TRS, SERS and PERS Plan 2 members can choose to join Plan 3 in January
Am I eligible to transfer in January?
Each January, eligible Plan 2 members of Teachers' Retirement System (TRS), School Employees' Retirement System (SERS) and Public Employees' Retirement System (PERS) have the opportunity to transfer to Plan 3. The decision to transfer to Plan 3 is permanent - once a decision is made to transfer to Plan 3, you cannot return to Plan 2.
TRS Plan 2 members who established membership before July 1, 2007 can transfer to Plan 3 if employed in an eligible position and earn service credit in January.
SERS Plan 2 members (without past PERS Plan 2 service), who first established membership before July 1, 2007 can transfer to Plan 3 if employed in an eligible position and earn service credit in January.
SERS Plan 2 members (with past PERS Plan 2 service), who first establish membership before August 1, 2009 can transfer to Plan 3 if employed in an eligible position and earn service credit in January.
PERS Plan 2 members employed in eligible positions at a state agency or higher education employer who first established membership before March 1, 2002; and PERS Plan 2 members employed in eligible positions with a local government employer who first established membership before September 1, 2002 can transfer to Plan 3.
Are new members eligible?
New PERS, SERS and TRS members* make a permanent plan choice within 90 days of hire. If you have a 90 day plan choice then you do not have the option of transferring to Plan 3.
New PERS members are persons hired on or after March 1, 2002 for state agency or higher education employers, and on or after September 1, 2002 for local government employers.
New SERS members are persons hired on or after July 1, 2007, unless they had past service in PERS Plan 2.* SERS members with past PERS Plan 2 service are new members if hired on or after August 1, 2009.
New TRS members are persons hired on or after July 1, 2007.*
* If a court of law decides the repeal of gain sharing is invalid, new SERS and TRS members hired after the court decision will be mandated into Plan 3.
When can I transfer to Plan 3?
| Plan 2 | Employment Conditions | Transfer Opportunity |
|---|---|---|
| TRS | Eligible position before July 1, 2007 and earn service credit in the January you transfer | Each January |
| TRS Substitute Teacher | TRS Plan 2 member before July 1, 2007 and purchasing substitute time | At the time of payment |
| SERS without past PERS service | Eligible position before July 1, 2007 and earn service credit in the January you transfer | Each January |
| SERS with past PERS service | Eligible position before August 1, 2009 and earn service credit in the January you transfer | Each January |
| SERS Substitute without past PERS service | SERS Plan 2 member before July 1, 2007and purchasing substitute time | At the time of payment |
| SERS Substitute with past PERS service | SERS Plan 2 member before August 1, 2009 and purchasing substitute time | Each January |
| PERS | Eligible position and earn service credit in the January you transfer | Each January |
Resources to help with your decision
- Member Handbooks and other DRS publications are available on the Member page.
- Investment education and information is available on the Plan 3 website.
- Copies of the Plan 3 Investment Education materials are available from your employer.
- You can attend an Investment Education seminar. Register online through the Plan 3 website.
- Financial Modeling Software is also available to you. The software will help you compare your projected benefits for Plan 2 and Plan 3 based on your personal situation. You will need your current account balance from your annual statement. Annual statements are sent to TRS and SERS members in November and to PERS members in March. If you need a copy of your annual statement, please contact DRS by phone at (360) 664-7000, 800-547-6657, or by email.
How do I transfer?
Complete a Member Information Form and submit it to your employer during the month of January.