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DRS: Public Pensions Public Pensions in Washington In Washington, there are eight state-administered public retirement systems for state and local government employees, with 15 different plans within those systems These systems serve more than 840,000 current and former public employees The retirement benefits they earn result in more than $5 9 billion in payments each year
The ins and outs of retirement service credits Member, NewsWe’re often asked to explain what service credit is and how it works Customers want to know about topics related to service credit, such as portability (also known as reciprocity), dual membership and out-of-state credit Here’s a rundown along with some links to helpful resources Retirement service credit basics Service credits are the units used to calculate your pension
TRS Plan 2 - Department of Retirement Systems Retirement plan guides for all Department of Retirement System plans including rules and benefit information for Washington State DRS pension customers
Plan 3 and DCP Account Log In Options DCP, Plan 3 and JRA investment accounts Log in options DRS online account or Direct investment log in What’s the difference? DRS online account Access ALL your DRS retirement accounts using a single username and password Most DRS customers use this method because they can access their DRS pension or investment information with one account
Multiple Plans - Department of Retirement Systems Multiple Plans If you are a member of more than one Washington state retirement system, you are a dual member You can combine service credit earned in all dual member systems to become eligible for retirement
Cost of Living Adjustment (COLA) - Department of Retirement Systems Cost of Living Adjustment (COLA) A cost-of-living adjustment (COLA) is an annual adjustment applied to retirement income to counteract cost changes in the economy (inflation) While most DRS retirement plans offer a COLA, Plan 1 members in PERS and TRS only have a COLA if they selected it during retirement
Chapter 2: Membership - Department of Retirement Systems Chapter 2: Membership In this section General information about membership and eligibility for each of the Washington state retirement systems (PERS, PSERS, SERS, TRS LEOFF, WSPRS and JRS) Cross references to relevant statutes and rules The Revised Code of Washington (RCW) are the statutes and the Washington Administrative Code (WAC) are the rules Employer responsibilities DRS relies on you
DRS: Contact Us DRS specialists are available weekdays from 8:30 am to 4:00 pm Call Tuesday through Thursday, avoiding the lunch hour, for the shortest wait time Leave a call back number when prompted to keep your spot in line and avoid waiting on hold altogether Avoid hold times by logging into your online account to send us a secure message
Leaving Employment - Department of Retirement Systems Leaving EmploymentLeaving Employment If you separate from DRS-covered employment, you can choose to either leave your contributions in the plan until you’re eligible to retire or withdraw them