DRS Email 11-017, ESHB 1981, System Choice between...

  • Notice No.: 11-017
  • Date: June 27, 2011
  • Applies to: Higher Education Employers
  • Subject: DRS Email 11-017, ESHB 1981, System Choice between PERS/TRS Plan 3 and HERP

Effective July 1, 2011, new employees hired into a HERP eligible position now have a choice between enrolling in the HERP or PERS/TRS Plan 3.

Key Points:

  • New employees have 30 days to choose between the HERP and Plan 3
    • Please provide the attached Plan 3 Facts at a Glance to these employees
  • If no choice is made within 30 days, the employer will default the employee to the HERP
  • If employee chooses Plan 3, have them complete the attached HIGHER EDUCATION EMPLOYEES PLAN INVESTMENT PROGRAM FORM
    • This is a tool for you to gather the reporting information you will need
    • Employer keeps this form – Do NOT forward to DRS
  • Report employee on the DRS retirement transmittal
    • 3C and Date choice was made
    • Member contributions, investment program, rate option
    • Compensation, hours, employer contributions

Should you have questions, please reply to this notice or call Employer Support Services at 360-664-7200 (option 2) or 1-800-547-6657 (option 6 then option 2).