Payment of Your Benefit

Because PEERS is a defined benefit (DB) plan, your retirement benefits are paid to you for life, no matter which benefit plan you choose. Your benefits are eligible for cost-of-living adjustments (COLAs) and are subject to both federal and state income taxes.

Your monthly benefit payments are made by direct deposit on the last working day of each month starting in the month your retirement becomes effective, and are available for use on that date.

2023 Direct Deposit Schedule
Payment forWill be deposited
JanuaryJanuary 31
FebruaryFebruary 28
MarchMarch 31
AprilApril 28
MayMay 31
JuneJune 30
JulyJuly 31
AugustAugust 31
SeptemberSeptember 29
OctoberOctober 31
NovemberNovember 30
DecemberDecember 29

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