Department of Retirement Systems
Plan Choice Guide
For new employees hired on or after June 30, 2020
You have 90 days to choose
between two rerement plans
Plan 2 or Plan 3? Use this guide
and online tools to evaluate the
best t for you
Carefully consider your opons;
your plan choice is permanent
Conrm your plan choice with
the forms inside
drs.wa.gov/choice  1
Welcome to public service
Congratulaons on your employment
in public service! It is our pleasure to
welcome you as a customer of the
Washington State Department of Rerement
Systems (DRS).
As a new member of the rerement system for
public employees (PERS), school employees
(SERS) or teachers (TRS), you have a choice to
make that will set the course for your future
rerement benets.
This publicaon will guide you through the
basics of making that choice. Addional
resources are available at drs.wa.gov/choice.
At DRS, our mission is to provide informaon,
experse, tools and services to help you
prepare for and experience a successful
rerement. We look forward to serving your
rerement needs.
Contents
90 days to choose your plan 2
Insight into Plan 2 4
Insight into Plan 3 5
Ready to choose a plan? 9
Plan comparison 10
Rerement terms to know 12
Plan Choice Member Informaon Form 13
Beneciary Designaon Form 15
PERS
Public Employees’
Rerement System
SERS
School Employees’
Rerement System
TRS
Teachers’
Rerement System
Plan choice
rerement systems
Want to know what vesng is?
How about early rerement? See
"Rerement terms to know" on page 12.
2  DRS Plan Choice Guide
90 days
to choose your plan
You have 90 days to choose between two plans
oered in PERS, SERS and TRS—Plan 2 or Plan 3.
Carefully consider your opons. Your plan choice
is permanent. If you don’t choose a plan within
90 days of becoming a public employee, you will
automacally be placed in Plan 2, and you cannot
later decide to become a member of Plan 3.
We understand you are busy in your new job with
many decisions and responsibilies. Even so, we
encourage you to take me to think about your
rerement goals, compare features and make
benet projecons. Then, select the plan that
best ts your circumstances.
What to consider before choosing a plan
There are a number of things to consider when
choosing between Plan 2 and Plan 3. Both plans
oer a path to a successful rerement, but each
one is designed to meet dierent needs. Here are
some things to ask yourself as you weigh your
opons:
What is my future career path? Do you
envision a lifeme career with an employer
in the state rerement systems, or will you
eventually be working in the private sector
or in another state? These quesons are
important as you consider whether benets
will go with you to a new job.
How soon do I want to rere? The two
plans have dierent requirements for
how long you have to work to be eligible
for a benet and how soon you can rere
or access your funds. Consider these
provisions as you think about how much
me you have unl your planned
rerement date.
Do I want to be involved in investments
for my plan? What is your risk tolerance?
Are you comfortable making and managing
investment selecons, or would you prefer
having those decisions made by investment
professionals?
What opons do I want for my
contribuon rate? Plan 2 and Plan 3 have
dierent approaches to your rerement
contribuons. Think about whether you
want to select how much comes out of your
paycheck or if you want that amount to be
determined and adjusted based on what is
needed to fund your plan.
Use the Plan Choice Calculator
A standard pracce for esmang
rerement income needs is to base it
on 80% of your income ve to 10 years before
you rere. As you evaluate Plans 2 and 3, use
the Plan Choice Calculator (drs.wa.gov/choice)
to compare rerement income projecons with
this standard, or with your own goal. The tool will
generate projecons based on plan selecon and
other variables, including your salary, when you
plan to stop working and when you plan to start
collecng rerement benets.
What happens if you don’t
choose a plan?
Your employer will begin deducng
Plan 2 contribuons from your pay
prior to making a plan choice. Aer 90
days you will default to Plan 2 if you do
not formalize your choice.
drs.wa.gov/choice  3
Its also important to consider other sources of
rerement income as you calculate a projected
monthly rerement benet. Do you qualify for
Social Security benets? Do you have savings in
other rerement plans from past employers? Do
you have an IRA? These should be considered as
you decide whether to join Plan 2 or Plan 3.
