This handbook explains your rights and benefits under Plan 1 of the Washington State Public Employees’ Retirement System (PERS). The plan is a 401(a) and is designed to be an important source of income that, along with Social Security benefits (if you are eligible), personal savings, and other investments, will help pay your living expenses when you retire.
PERS Plan 1 highlights
- The plan provides a lifetime benefit.
- The plan provides disability retirement benefits and survivor benefits if you meet the requirements.
- You and your employer both contribute toward your future benefits.
- You may remain a member of the plan if you transfer to another PERS-covered employer.
- Your contributions are refundable only if you leave PERS-covered employment. If you withdraw your contributions, you lose your right to future benefits. However, under certain circumstances you may restore your withdrawn contributions
and reestablish your benefits. You cannot withdraw contributions made by your employer.
- If you are a dual member of PERS and another Department of Retirement Systems (DRS) retirement plan, you may be able to combine service credit in order to qualify for retirement.
Inform your employer of previous PERS membership
It is important that you tell your employer if you have any prior membership, even if you withdrew your contributions.If you wish to change your beneficiary, ask your employer for a Beneficiary Designation Form or download the form and submit the form to DRS.
Elected or Governor appointed officials, city managers, chief administrative officers of a county, port district, or public utility district have the option to become a PERS member. They must contact DRS to elect membership, even if membership was previously established.
When should I start planning for retirement?
Planning for retirement is an ongoing process. The sooner you start, the more likely you are to enjoy a comfortable and successful retirement. Here is a simple thing you can do to help build your retirement plan:
- As early in your career as possible, attend one of DRS’ Retirement Planning Seminars. These full-day sessions feature qualified speakers on a number of retirement subjects and are free of charge. The dates and locations for these seminars are announced in the member newsletter, Retirement Outlook.
