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.

2024 Direct Deposit Schedule
Payment forWill be deposited
JanuaryJanuary 31
FebruaryFebruary 29
MarchMarch 29
AprilApril 30
MayMay 31
JuneJune 28
JulyJuly 31
AugustAugust 30
SeptemberSeptember 30
OctoberOctober 31
NovemberNovember 29
DecemberDecember 31

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