When people get close to retirement, they often wonder how much money they’ll get to take home. This means they want to understand the difference between their gross pay (total earnings before deductions) and their net pay (the amount that goes into their bank account). While you’re working, your paycheck has many deductions, like Social…
Category Archives: News
What retirement? Tacoma firefighter going strong after 48 years
“I was still trying to find what I wanted to do,” he says. “I was taking a scuba diving class and one of the divers was a captain with the Tacoma Fire Department. He sparked my interest.” No pun intended; it was quite a spark indeed. This chance meeting set off Dave’s 48-year firefighting career…
Customer survey
As part of our commitment to providing the best possible experience, we’ve created a short survey to gather your input. Whether it’s praise, suggestions, or areas where we can improve, your input plays a crucial role in helping us serve you better. Thank you! Take the survey: Customer Survey Encuesta de Participación del Cliente
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…
