PSRS/PEERS: More than Service Retirement

When you think about PSRS/PEERS, retirement benefits are probably top of mind—and for good reason. Those benefits are valuable! But there’s much more to your PSRS/PEERS membership. Your membership protects you and your loved ones throughout your career and beyond. 

Lifetime Retirement Income You Can Count On 

To start, when you earn service retirement benefits with PSRS/PEERS, you have the security of steady, predictable income in retirement for the rest of your life. That is because it is a defined benefit plan. That means your retirement income is based on a formula, not on how much you have saved. So, no matter how long you live, you will continue receiving monthly retirement benefits. That kind of security is increasingly rare and incredibly valuable. With PSRS/PEERS, you don’t have to worry about outliving your savings. 

Protection If the Unexpected Happens 

Your PSRS/PEERS membership also provides disability benefits, an important layer of protection if you are unable to work because of illness or injury. If you meet certain service and medical requirements, these benefits can offer financial stability when you need it most. 

Security for Your Loved Ones 

PSRS/PEERS also offers survivor benefits to help protect your family. These benefits can include continuing monthly payments to a beneficiary or a one-time payout, depending on your plan and your years of service. Survivor benefits mean peace of mind for you and real support for the people who depend on you.  

Bottom Line: Your PSRS/PEERS Membership Works for You Now and Later 

Even if retirement feels far away, your PSRS/PEERS membership is already working for you. Have questions about your benefits? We’re here to help you understand the full value of your membership at every stage of your career.