PEERS New Member Information

It is never too early to start planning for a secure retirement. It is in your best interest to understand your retirement system and stay informed about changes as they occur.

Did You Know?
The Public Education Employee Retirement System of Missouri (PEERS), formerly the Non-Teacher School Employee Retirement System of Missouri (NTRS), is a defined benefit plan that provides disability and service retirement benefits to members, and benefits to qualified beneficiaries of deceased members. NTRS was created with the adoption of House Bill 88, which became effective October 13, 1965. PEERS is established as a corporate body and is not assigned to any department of state government. The PSRS/PEERS Board of Trustees is charged by law with the administration of PEERS. Changes to the law governing PEERS can be made only by an act of the Missouri Legislature.

Defined Benefit (DB) Plan
PEERS is a defined benefit plan. Your retirement benefit is payable for your life and is calculated using a set formula based on a percentage factor set by the Missouri Legislature, your salaries and credit earned while employed under PEERS.

PEERS Membership Covers
PEERS-covered employers include all Missouri public school districts, except those in the city of St. Louis and Kansas City, Missouri public two-year colleges that have elected to join, and non-profit educational associations that have elected to join.

Membership
PEERS membership is required, regardless of position, for non-certificated employees employed to work at least 20 hours per week on a regular basis by an employer within the Retirement System in a position that normally requires the employee to work at least 600 hours during the school term.

Vesting
Vesting establishes the right to a future retirement benefit without additional PEERS-covered service. You are vested once you acquire five years of creditable service with PEERS.

Contribution Rate for 2010-2011
The contribution rate for the school year 2010-2011 is 6.63% for the employee and 6.63% for the employer. For example, if your eligible annual compensation is $12,000, your total retirement contributions withheld from your pay are $795.60 ($12,000 x 6.63%). Your employer also remits $795.60. The contribution rate is set each year by the PSRS/PEERS Board of Trustees based on the actuarial need.

Member Statement
Your Member Statement is mailed in the Fall of each year and reflects your account balance as of the previous June 30.

Your Member Statement includes more information about your membership than ever before in an expanded, easier-to-read format. Learn more about the features of your new statement in this animated presentation.

Beneficiary Designations
It is critical that you keep your designation current so that benefits payable to your beneficiary(ies) may be paid according to your wishes.

You may need to make changes to your beneficiary listing if you marry or divorce, with the births of children, or as other life changes occur.

If you decease with an invalid designation, your beneficiaries will be determined under state statute.
Your beneficiary designation is indicated on your Member Statement. You may also check your beneficiaries by accessing your online account using your password, or by calling PEERS.

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	Welcome to the Public Education Employee Retirement System of Missouri (PEERS) It is never too early to start planning for a secure retirement. It is in your best interest to understand your retirement system and stay informed about changes as they occur. Did You Know? The Public Education Employee Retirement System of Missouri (PEERS), formerly the Non-Teacher School Employee Retirement System of Missouri (NTRS), is a defined benefit plan that provides disability and service retirement benefits to members, and benefits to qualified beneficiaries of deceased members. NTRS was created with the adoption of House Bill 88, which became effective October 13, 1965. PEERS is established as a corporate body and is not assigned to any department of state government. The PSRS/PEERS Board of Trustees is charged by law with the administration of PEERS. Changes to the law governing PEERS can be made only by an act of the Missouri Legislature. Defined Benefit (DB) Plan PEERS is a defined benefit plan. Your retirement benefit is payable for your life and is calculated using a set formula based on a percentage factor set by the Missouri Legislature, your salaries and credit earned while employed under PEERS. PEERS Membership Covers PEERS-covered employers include all Missouri public school districts, except those in the city of St. Louis and Kansas City, Missouri public two-year colleges that have elected to join, and non-profit educational associations that have elected to join. Membership PEERS membership is required, regardless of position, for non-certificated employees employed to work at least 20 hours per week on a regular basis by an employer within the Retirement System in a position that normally requires the employee to work at least 600 hours during the school term. Vesting Vesting establishes the right to a future retirement benefit without additional PEERS-covered service. You are vested once you acquire five years of creditable service with PEERS. Contribution Rate for 2010-2011 The contribution rate for the school year 2010-2011 is 6.63% for the employee and 6.63% for the employer. For example, if your eligible annual compensation is $12,000, your total retirement contributions withheld from your pay are $795.60 ($12,000 x 6.63%). Your employer also remits $795.60. The contribution rate is set each year by the PSRS/PEERS Board of Trustees based on the actuarial need. Member Statement Your Member Statement is mailed in the Fall of each year and reflects your account balance as of the previous June 30. Your Member Statement includes more information about your membership than ever before in an expanded, easier-to-read format. Learn more about the features of your new statement in this animated presentation. Beneficiary Designations It is critical that you keep your designation current so that benefits payable to your beneficiary(ies) may be paid according to your wishes. You may need to make changes to your beneficiary listing if you marry or divorce, with the births of children, or as other life changes occur. If you decease with an invalid designation, your beneficiaries will be determined under state statute. Your beneficiary designation is indicated on your Member Statement. You may also check your beneficiaries by accessing your online account using your password, or by calling PEERS. Want more information? Visit our Member Handbook, Notes for New Members, or see a listing of Frequently Asked Questions.