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.

Making Changes to Your Direct Deposit

You can change your monthly direct deposit to a different account anytime:

• Online via Web Member Services
• Via printable Direct Deposit Authorization for Monthly Benefit Payments (.PDF, requires Adobe Acrobat Reader)