Funding Your PEERS Benefits
PEERS' funding comes from three sources: member contributions, employer contributions and investment earnings. Investment earnings are the primary source of funding for PEERS benefits.
- PEERS contributions are automatically deducted from your salary, pre-tax, to help fund your benefits.
- Your employer contributes the same amount. Employer contributions are paid into a general fund used to pay monthly benefits for retirees and beneficiaries.
- Your contributions and interest are always returned to you or to your beneficiary, in the form of monthly benefits or a refund of your contributions and interest.
- The contribution rate is set each year by the PSRS/PEERS Board of Trustees. It is based on the recommendation of the Systems' actuary after the annual actuarial valuation has been completed.
The contribution rate for the 2020-2021 school year (July 1 to June 30) is 6.86% for members and 6.86% for employers.