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Plan 3 transfer window open soon

Posted on December 31, 2025

The annual Plan 3 transfer window will be open in January for some members of PERS, SERS and TRS Plan 2 to make a permanent move to Plan 3. Members with these plans and hire dates may be eligible to transfer to Plan 3:

TRS Plan 2 members who began service before July 1, 2007
PERS Plan 2 state and higher education employees who began state service before March 1, 2002
PERS Plan 2 local government employees who began service before Sept. 1, 2002
SERS Plan 2 members (without past PERS Plan 2 service) who first established membership before July 1, 2007
SERS Plan 2 members (with past PERS Plan 2 service) who first established membership before Aug. 1, 2009

If this applies to you, and you would like to transfer from Plan 2 to Plan 3, DRS will transfer your Plan 2 contributions along with any interest earned to a Plan 3 investment account. All you need to do is complete a Member Transfer form and submit it to your employer by Jan. 31.

Plan 3 has two parts: a pension account and an investment account. Your employer pays into your pension fund, while your contributions go into an investment account that you control. Plan 3 rules allow you to withdraw the investment portion of your funds at any time after separating from employment.

For more information about the differences between Plan 2 and Plan 3, see Plan Choice.

Other ways to boost your retirement income

If you’d like to maximize your retirement income but are not eligible to transfer plans, there are several ways to do so through DRS.

Deferred Compensation Program (DCP)

DCP is a voluntary savings plan like 457, 403b or IRAs. You choose your monthly deposit amount, and you can adjust it up or down as your needs and income change. Some Plan 2 members may choose to set their DCP contribution rate to be the difference between 15% and the current Plan 2 rate to treat Plan 2 more like Plan 3. Similar to the Plan 3 investment component, you can withdraw your DCP savings any time after you separate, making options like early retirement more available to you.

Plan annuity

You can purchase a plan annuity using your DCP savings or other approved funding sources. The plan annuities increase your monthly pension and therefore offer the same survivor option and COLAs, as well as a balance refund. If you or your survivor pass before the original purchase amount is fully paid out, your beneficiaries will receive the remaining balance. You must purchase Plan annuities at the time of retirement.