{"id":8380,"date":"2024-04-09T14:21:12","date_gmt":"2024-04-09T21:21:12","guid":{"rendered":"https:\/\/hr.uw.edu\/benefits\/?page_id=8380"},"modified":"2025-07-29T10:19:37","modified_gmt":"2025-07-29T17:19:37","slug":"psers-2-retirement-plan","status":"publish","type":"page","link":"https:\/\/hr.uw.edu\/benefits\/retirement-plans\/psers-2-retirement-plan\/","title":{"rendered":"PSERS 2 Retirement Plan"},"content":{"rendered":"

Available to full time public safety telecommunicators, the Public Safety Employee’s Retirement System Plan 2 (PSERS 2) retirement plan is a traditional, defined-benefit pension plan — when you meet plan requirements and retire, you\u2019re guaranteed a monthly income benefit for the rest of your life.<\/p>\n

Both you and the UW contribute money to PSERS 2. However, these contributions don\u2019t determine your retirement benefit. Instead, the income you receive from PSERS 2 during retirement depends on both your salary and your years of service while a member of PSERS 2.<\/p>\n

For a comprehensive summary about how your retirement plan works, see the PSERS 2 Information Webpage<\/a>.<\/p>\n

Enroll in PSERS 2<\/h4>\n

Only full-time public safety telecommunicators are eligible to participate in PSERS 2. Participation is a condition of employment and you will be automatically enrolled in the plan if you are eligible. Full time is defined as working an average of 160 hours per month for at least 12 months.<\/p>\n

What you contribute<\/h4>\n

Currently you contribute 6.91% of your gross salary to PSERS 2.<\/p>\n

The UW also contributes to PSERS 2 on your behalf. These aren\u2019t matching funds, and you have no access to them. The rates at which both you and UW contribute are specified by the state legislature. They periodically adjust the rates to reflect the overall cost of the plan.<\/p>\n

While these contributions help fund PSERS 2, they do not determine how much income you receive at retirement. Use the PSERS 2 formula to calculate your monthly retirement benefit.<\/p>\n

<\/h4>\n

Your retirement benefit<\/h4>\n

At retirement, the income you receive from PSERS 2 depends on two factors — how long you\u2019ve worked and how much money you made. The formula for calculating your monthly retirement benefit is:<\/p>\n

2% x service credit years x average final compensation<\/b><\/p>\n

Average Final Compensation (AFC):<\/strong> The monthly average of your 60 consecutive highest-paid service credit months.<\/p>\n

Service credit:<\/strong> Service credit is based on the number of hours you work each month and how long you have participated in the retirement plan.\u00a0The UW reports your hours and earnings to the Washington state Department of Retirement Systems (DRS) every payday.<\/p>\n

Full Retirement<\/h4>\n

You\u2019re vested in the plan when you have five years of service credit. And once you\u2019re vested, you\u2019re eligible to retire with a full benefit at age 65. You are also eligible to retire at age 60 with 10 years of PSERS service credit with no reduced benefit.<\/p>\n

Early Retirement<\/h4>\n

You can retire with a reduced benefit as early as age 53 if you have at least 20 service credit years.<\/p>\n

Retirement Savings Education & Resources<\/h4>\n

The Department of Retirement Systems (DRS) offers a wide range of resources to help you understand your retirement plan and meet your retirement savings goals. Visit DRS Education<\/a> to find webinars, seminars, calculators and more.<\/p>\n","protected":false},"excerpt":{"rendered":"

Learn about the Public Safety Employee’s Retirement System Plan 2 (PSERS 2) retirement plan, including eligibility, enrollment, contributions, and other details<\/p>\n","protected":false},"author":72,"featured_media":0,"parent":131,"menu_order":50,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"class_list":["post-8380","page","type-page","status-publish","format-standard","hentry","search_bucket-contact-benefits","search_bucket-page","keyword-psers-2"],"acf":[],"yoast_head":"\nPSERS 2 Retirement Plan - Benefits<\/title>\n<meta name=\"description\" content=\"The Public Safety Employee's Retirement System Plan 2 (PSERS 2) retirement plan provides a monthly income benefit for the rest of your life if you qualify.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hr.uw.edu\/benefits\/retirement-plans\/psers-2-retirement-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSERS 2 Retirement Plan - 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