Supplemental savings programs
If you discover in your projecons
that you’ll need more income in
rerement, consider joining a supplemental
savings program oered by or through your
employer. The Washington State Deferred
Compensaon Program is such a program, giving
you an opportunity to invest addional money
for your rerement while lowering your taxable
income while you work. Administered by DRS,
the Deferred Compensaon Program is oered
through many public employers in the state.
Signup is easy and you can start by contribung
as lile as $30 per month. Visit drs.wa.gov/dcp to
learn more.
Key features
A one-part plan
One part with a
guaranteed income
A two-part plan
One part with a
guaranteed income
and one part with
investment opons
No personal
investments
Investments you
choose or have
selected for you
One predetermined
contribuon rate that
will vary over me
Choose from six
income contribuon
rates
Earliest you can rere
(with reduced benet)
20 service credit
years at age 55
Earliest you can rere
(with reduced benet)
10 service credit
years at age 55
Health insurance
in rerement
If you receive PEBB or
SEBB coverage, you
must begin receiving
your rerement
benet as soon as you
leave employment,
or you will forfeit
PEBB coverage in
rerement
Health insurance
in rerement
If you receive PEBB
or SEBB coverage,
you can delay
receiving your
rerement benet
and sll be eligible
for PEBB coverage in
rerement
Plan
2
Plan
3
Friends and coworkers might
oer advice, but everyone’s
circumstances are unique.
Ocial resources like this guide can oer
you unbiased informaon to make the
plan choice right for you. The following
pages dig a bit deeper into each plan.
Which plan is best for you?
More resources are available
to help you decide.
Find calculators, videos and plan
handbooks at drs.wa.gov/choice
For more plan comparisons, see page 10.
4  DRS Plan Choice Guide
Insight into Plan 2
Plan 2 has one part—a 2% dened benet. You
and your employer contribute to your plan. Your
benet does not depend on the amount of the
contribuons.
A 2% dened benet plan
Once you meet age and service requirements and
you’ve applied for rerement, you will receive
a guaranteed monthly benet for your lifeme.
Your benet is based on your years of service
credit and the pay you’ve earned.
The 2% dened benet formula used to
calculate your rerement is:
2% x service credit years x Average Final
Compensaon = monthly benet
How it works: If you worked full me every month
for 15 years and your average monthly pay for
your highest consecuve ve years was $4,000,
your monthly benet would be $1,200.
2% x 15 SCY x $4,000 AFC = $1,200 monthly benet
Contribuon rates
Plan 2 is funded by mandatory contribuons
you and your employer make. The Washington
State Investment Board (WSIB) invests those
contribuons. Member contribuons are
deducted from your pay and you can see
your contribuons on your pay statement.
Contribuon rates change over me, based on
funding needs of the plan.
Member Contribuon Rates
(through 6/30/2021)
Public Employees’ Plan 2 7.90%
School Employees’ Plan 2 8.25%
Teachers’ Plan 2 7.77%
Note: Legislave changes can result in supplemental
rate adjustments. Find up-to-date contribuon rate
informaon on the DRS website.
Rerement—age and service credit
requirements
Rerement with a full benet—age 65
with at least ve years of service credit.
If you have at least 5 years of service credit
and you’re age 65, you can rere with a full
benet.
Early rerement with a reduced
benet—age 55 with 20 or more years of
service credit. Your monthly benet will be
reduced for each year (prorated monthly)
before you turn age 65 to reect that
you will receive a monthly benet over a
longer period of me. The amount of your
reducon depends on your age. The earlier
you rere, the larger the reducon.
There is less of a benet reducon for
early rerement if you have 30 or more
years or service credit. Your benet will
be reduced by 5% for each year (prorated
monthly) before you turn age 65. Again,
the earlier you rere, the larger the
reducon.
drs.wa.gov/choice  5
Leaving employment before
you’re eligible to rere
Your plan is designed to provide you with a source
of income throughout your rerement. For this
reason, you may not borrow from or against your
contribuons at any me.
It is possible to withdraw your contribuons and
the interest they’ve earned at any me aer
you leave all public service. However, if you do,
you give up your right to a future rerement
benet. You may not withdraw your employers
contribuons under any circumstances.
