Some employees have expressed interest in early retirement, but are not eligible for the incentive WSU is offering as part of budget-reduction efforts.
The incentive applies only to participants in the Washington State University Retirement Plan (WSURP), also known as TIAA-CREF.
WSU continues to work with the state Legislature to address early retirement incentives for participants in the Public Employee Retirement System (PERS) plans. But, in the meantime, employees may not know that the PERS plans already have early retirement provisions built in.
Both the PERS 2 and 3 plans make provision for retirement as early as age 55. Early retirement depends on years of service, and except in one case – benefits are reduced compared to retirement at age 65.
Details on these options as well as other sources of retirement funds, like Social Security, voluntary investment programs and the sick-leave medical expense plan can be found in the March HRS Essentials newsletter ONLINE
@ www.hrs.wsu.edu (click the link at the top right).
For more information and for personal help to investigate your options, contact Human Resources Services at hrs@wsu.edu or 335-4521.
