If you leave the system, you can take these funds with you, but you will lose all the service associated with them. This is important to understand. If you were vested 5 or more years of service you are no longer guaranteed a retirement benefit. Here you will find information based on your role in our system, whether you are an active member, near retirement, a retired member or an APERS participating employer.
For the purposes of accessing an account online, this description is used to indicate the person receiving the lifetime benefit that would have been available to the spouse or registered domestic partner of a member who passed away prior to retirement.
After you retire, you may not change your beneficiary to another person. However, if you wish to change to the higher Unmodified Option 1 benefit, you may do so with the concurrence of your spouse or registered domestic partner; however, the change is not retroactive and no beneficiary benefit will be paid after your death as a retired member.
If your beneficiary under one of the Options 2 through 7 predecease you, your monthly benefit would be adjusted to the higher Unmodified Option 1 benefit at the beginning of the next month upon receipt of a certified copy of your beneficiary's death certificate. You cannot change from the Unmodified Option 1 benefit to any other plan after you have retired.
Box 5 represents the amount of your benefit received that year that is not subject to taxes based on the non-taxable employee contributions you paid to the system prior to your retirement. If you compare the difference between Box 1 gross distribution and Box 2a taxable amount that difference is indicated in Box 5. The average of a member's 36 highest consecutive months of compensation as certified by the public employer.
Vesting refers to the time period necessary for you to work in order to earn the right to receive a retirement benefit. For example, once you have attained 5 years of service we consider you "vested" in the system and eligible to receive retirement benefits at age Vesting also occurs at other time periods such as 10, 20, 25 and 30 years, which makes you eligible to receive benefits earlier than age Your service credit is multiplied by the service time multiplier 2.
The total percentage earned is then multiplied by your average compensation. The change became effective July 1, The percentage is calculated for each member based on the years, months and days of service they earn while employed with a Nevada public employer in a PERS eligible position. Service credit earned before July 1, , will be calculated using the 2. Service credit earned on or after July 1, will be calculated using the 2.
Member Statements are issued in yearly cycles for each of the public employers. If you wish to obtain current information regarding your account before your next Member Statement, you may set up a username and password to access the information via this website.
If you are under the Employer-Pay Contribution Plan, your portion of the increase will either be paid through salary reduction or in lieu of a pay increase depending on the employer for whom you work. Log into your account using the username and password you selected. Click on "Account" to see your beneficiaries and their relationships.
Access the Survivor Beneficiary Designation form through our website and type in your changes. You will then print and sign the form before mailing or faxing to the PERS office. Upon request, PERS can also mail you the form for completion. Log into your account and click on "Account".
The amount of money that has been contributed, your accumulated service credit and designated beneficiaries will be displayed. If you would like to see your account details you can click on "Account Details" and see the yearly or monthly transactions reported by your employer. Your service credit and salary will be displayed based on a fiscal year which will be July of one year through June of the next year.
If you are a school district employee who works less than 12 months in a school year, your service credit and salary will be displayed based on September of one year through August of the next year. If you terminate employment, you may elect to refund the employee contributions you personally paid into the system, which will cancel your membership in PERS. Under this plan, the member does not accrue refundable contributions and will retain their service credit in the event of termination.
In addition, your average compensation is adjusted at the time of retirement if you are under the ER Paid plan. Whether or not you will have the choice between the two contribution plans when you are newly hired depends upon the public employer in which you work.
Some public employers require mandatory participation under the ER Paid plan for their employees and others, like the State, allow for a choice. Regardless of which plan you are under, you share equally in the PERS contribution rate and there is no difference in how your monthly benefit will be calculated. PERS does not place a value on your retirement account. PERS will provide you with an estimate of retirement benefits, which you can take to an Actuary or Certified Public Accountant to have the value determined and be utilized in the negotiation process of your divorce.
A disability retirement benefit is calculated in the same manner as a service or regular retirement benefit. The only difference is that the disability benefit is not reduced for retiring early.
Six to eight months before your intended retirement date, we recommend you review the Pre-Retirement Guide publication and obtain an estimate of your retirement benefit by contacting one of our offices and requesting one. Up to six months before your intended retirement date, you will need to complete and return an Application for retirement benefits. Applications can be mailed to you or are available in our offices. Counselors are available to assist you in completing your application in both our Carson City and Las Vegas offices, or you may mail in your completed application directly to our Carson City office.
Below we have listed the eligibility requirements for retirement based on when you were first enrolled in PERS:. Part-time members of PERS earn service credit based on the percentage of full-time hours they work. For example, if you work exactly half-time for one calendar year, you earn six months of service credit.
However, special vesting rules apply for part-time employees. If you work at least half-time for one calendar year, you receive one full year toward vesting.
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