When you leave employment without starng to
receive a rerement benet, you can leave your
money in the plan where it will connue to earn
interest. If you have at least ve years of service
credit, you are vested in the plan. Aer becoming
vested, you’re eligible for the 2% dened benet
provisions of Plan 2 once you meet the age and
service credit requirements.
If you withdraw your contribuons and later
return to public service, there are certain opons
for recovering your withdrawn service credit by
making a one-me purchase. See Plan 2 Recovery
of Withdrawn or Oponal Service Credit on the
DRS website.
Insight into Plan 3
Plan 3 has two parts—a dened benet and a
dened contribuon. Your employer contributes
to your dened benet. You contribute to the
dened contribuon. You choose your investment
program and contribuon rate for the dened
contribuon part of your plan. Once chosen, your
dened contribuon rate is permanent unless you
change employers.
A 1% dened benet …
Once you meet age and service requirements and
you’ve applied for rerement, you will receive
a guaranteed monthly benet for your lifeme.
Your benet is based on your years of service
credit and the pay you’ve earned.
The 1% dened benet formula used to
calculate your rerement is:
1% x service credit years x Average Final
Compensaon = monthly benet
How it works: If you worked full me every month
for 15 years and your average monthly pay for
your highest consecuve ve years was $4,000,
your dened benet would be $600.
1% x 15 SCY x $4,000 AFC = $600 monthly benet
The 1% dened benet part of Plan 3 is funded
by mandatory contribuons made by your
employer and invested by the Washington State
Investment Board (WSIB). The dened benet is
guaranteed and is not dependent on investment
performance.
… and a dened contribuon for
investments you select
Under the dened contribuon part of Plan 3,
a poron of your pay is directed to investments
that you select from a range of oerings managed
What is WSIB?
WSIB, or the Washington State Investment
Board, is responsible for developing member
investment opons and managing rerement
savings investment programs.
6  DRS Plan Choice Guide
by the Washington State Investment Board.
The next secons discuss your contribuon rate
opons and the investment programs that are
available to you.
Choosing your dened contribuon rate
You choose how much to contribute from one of
these six rate opons:
Contribuon rate opons
Contribution rate options
5% all ages
5% up to age 35
6% ages 35 through 44
7.5% age 45 and older
6% up to age 35
7.5% ages 35 through 44
8.5% age 45 and older
7% all ages
10% all ages
15% all ages
If you don’t choose a contribuon rate, it will
default to opon A (5% for all ages).
Once your rate is set, you can change it only
when you change employers. Changing means
working for a dierent employer, not another
division or unit at your current workplace.
Ideally, you want to choose your contribuon
rate based on three consideraons: rerement
income needs, years unl rerement and current
budget.
To come up with a target rerement income, it’s
standard pracce to base it on about 80% of what
you believe your income will be ve to 10 years
before you rere.
Online tools and calculators can help you
determine the impact and benets of dierent
contribuon rates. These tools include a Take-
Home Pay Esmator and a Disbursement
Calculator (for esmang what an ending account
balance will pay monthly during rerement). For
tools and resources, visit the educaon secon
(drs.wa.gov/educaon)
.
Choosing your investments
The dened contribuon part of Plan 3 oers you
the choice between two investment programs:
Self-Directed
Washington State Investment Board (WSIB)
Plan 3 investment choice
Self-Directed
Investment Program
Build and
Monitor
One-Step
Investing
WSIB Program
Total Allocation
Portfolio
1) The Self-Directed Investment Program
If you choose the Self-Directed Investment
Program, you can take two dierent approaches.
One is the Build and Monitor approach, and the
other is One-Step Invesng.
5% all ages
5% up to age 35
6% ages 35 through 44
7.5% age 45 and older
6% up to age 35
7.5% ages 35 through 44
8.5% age 45 and older
7% all ages
10% all ages
15% all ages
drs.wa.gov/choice  7
Build and Monitor: you select, monitor and
adjust your investments. With Build and Monitor,
you select your own mix of individual funds and
decide how much to invest in each one. Choose
from a menu of professionally managed funds
listed in the chart below. The risk and return
proles of the funds range from high to low. You
are responsible for monitoring your investments
and making changes as you see t for your
circumstances.
