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PERS Plan 3 - 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
Retirement - King County, Washington Road to Retirement: If you are planning to retire from King County in the next six months, this class covers procedures, forms, medical coverage options, and pension plans
Employee Retirement Guide - King County, Washington For the majority of State retirement plans (PERS 1, PERS 2, PERS 3, PSERS 2 and LEOFF 2), you need to terminate your employment with King County on a date before the first of the month in which you want to begin accruing your pension benefit, which is your defined benefit amount
DRS: Choose your plan - Compare Plan 2 and Plan 3 Plan 3 Pension benefit: This part of the benefit in Plan 3 is based on the length of time you’ve worked, your pay and your age at retirement You’ll receive a benefit for the rest of your life The payments are guaranteed by the state of Washington Your employer contributes this part of your plan
Summary of Benefits for Regular Employees - WBCP, Inc PERS Plan 3 has two different components: a defined benefit component (similar to PERS Plan 2 except it uses one percent in the formula instead of two percent) and a defined contribution component
PERS Plan 3 Member Handbook - Aberdeen, WA PERS Plan 3 is a 401(a) defined benefit plan with a defined contribution component When you retire, you will receive a monthly benefit for the rest of your life that is based on your earned service credit and your Average Final Compensation (AFC)
Vested - Department of Retirement Systems You need 10 years of service credit to qualify for a pension retirement under Plan 3 However, if any of those years includes at least 12 months of service after age 44, you only need 5 years to qualify
Retirement - King County, Washington The County offers its employees several opportunities to save for the future, including a pension through the Washington State Department of Retirement Systems, a voluntary Deferred Compensation Plan, an HRA VEBA account, and Social Security benefit contributions