Category Archives: Member

The Office of the State Actuary prepared this example to assist DRS with developing a general educational resource.  We caution against using this hypothetical illustration for other purposes, including personal financial planning, because (among other limitations) it’s based upon 2023 market conditions and relies on a simplified model.  The high-level takeaways also change with different…

Is it better to retire at the beginning of summer or at the end? When it comes to retirement for teachers and school employees, a few months can have a big impact. Before deciding on the month you want to retire, you need to understand how Cost-of-Living Adjustments (COLA) and the Public Employees Benefits Board…

If you’re interested in pension-related legislation, sign up below to receive an email alert when we update our Pension-Related Legislation page. We expect to send updates weekly, but we may send more or less frequently depending on how bills move through the legislative process. As part of this list, you might also receive a few…

The retirement plan you choose is permanent. There is an exception for active customers who joined Plan 2 before a certain date. Each January, eligible members of Plan 2 can choose to make a permanent transfer to Plan 3. TRS Plan 2 Transfer to Plan 3 PERS Plan 2 Transfer to Plan 3 SERS Plan…

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…