What is vesting?
Vesting is your right to the money contributed to your pension plan by your employer. Once you become vested, you’re entitled to receive a pension benefit when you retire. You’ll receive a monthly check for the rest of your life, even if you’ve left public employment. In Washington state this benefit is considered a contractual right.
In order to receive these funds, you must be fully vested. So how do you become vested? Vesting is earned after achieving the required number of service credit years for your plan. For Plan 1 and Plan 2 members, you become vested upon reaching 5 years of service credit. The vesting requirements for other plans are slightly different.
For Plans 1 and 2, your entire retirement contributions go toward your pension. If you leave employment before you are vested, you are entitled to any funds you put into your retirement, but none of your employer’s contributions.
Plan 3 members contribute all of their funds to a separate investment account. Upon leaving public employment, all non-vested Plan 3 members are entitled to all of their investment account funds.
The service credit you earn toward vesting is cumulative, provided you don’t withdraw your retirement contributions. This means if you leave but later return to public service, your original service credit balance remains in place for you to build on.
For Plan 1 and Plan 2 members, withdrawing your contributions when you separate will set your service credit years to 0. Withdrawing your contributions does not impact your service credit if you are a Plan 3 member.
How much your pension will be depends on your length of employment and your salary. You can sign into your online account access at any time and use the calculator to estimate your retirement income.
Service credit years to become vested by plan:
DRS plan vesting requirements
| Plan | Vested with | OR | OR |
|---|---|---|---|
| PERS 1 | 5 service credit years | ||
| PERS 2 | 5 service credit years | ||
| PERS 3 | 10 service credit years | 5 years SC with at least 12 months earned after age 44 | 5 years SC earned in PERS 2 before June 1, 2003 |
| TRS 1 | 5 service credit years | ||
| TRS 2 | 5 service credit years | ||
| TRS 3 | 10 service credit years | 5 years SC with at least 12 months earned after age 44 | 5 years SC earned in PERS 2 before June 1, 2003 |
| SERS 2 | 5 service credit years | ||
| SERS 3 | 10 service credit years | 5 years SC with at least 12 months earned after age 44 | 5 years SC earned in PERS 2 before September 1, 2000 |
| LEOFF 1 | 5 service credit years | ||
| LEOFF 2 | 5 service credit years | ||
| WSPRS 1 | 5 service credit years | ||
| WSPRS 2 | 5 service credit years | ||
| PSERS 2 | 5 service credit years |
