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 should be available for use as follows:

2016 Direct Deposit Schedule
Payment for Will be deposited
January January 29
February February 29
March March 31
April April 29
May May 31
June June 30
July July 29
August August 31
September September 30
October October 31
November November 30
December December 30

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