Once you’ve reached the required age and years of service for your plan, you can apply for your pension retirement through DRS. We have a complete retirement checklist as well as live and recorded seminars to guide you through the retirement process, but basically it goes like this: 1. Make sure you qualify for retirement. Do you meet the age requirements?…
Category Archives: Member
Don’t wait to teach kids about retirement
Retirement is a topic and a mindset our culture tends to reserve for those who are perceived as old enough for it. You know, people with grandchildren, no mortgage payments and a subscription to AARP. The thinking goes, once you meet those standards, then you can start planning for retirement. Why waste today on a…
Think pennies, save more: A simple shift that can enhance your retirement savings
There are two ways to contribute to Washington’s Deferred Compensation Program (DCP). You can choose to invest a set dollar amount every month, or you can opt to invest a percentage of your gross pay. DCP is a savings program, that helps you invest for the retirement lifestyle you want to achieve. One way to…
Strengthening the security of your retirement account
We’re committed to protecting your financial future To provide additional security, we’ve enhanced the way you access your retirement account. Multi-Factor Authentication (MFA) is required each time you log in. Why the change? MFA is an extra layer of protection confirming it’s really you accessing your account. This simple step helps safeguard your retirement savings…
2025 Pension-Related Legislation
During the 2025 session, DRS tracked bills that affected retirement, including pensions and benefits. Legislation marked with an asterisk (*) has been signed by the governor. Legislation marked with two asterisks is awaiting the governor’s decision. Visit “How a bill becomes a law” to learn more about Washington’s legislative process. Subscribe below for updates about…
Did you choose the right plan?
Most of us don’t know exactly what we’ll be doing 30, 20 or even 10 years from now. And yet, when you chose a retirement plan, you were faced with deciding just that. Which plan will serve me better for my lifetime? It’s a big decision. And in the case of your DRS retirement plan,…
7 podcast episodes to get you ready to retire
One of the biggest challenges of prepping for retirement is understanding all the different pieces — like choosing the right health care, understanding the jargon and getting a clear picture of your finances. Since retirement looks different for everyone, it’s important to take the time to figure out what’ll work best for you. Luckily, our…
DCP tax savings benefits and beyond
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…
Public Records Request for Retiree Information
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 2024: Per Washington’s Public Records Act, these records are not exempt from disclosure, so DRS must share this information with the requester. DRS will provide the information on April 25, 2025.…
Is your pension enough?
Your retirement needs are unique. Not unlike your family tree that can show you where you got your brown eyes and curly hair, you also have a pension DNA. Unfortunately, there isn’t a money tree you can reference for personal financial matters but there are ways to estimate what you’ll need in retirement. There’s no…
