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.
|Payment for||Will be deposited|
You might also be interested in ...
- Changing your monthly direct deposit to a different account
- online via Web Member Services
- via printable PEERS Monthly Benefit Tax Withholding Authorization form
- Learning about income taxes on your benefits
- Viewing your membership information online