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Highlights of Changes to PERS for CWA 4502 Members

There are many changes to the PERS system because of legislation that was signed into law in September 2012. The law goes into effect on January 7, 2013. Those retiring after that date will have changes to their retirement.


Future retirees are divided into 3 groups: Group A, Group B and Group C. All the changes will apply to people in Group C. Those in Group B will be grandfathered into some of the old rules and those in Group A will be grandfathered into most of the old rules. Those retiring before the legislation takes effect will not be subject to the changes in service requirements or Cost of Living Adjustment changes.


Which group are you in?
Group A: You would have been eligible to retire under the old rules before Dec. 31, 2017
Group B: You would have been eligible to retire under the old rules before Dec. 31, 2022
Group C: Everyone not in Group A or Group B
(Old rules were 60 years old with 5 or more years of service, 55 years old with 25 years of service or any age with 30 years of service)

A chart is also available to determine your group here.

For Group A, no changes in retirement age and service requirements (Although their cost of living adjustments will change)

Members of Group B will be eligible to retire with an unreduced benefit as follows:
• Any age with 32 years of service
• Age 52 with 31 years
• Age 66 with 5 years
 
With a reduced benefit as follows:
• Age 55 with 25 years of service
• Age 60 with 5 years
 
Members of Group C, will be eligible to retire with an unreduced benefit as follows:
• Age 55 with 32 years of service
• Age 67 with 5 years
 
With a reduced benefit as follows:
• Age 57 with 25 years of service
• Age 62 with 5 years

There are many other changes, including changes to healthcare plans. Please visit the PERS site or Contact PERS at 1-800-222-PERS (7377)  for more information, especially if you are currently eligible to retire.

 

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