Each January, PERS 2 participants who began state retirement service prior to March 1, 2002 have the opportunity to make a permanent transfer to PERS 3.
To transfer from PERS 2 to PERS 3, complete a Member Transfer Form and return it to HRS Benefits Services on or before Jan. 31, 2023. The Department of Retirement Systems (DRS) will transfer your PERS 2 contributions, and any interest earned, to a PERS 3 investment account. While the option to make the change is available each January for eligible employees, the switch to PERS 3 is an irrevocable decision once made.
Some reasons to consider the plan transfer include possible earlier retirement options, access to retiree medical coverage without having to draw your PERS, and the PERS 3 pension portion can continue to grow should you separate with 20 years of service and elect not to immediately begin drawing your pension.
For more information, including calculators, videos, webinars, and details on both plans to assist you, please visit the DRS website.
If you have questions regarding the January transfer window, you can reach the Department of Retirement Systems at 1‑800‑547‑6657 or HRS Benefits at hrs.benefits@wsu.edu or 509‑335‑4521.