Build and Monitor Funds
Emerging Market Equity Index
U.S. Small Cap Value Equity Index
Global Equity Index
U.S. Large Cap Equity Index
Socially Responsible Balanced
Washington State Bond
Short Term Investment Fund
One-Step Invesng: your investments are
automacally adjusted for you. The One-Step
Invesng approach is made up of Rerement
Strategy Funds, also known as "target date"
funds. Each one is diversied and automacally
rebalances, adjusng your asset mix as you move
toward a target date for rerement that meets
your needs and lifestyle.
There are 12 Rerement Strategy Funds, each
idened by a target rerement year, spaced
in ve-year increments (2050, 2055, 2060 for
example). To select the Rerement Strategy
Fund thats right for you, take the year you were
born and add it to the age you expect to rere or
withdraw your funds. The sum is your target date.
How it works: 1993 (birth year) + 65 (rerement
age) = 2058 (2060 is the closest target date)
Once you have a target date, pick the fund with
the year closest to your target. In the previous
example, the selecon would be the 2060 fund.
2) The WSIB Investment Program
If you have your contribuons directed to the
Washington State Investment Board Program,
WSIB will invest them in its Total Allocaon
Porolio (TAP). A monthly valued fund, the TAP is
a diversied mix of U.S. and internaonal stocks,
bonds, private equity and real estate investments.
Deciding on an investment program
WSIB Total Allocaon Porolio (TAP). The TAP is
a fairly aggressive balanced fund that is intended
for long term invesng. The investment strategy
is to create a porolio mix designed to generate
maximum return in the long term at a prudent
level of risk. It includes some asset classes not
available in the Self-Directed Investment Program,
which increases the porolio’s diversicaon but
causes it to be a monthly valued porolio.
Plan 3 investments
With Plan 3, you are not locked into the
investment choices you make now. If you
later decide to change your investment
program or fund selecons you can contact
the Plan 3 record keeper (drs.wa.gov/plan3).
8  DRS Plan Choice Guide
Self-Directed Investment Program. Within the
Self-Directed Program, you can choose one of
two approaches—Build and Monitor or One-Step
Invesng. To determine which one might be right
for you, ask yourself these quesons:
Do I want to select my own mix of
individual funds?
Am I comfortable deciding how much to
invest in each fund?
Do I have the me to keep an eye on my
investments and make changes as I get
closer to rerement?
If the answer to any of these quesons is yes,
you might be interested in the Build and Monitor
approach to invesng. If the answer to any of
these quesons is no, you might be interested in
the One-Step Invesng approach.
If you choose from the seven investment funds
as part of the Build and Monitor approach to
invesng, you will be responsible for monitoring
your account balances and periodically
rebalancing if necessary to maintain your
investment objecves.
The One-Step Invesng approach is designed
for those who answered no to any of the
quesons above. If you are not interested in
selecng, monitoring or making changes to your
investments, the Rerement Strategy Fund might
be right for you.
More informaon on both WSIB’s TAP program
and the Self-Directed Investment Program
is available in the Investments secon at
drs.wa.gov/plan3.
If you do not make an investment
program selecon
If you do not select either investment program,
your contribuons will default into the Self-
Directed Investment Program. In this case, all
of your contribuons will be invested in the
Rerement Strategy Fund that assumes you’ll
rere at age 65.
Rerement—age and service credit
requirements
Rerement with a full benet—age 65. If
you have at least 10 years of service credit
and you’re age 65, you can rere with a full
benet. If you have at least ve years of
service credit, you can rere at age 65 with
a full benet if you earned at least one of
your ve years of service credit aer age
44.
How it works: You’re age 47 and have ve years of
service credit. You earned three years of service
credit aer the age of 44. You choose to leave
public service and begin drawing from the dened
contribuon part of your plan. You plan to delay
receiving your dened benet unl age 65.
Because you have earned at least one year of
service credit aer age 44, you can rere with a
full benet at age 65 even though you only have
ve years of service credit.
Early rerement with a reduced benet—
ages 55 to 64 with at least 10 years of
service credit. If you rere early, your
monthly benet is reduced to reect that
you will receive it for a longer period of
me. The earlier you rere, the larger the
reducon.
