Member Archives

What is vesting?

Vesting is your right to the money contributed to your pension plan by your employer. Once you become vested, you’re entitled to receive a pension benefit when you retire. You’ll receive a monthly check for the rest of your life, even if you’ve left public employment. In Washington state this benefit is considered a contractual…

New benefits for some retirees, including return to work rules

New legislation allows more flexibility in the number of hours some retirees can work for the public sector. Also, retirees who chose the 3% ERF option will receive an increase to their monthly benefit. More return to work hours Nursing positions Effective April 14, 2023 — July 1, 2026 If you retired under PERS or…

Is retiring early right for you?

Retiring early isn’t something everyone longs for, but it might be worth considering if you haven’t thought about it already. As with all big decisions that leave us standing at the crossroads, deciding to retire early isn’t something you can take lightly. It’s not as easy as deciding on a dessert at a buffet, but…

Rumors we have heard

Rumors. They sure can be wild at times. At DRS, it’s not unusual for us to speak with customers who have heard a rumor that, as it so often turns out, is not exactly accurate. Some of the rumors we hear include:

Rise in fraudulent retirement calls and emails

Department of Retirement Systems recently learned of several email and phone schemes targeting public employees. Last week, an employee at the Washington State Department of Ecology got a call from one of these scammers. The employee, who will remain anonymous, received a call on her work cell phone from someone claiming to represent a non-profit…