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Once vested in the DB Plan, you are guaranteed a set monthly benefit for life based on a statutory formula using your class multiplier, years of credited service, and your final average salary. PSERS pension benefits are not offset for Social Security or automatically adjusted for inflation.
When can you retire with PSERS?
For Class T-C, Class T-D, Class T-E, Class T-F, and Class T-H members, a special early retirement is available if you are at least age 55 and have 25 or more years of credited service (55/25).
How many years do you need to retire from PSERS?
Any combination of age and service that totals 92 with at least 35 years of credited service.
How do I check my PSERS account?
On your MSS home page, click the link in the Voya Account Access box to access your PSERS DC account. Did you know that your PSERS Defined Contribution (DC) Plan o ers online tools and resources to help you plan your financial future?
What is the difference between PSRS and peers?
PEERS members participate in the federal Social Security program, but most PSRS members do not. PSRS members contribute at a higher rate to their retirement system than do PEERS members, and the benefit factors used in retirement benefit calculations are different.
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People also ask
What does it mean to be fully vested in PSERS?
Vested in PSERS DB Plan means you are eligible for a monthly retirement benefit after termination of employment.
What is the earliest you can retire with pers?
Full retirement age is 65. You can also choose to retire as early as age 55, but your benefit could be reduced depending on your total years of service.
What is the average pension for PSERS?
The average yearly pension benefit paid to annuitants was $26,078. PSERS had 770 participating employers on June 30, 2022.
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Purdue Standard Retirement and Savings Plans (PSRS)
Purdues Standard Retirement and Savings Plans (PSRS) program includes two components, an Exempt 403(b) Defined Contribution Plan and a Mandatory 401(a) Plan.
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