There is less of a benet reducon for
early rerement if you have 30 or more
years of service credit. Your benet will
be reduced by 5% for each year (prorated
drs.wa.gov/choice  9
monthly) before you turn age 65. Again,
the earlier you rere, the larger the
reducon.
Leaving employment before you’re
eligible to rere
The dened benet part of your plan is
designed to provide you with a source of income
throughout your rerement. For this reason, you
can’t withdraw the contribuons your employer
makes to this part of your plan.
In Plan 3, it is possible to withdraw your
contribuons and investment earnings from your
dened contribuon any me aer you leave all
public service. However, withdrawal could reduce
an important source of your rerement income.
Plan 3 annuies
An annuity purchase is a way to convert your
investments to a guaranteed lifeme income
stream, providing the security of a set monthly
payment that can cover part or all of your xed
expenses. However, exibility is not a feature
of annuies. If your xed expenses increase,
annuies do not allow you to adjust payment
amounts to meet changing needs. With annuies,
you are trading market risk and account growth
for the guarantee that you will not outlive your
account balance. For more informaon about
annuies — including the TAP Annuity — see DRS
Annuies at drs.wa.gov/annuity.
Ready to choose a plan?
1. Complete the Member Informaon Form on
page 13 and turn it in to your employer.
2. Complete the Beneciary Designaon form
on page 15 and return it to DRS.
Sll not sure?
Visit drs.wa.gov/choice for more resources.
Plan 3 members, if you have at
least 20 years of service credit
when you leave employment and
do not start receiving your dened
benet, it will increase by about 3% each
year you delay receiving it, up to age 65.
10  DRS Plan Choice Guide
Plan 2 Plan 3
Dened Benet Dened Benet Dened Contribuon
Plan structure
The benet in Plan 2 is based on the
length of me you’ve worked, your pay
and your age at rerement. You will
receive a benet for the rest of your life.
The payments are guaranteed by the
state of Washington. Both you and your
employer contribute to your plan.
This part of the benet in Plan 3 is based
on the length of me you’ve worked,
your pay and your age at rerement. You
will receive a benet for the rest of your
life. The payments are guaranteed by
the state of Washington. Your employer
contributes this part of your plan.
This part of the benet is based on what
you contribute to the plan and how the
investments you select perform.
Benet calculaon
2% x service credit years x Average Final
Compensaon = monthly benet
1% x service credit years x Average Final
Compensaon = monthly benet
Determined by your contribuons,
investment performance and withdrawal
choices.
Contribuon rates
Public Employees 7.90%
School Employees 8.25%
Teachers 7.77%
Note: Legislave changes can result in
supplemental rate adjustments. Find up-
to-date contribuon rate informaon on
the DRS website.
Your employer contributes this part of
your benet; you do not.
You select your rate. You cannot change
your rate unless you change employers.
Opon A 5% all ages
Opon B 5% up to age 35
6% ages 35-44
7.5% ages 45 and older
Opon C 6% up to age 35
7.5% ages 35-44
8.5% ages 45 and older
Opon D 7% all ages
Opon E 10% all ages
Opon F 15% all ages
The role of investments
Your contribuons are invested by the
Washington State Investment Board
(WSIB). Your benet is guaranteed
and is not dependent on investment
performance.
Your employer contributes this part of
your benet. Those contribuons are
invested by the WSIB. Your benet is
guaranteed and is not dependent on
investment performance.
You choose how your contribuons will
be invested from a range of opons
provided by the WSIB. The amount of
your benet depends on the amount you
contribute and the performance of your
investments.
Vesng
You earn the right to a monthly benet
in rerement when you have 5 years of
service credit.
You earn the right to a monthly benet in
rerement aer 10 years of service credit
in most cases, or aer 5 years of service
credit with at least 12 months earned
aer age 44.
Vesng does not apply to this part of your
benet. You may withdraw the account
balance if you leave employment or you
may leave it in unl you reach rerement.
Plan comparison
drs.wa.gov/choice  11
Plan 2 Plan 3
Dened Benet Dened Benet Dened Contribuon
Eligibility for normal rerement
Age 65 or older with at least 5 service
credit years.
Age 65 or older with at least 10 service
credit years, or Age 65 or older with at
least 5 service credit years if at least 12 of
those months were earned aer age 44.
