Transferring from PERS2 to PERS3
Members of PERS Plan 2 who were enrolled in the plan prior to March 1, 2002 have an annual option to transfer to PERS 3 between January 1 and January 31. To be eligible for this year’s transfer window, you must earn service credit in January 2017.
This one-time transfer is irrevocable. You cannot change plans at a later date.
Note: If you became a member of PERS 2 after March 1, 2002, you already had a 90-day period to choose either PERS 2 or PERS 3, and whichever option you chose at the time was irrevocable.
If you wish to remain in PERS 2, you do not need to do anything.
If you are considering a change to PERS 3, be sure to carefully review the eligibility and Plan 3 education that the Department of Retirement Systems has available online at: http://www.drs.wa.gov/publications/member/multisystem/transferChoice.htm
Steps to transfer from PERS2 to PERS3:
If you decide to transfer from PERS 2 to PERS 3, complete the DRS Member Transfer Form and return it to UW Benefits no later than 5 p.m. Tuesday, January 31, 2017: http://www.drs.wa.gov/Plan3/assets/member-transfer-form.pdf
Tips on completing this form:
- Retirement System: Select Public Employees’ Retirement System (PERS)
- Contribution Rate & Investment Program Selection: Select a contribution rate AND an investment program. Once you enroll you cannot change your contribution percentage except in the circumstances noted on the form.
Once UW Benefits has processed your change request, you will receive confirmation directly from DRS of the elections you made. For more information, contact DRS at: 1-800-547-6657 or email recep@drs.wa.gov
If you have any questions or concerns, please contact benefits@uw.edu