Home - PERA
Dec 27, 2024 · Apply for Retirement. The process of retiring is not something that happens in a single day, nor is it a single decision that can be made easily. Request a Refund. When you leave public employment, you may request a refund of your contributions. Update My …
Members - PERA
As a PERA member, you contribute a percentage of every paycheck to PERA. In exchange, we provide you a lifetime benefit. Unlike most retirement plans today, traditional pension plans like PERA—also known as defined benefit or DB plans—provide you with the security of …
Retirees - PERA
Dec 27, 2024 · We provide information to you about important benefit considerations—everything from annual increases to how your benefits are taxed. You have a direct connection with PERA through myPERA. Helpful Resources: Three Pensions Map Working After Retirement Annual Increase Tax Withholding
2025 Retiree and Benefit Recipient Information - PERA
Updated December 27, 2024 As we prepare for 2025, here are a few important reminders for members and survivors receiving PERA benefits: WHEN WILL I RECEIVE MY JANUARY PAYMENT? January 2025 payments will be paid on the first banking day of the month: Thursday, January 2, 2025.
Benefits - PERA
As a defined benefit retirement plan, PERA provides you with benefits to help you on your journey to retirement. As a PERA member, you contribute a percentage of every paycheck to PERA. In exchange, you’ll receive a lifetime defined benefit payment, or a pension, at retirement.
Preparing for Retirement - PERA
Decisions to consider when preparing for retirement. 1. When will you retire? What date will you retire? What is your last day as a public employee? 2. Do you want your PERA benefit to start now or later? Ending your PERA public service does not …
Online Services - PERA
Most employers complete their PERA reporting tasks with our secure internet system called the Employer Reporting and Information System (ERIS). This free service gives you an effective way to enroll members, send salary and contribution data, update members’ employment data, and maintain contact information about your agency.
- [PDF]
UNDERSTANDING PERA
Your PERA pension is a 401(a) defined benefit plan you pay into while working as a public employee. You contribute a percentage of each paycheck to your PERA account.
PHASED RETIREMENT: If you are continuing employment under a PeRA Phased Retirement Option (PRO), a Phased Retirement Agreement form must be submitted with your application (instead of the Verification of Termination form) before the PRO begins.
FAQ’s - PERA
For a Defined Benefit Plan member, a PERA pension is based on a formula using three variables: your age at retirement, the average of your highest five consecutive years’ salary, and your years of service credit.