There is no specic age requirement for
this part of your benet. You may access
your money at any me aer you leave
employment.
Eligibility for early rerement with a reduced benet
Age 55 or older with at least 20 service
credit years. There is less of a reducon
to your benet if you have at least 30
service credit years.
Age 55 or older with at least 10 service
credit years. There is less of a reducon
to your benet if you have at least 30
service credit years.
There is no age requirement for this
part of your benet. You may withdraw
your money at any me aer you leave
employment.
If you are age 55 with 30 years of service
credit, your benet reducon is 5% for
each year (prorated monthly) before you
turn age 65.
If you are age 55 with 30 years of service
credit, your benet reducon is 5% for
each year (prorated monthly) before you
turn age 65.
Leaving employment before you’re eligible to rere
Your money can remain in the plan or
you can withdraw your contribuons and
the interest they’ve earned. However, if
you withdraw, you give up your right to a
future rerement benet.
You don’t contribute to the dened
benet part of your plan. Your employer
makes those contribuons, and you
cannot withdraw them.
Your money can remain in the plan,
or you can access your contribuons
and investment earnings. A variety of
distribuon opons are available.
Cost-of-Living Adjustments (COLAs)
On July 1 of every year aer your rst full
year of rerement, your monthly benet
will be adjusted by the percentage change
in the Consumer Price Index, up to a
maximum of 3% per year.
On July 1 of every year aer your rst full
year of rerement, your monthly benet
will be adjusted by the percentage change
in the Consumer Price Index, up to a
maximum of 3% per year.
There are no Cost-of-Living Adjustments
for the dened contribuon part of your
benet.
If you choose to purchase an annuity
using your dened contribuon funds,
some annuity opons include a COLA.
Health care coverage in rerement (PEBB)
Note: Employees receiving health insurance through the Public Employees Benets Board (PEBB) or the School Employees Benets Board
(SEBB) are eligible to receive health care coverage in rerement from PEBB. Not all DRS employers parcipate in PEBB/SEBB – contact
your employer to verify your health insurance provider. Addional informaon about PEBB coverage for qualifying rerees is available at
hca.wa.gov/employee-reree-benets.
To qualify, you must elect coverage
within 60 days of terminaon and begin
receiving your rerement benet as soon
as you leave employment. If you delay
receiving your rerement benet, you will
not be eligible for health care coverage
under PEBB.
To qualify, you must elect coverage within
60 days of terminaon. As long as you
meet the age and service requirements of
the plan (age 55 or older with 10 or more
years of service credit), you can delay
receiving your rerement benet and sll
be eligible for PEBB coverage.
Leaving your contribuons in the plan or
starng to draw them does not impact
your eligibility for health care coverage
under PEBB.
12  DRS Plan Choice Guide
Retirement terms to know
Asset mix: An investment porolio that is invested in
any combinaon of the three major classes of assets:
(1) cash and equivalents, (2) xed income instruments
(bonds), and (3) equity instruments (common stocks
or ordinary shares).
Average Final Compensaon (AFC): The monthly
average of your 60 highest paid consecuve service
credit months.
Cost-of-Living Adjustment (COLA): In Plan 2 and in
the dened benet part of Plan 3, on July 1 of every
year following your rst full year of rerement, your
monthly benet is adjusted by the percentage change
in the Consumer Price Index, to a maximum of 3% per
year. This percentage change can increase or decrease
your benet.
Dened benet: A predetermined rerement benet,
also called a pension plan.
Plan 2 dened benet: 2% x your SCY x your
AFC. Both you and your employer make
contribuons to your dened benet.
Plan 3 dened benet: 1% x your SCY x your
AFC. Your employer makes contribuons to the
dened benet part of your plan.
Dened contribuon: For Plan 3 members, an amount
based on your contribuons and the performance of
the investments you choose. Investment returns (both
gains and losses) are applied to your account.
Early rerement: In most cases, if you rere before
you turn age 65, your monthly benet is reduced to
reect the fact that you will receive it over a longer
period of me. The amount of the reducon depends
on how much younger than age 65 you are when you
rere and the amount of service credit you have.
