Know the Value of Your PSRS/PEERS Membership
As a PSRS/PEERS member, you belong to a Defined Benefit (DB) plan that guarantees retirement benefits for life. Upon retirement, you can choose from six benefit payment plans, each offering different levels of financial protection for your loved ones. This variety allows you to select the option that best meets your specific needs.
A significant advantage of membership in a Defined Benefit plan is the lifelong financial security it provides. Regardless of the benefit plan you choose, you will receive monthly retirement payments for the rest of your life.
It’s important to remember that your benefit plan selection is final once made. Because this decision cannot be changed, careful planning is necessary to ensure the best outcome for your future. When it is time for you to retire, we are happy to provide you with the information you will need to make informed decisions.
Additional Membership Benefits
- Disability Benefits: If an illness or injury prevents you from working, you may qualify for disability benefits.
- Service Purchases: Members can purchase additional service with us before retiring. Doing so can increase your benefits or help you reach retirement eligibility sooner.
- Cost-of-Living Adjustments (COLAs): COLAs are applied to service and disability retirement benefits when economic and eligibility requirements are met.
Learn more about your membership and benefits today by exploring this website or by contacting our Information Center.