If you’re a new public employee, school employee or teacher, you have 90 days to choose between two retirement plans: Plan 2 or Plan 3. The decision you make is permanent, but don’t worry; we have the resources you need to help you select which plan is right for you. Choose a plan – See…
Category Archives: Member
Good news: You have a lifetime pension!
We often get calls from members and retirees who are worried that their pension benefits will run out. In today’s financial climate, it’s no wonder. The good news is DRS plans are designed to last through your lifetime. Bev Hermanson knows this very well. “I have always been aware that my retirement payments will last…
New administrative factors for 2027 now available
Administrative Factors for 2027 are now available. These factors will apply to new retirements with an effective date of Jan. 1, 2027, or later. Administrative factors are determined by the Office of the State Actuary and are based on demographic and actuarial data. DRS uses administrative factors to calculate benefit adjustments. These adjustments are applied…
Leaving employment before vesting – rollover or withdraw?
If you’re a Plan 1 or 2 member of a DRS-covered public retirement system and you leave employment before becoming vested, or eligible to receive a pension, you generally have four choices: Option 1: Leave your contributions If your account balance is more than $1,000, you can leave your contributions with DRS after separating from employment,…
Paycheck increase allows for more savings
At the end of July, state employees may notice a 2% increase to their paycheck. This increase is thanks to legislation that passed in April 2025 and is intended to help you with the cost of inflation. One of the best things about getting a paycheck increase is that it gives you more flexibility with…
Be wary of elder fraud scams
As part of the stages of life, many of us find ourselves caring for elderly family members. It can be a stressful, challenging endeavor in the best of times. It’s especially troubling if an elderly family member becomes the victim of fraud. June is Elder Abuse Awareness Month and to help raise awareness of elder…
Public Records Request for Retiree Information – Foy
Only retired members who served as Washington educators or within the Washington education system are affected by this notification. The Department of Retirement Systems has received a public records request from Morgan Foy, including a signed Declaration of Non-Commercial Purpose: Requestor information Foy requested the following information about members who receive monthly payments: Per Washington’s Public Records…
Your retirement countdown: simple steps at 5 and 15 years out
It can be difficult to determine the steps to get ready for retirement. This simple timeline highlights key steps to help you stay on track. Some retirement plans like LEOFF and WSPRS allow for a full retirement benefit at age 53 or 55. PSERS uses age 60. Others, like PERS, TRS, and SERS, use age…
Public records request
This notification only affects retired members. The Department of Retirement Systems has received a public records request from Erin Raasch of American Transparency for the following information about members who received monthly payments in 2025: Per Washington’s Public Records Act, these records are not exempt from disclosure, so DRS must share this information with the…
DCP tax savings go a long way
Taxes are known causes of headache, nausea and anxiety. But when you save with the Deferred Compensation Program (DCP) there are actual tax benefits that can cure your taxation woes. Well, at least a few of them! Here’s how taxes affect your DCP savings: The DCP – Deferred Compensation Program webpage has more tips and…
