending upon the topic).
It’s easy to use – with just a few clicks you can sign up for updates on a variety of topics including, news and announcements, job openings and legislation impacting retirement. And as you browse our website, you’ll notice that individual articles also feature a link reading, “Email me when this page is updated.” Clicking on this link will enable you to subscribe for updates to that particular page and topic.
Subscribe nowIf you are interested in receiving updates from DRS, go to https://public.govdelivery.com/account/WADRS/subscribers/new and type in your email address to get started. You can also visit our homepage any time at www.drs.wa.gov and look for the link and envelope icon at the top of the page. Once you click on the link, you can start creating your personalized list of subscription options.
Subscription benefits- Quick email notification: Know as soon as a publication or news article becomes available or has been updated on the DRS website
- Individual: Sign up only IF you want to; cancel your subscription any time
- Customizable: Offers a list of our retirement plans, systems and topics to choose from at sign up that you can change any time
- Automatic: Once you establish a subscription profile, you will automatically receive updates without having to check the DRS website for changes
We value your privacy. Email updates are a free service provided by the Department of Retirement Systems. Your email address will only be used to deliver the information you have requested and allow you to access your account.
Annual Retirement Statements Now Available For Those Who Work in Education
Your 2010-11 annual retirement statement is now available! If you’re a member of one of the following retirement systems, just log into your online account by selecting “Defined Benefit Access” from the myDRS menu on the DRS website homepage to view and/or print a copy of your statement.
- Teachers’ Retirement System (TRS)
- School Employees’ Retirement System (SERS)
- Public Employees’ Retirement System (PERS) members who are employed by higher education institutions (and PERS 1 members who are employed by a school district)
If you haven’t created an online account, why not register now? It’s easy, secure and will only take a few minutes. Just select “Defined Benefit Access” from the myDRS menu and click the Go button.
If you need assistance, call DRS at 1-800-547-6657.
Plan 3 members receive a quarterly statement that details their contributions and account balance. So, annual statements for Plan 3 members provide only service credit information. If you have questions about your account balance, please contact ICMA-RC at 1-888-711-8773.
Annual statements for all other employees of DRS-covered systems will be available in March.
Contribution rates are changing for most plan members
If you’re a member of PERS Plan 2, WSPRS Plans 1 or 2 or PSERS Plan 2, your contribution rate will change July 1. If you’re a member of TRS Plan 2 or SERS Plan 2, your contribution rate will change September 1.
Read more on page three of the latest Retirement Outlook newsletter.
Social Security Webinar
The Social Security Administration has a free webinar titled “Social Security 101: What’s in it for me?” The webinar covers disability and survivor insurance, financing principles of the program, how workers and their families qualify for coverage, and steps to plan and save for the future. You can sign up here.
How Contribution Rates are Established
In odd-numbered years, pension contribution rates take effect July 1 (PERS, PSERS, LEOFF) and September 1 (TRS, SERS). Contribution rates are the rates members and employers pay for retirement plans.
The Legislature can enact benefit changes when it convenes each year, and any changes they make may alter the funding status of the retirement plans. When a new law changes a benefit, a supplemental rate is developed and applied to cover funding.
Supplemental rates typically become effective September 1, but rates may change at different times or more than once based on effective dates for new legislation.
If you’d like to learn more about contribution rates and how they’re established, visit the Office of the State Actuary’s website.
FDIC warns of e-mail scam
The Federal Deposit Insurance Corporation (FDIC) has received reports of a fraudulent e-mail that appears to have been sent from the FDIC.
The subject line states: “Check your Bank Deposit Insurance Coverage.” The e-mail tells recipients they have been sent the message because the FDIC has taken control of their bank’s assets. It then directs them to a Web site to open a “personal FDIC Insurance File.
The FDIC warns that the e-mail and associated Web site are fraudulent. You can find further information at: http://www.fdic.gov/consumers/consumer/alerts/index.html.
Leaving or changing a job?
Should you leave or change jobs, our career transitions information can help you understand the retirement account decisions you'll need to make. If you're a PERS member with questions on the impact of temporary layoffs (furloughs) during the 2009-2011 biennium, this summary can help.
Three bills affecting pension rights of domestic partners signed into law
Three bills addressing the rights of domestic partners (including receipt of survivor and death benefits for state-administered pensions) were passed by the 2009 Legislature and signed into law by Governor Gregoire. They are:
- House Bill 1445, which is specific to the Washington State Patrol Retirement System;
- House Bill 1616, which is specific to the Law Enforcement Officers' and Firefighters' Retirement System; and
- Senate Bill 5688, which would apply to all retirement systems.
House Bills 1445 and 1616 take effect at the end of July 2009. The portions of Senate Bill 5688 that affect public employee pensions will be effective January 1, 2014.
Additional Early Reduction Factors available for PERS, TRS and SERS Plan 2 and 3 members
PERS, TRS and SERS Plan 2 and 3 members who are at least 55 and have at least 30 years of service credit have a choice between the three-percent reduction factor and the 2008 Early Retirement Factor (ERF). A 62-year-old member with 30 years of service can retire with no benefit reduction.
The choice between factors became effective July 1, 2008 for PERS Plan 2 and 3 members and September 1, 2008 for TRS and SERS Plan 2 and 3 members. Those who use the 2008 ERF to retire have stricter return-to-work rules. Returning to work for a public employer before age 65, will stop their pension. This includes any work performed under a personal service contract, as a temporary or project employee, or under any other similarly compensated relationship with a public employer. Read the FAQ.