DRSN 09-017, SB 5303 PERS to SERS Auto Transfer

DRS Notice

  • Notice No.: 09-017
  • Date: August 26, 2009
  • Applies to: PERS, SERS Employers
  • Subject: SB 5303 PERS to SERS Auto Transfer

The 2009 Legislature passed Senate Bill (SB) 5303 which ends the automatic transfer of prior Public Employees’ Retirement System (PERS) Plan 2 service credit to the School Employees’ Retirement System (SERS) Plan 2.

Previously converted accounts:

Beginning September 1, 2009 through November 30, 2009, current and inactive members of SERS Plan 2 who had PERS Plan 2 service auto transferred after September 1, 2000, may request in writing to have that service credit moved back to PERS Plan 2. The member must not have earned the service credit with a school district or educational service district before the transfer and must not have transferred to SERS Plan 3 or PERS Plan 3.

Eligible members will be notified of the election window:

All eligible members will be notified in August 2009 of the upcoming election window. They will receive an informational letter and an election form to transfer their prior PERS Plan 2 service back to PERS. They must complete and return the provided form to Department of Retirement Systems (DRS) if they elect to transfer their service credit back into PERS Plan 2.

How this affects employer reporting:

New SERS members hired on or after August 1, 2009 with prior PERS Plan 2 history will now be recognized as newly hired SERS Plan 2 members with plan choice rights.

Questions?

If you have any questions regarding this DRS Notice, please contact Employer Support Services at (360) 664-7200, option 2, or 1-800-547-6657, option 6, option 2; or email us.


George Pickett
Assistant Director of Administrative Services

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