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Category Archives: Member
Twenty years might be your retirement milestone moment
Why does 20 years matter? DRS pension plans are vested, or provide a guaranteed benefit, after 5-10 years of public service. So why are we talking about 20 years? Well, your service time is an important part of pension formulas.It takes time to build up the years of service needed to have a substantial pension…
How to make your plan choice
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…
DCP and Plan 3 investment costs reduced in 2025
Every summer, we post annual fee changes for DCP and Plan 3 investments. Fees are based on the cost to manage the investments and vary by fund type. DRS investment options are provided by WSIB (Washington State Investment Board). To view the updated fee tables or find out more about fees, visit the investment section…
Are you considering working after retirement?
Thinking about returning to work after retirement? Keep in mind there are rules that apply to DRS retirees if you wish to return to work and continue receiving your retirement benefit. If you return to work for a non-DRS employer: Your benefit is not affected.Examples of non-DRS employers include local businesses like a coffee shop or grocery store. …
Do you have unclaimed funds?
Unclaimed funds are money or assets that are owed to you that you didn’t collect or that didn’t get refunded to you. Retirement contributions If you’re a former a public employee but didn’t become vested, you may have money remaining in your retirement account. Use the DRS inactive accounts search tool. If you’re still employed…
How to make the most of your unused leave
If you’re getting ready to retire, or considering leaving public service, there’s a good chance you have a balance of unused leave. You may have the option to cash-out this leave, but you’ll still have to pay the taxes on the extra income. Luckily, some employers allow you to roll over leave into your DCP…
Member contribution rates approved
Member contribution rates have been approved by the legislature and signed by the governor for the 2025-2027 biennium. Rates for most plans are effective on July 1, 2025. Rates for TRS and SERS will go into effect on Sept. 1, 2025. 2025-2027 member contribution rates Member and employer contribution rates for Washington’s retirement systems are…
Paycheck increase allows for more savings
At the end of July, state employees under PERS may notice a 3% 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…
COLA vs benefit indexing
Your pension is designed to grow over time to help keep up with inflation. All Plan 2 and Plan 3 retirees are eligible for a cost-of-living adjustment (COLA) every July. However, only Plan 3 and LEOFF 2 members can qualify for benefit indexing, which helps your pension grow with inflation before you retire. Here are…