Full rerement: For all members, a rerement benet
that is not reduced because you rered from public
service at age 65.
Interest or interest rate: An amount that your
contribuons earn.
Normal rerement: The age you’re entled to receive
a full rerement benet.
Pension: Your rerement benet.
Porolio: A collecon of investments.
Return: A measure of how your investments perform.
Returns consist of interest, dividends, and gains or
losses in the value of the principal. Your investment
returns can be posive or negave.
Risk: The probability that an investment will lose value
or fail to gain in value.
Service credit years (SCY): We calculate your service
credit years by dividing your total service credit
months by 12. Twelve months equals one year of
service credit. For more informaon about service
credit earned for your system (PERS, SERS or TRS), see
your member handbook.
Vested: The point at which you have earned a dened
benet.
Plan 2 members are vested aer earning ve
years of service credit.
In Plan 3, you are vested aer earning 10
years of service credit in most cases or aer
ve years of service credit, depending on your
age and when your service credit was earned.
However, you have no vesng requirements for
the dened contribuon part of your benet
and may take distribuons at any me aer
you leave public employment.
Plan guides
Every Plan 2 and Plan 3 system (PERS, SERS,
TRS) has a member guide. Find your guide
under Members at drs.wa.gov.
Member Information Form
This form is for new and returning employees
hired into retirement-eligible positions for PERS,
SERS or TRS. Submit this form to your employer
within 90 days of your hire date.
Give completed form to your employer.
Need help? Contact DRS.
800.547.6657 or 360.664.7000
TTY: 711
www.drs.wa.gov
Member Status and System
Member status
New Member
Choosing Plan 2: Complete Sections 1, 2 and 3
Choosing Plan 3: Complete Sections 1, 2, 3 and 4
Returning Plan 1 or Plan 2 Member
Complete Section 1 only
Returning Plan 3 Member
Complete Sections 1, 3 and 4
System
TRS
Teachers’ Retirement System
SERS
School Employees’ Retirement System
PERS
Public Employees’ Retirement System
Choosing a plan? Visit drs.wa.gov/choice for info to help you decide.
Section 2: Retirement Plan Selection (new members)
Choose your plan. Your selection is permanent. Note: If your employer has not received your plan selection
within 90 calendar days of your hire date, you will be permanently assigned to the plan speci ed in state law.
Plan 2
Plan 3 — Also complete Section 4 on the back
Section 3: Signature Required (new and returning members)
Sign and date this form on the day you submit it to your employer.
New member: I have chosen the retirement plan marked in Section 2. I understand that my retirement
plan selection is permanent. If I selected Plan 3, I have also completed Section 4 on the back of this form.
Returning Plan 3 member: I have completed Section 4 on the back of this form. I also understand that
returning Plan 3 members who do not select a contribution rate within 90 days will be assigned the
current default rate of 5%.
Signature Date
Section 1: Personal Information
Name (last,  rst, middle) Social Security Number
Mailing Address City State ZIP
Birthdate (mm/dd/yyyy) Gender (optional)
Male Female
Phone Number
Email Address
DRS MS 133 6/20
Clear Form
Return the completed form to your employer.
Section 5: To Be Completed by Employer
Employer Name and Mailing Address
Reporting Group
Employers: Mail the original of this form
to DRS only if Section 2 was required.
Department of Retirement Systems; PO
Box 48380; Olympia, WA 98504-8380
Section 4: Plan 3 Contribution Rate and Investment Program Selection
Plan 3 contribution rate. If you do not choose an option, your default will be Option A. Once established
by selection or default, you may change your rate option only with a change of employer or through the
purchase of optional service credit from work as a substitute teacher.
Age
Member
Contribution Rate
Option A
All ages 5.0%
Option B
Up to age 35
Ages 35 to 44
Ages 45 and older
5.0%
6.0%
7.5%
Option C
Up to age 35
Ages 35 to 44
Ages 45 and older
6.0%
7.5%
8.5%
Option D
All ages 7.0%
Option E
All ages 10.0%
Option F
All ages 15.0%
Plan 3 investment program. Choose one. You can change your investment selections at any time.
Use the target date fund for my age as part of the Self-Directed Program (SELF)
This option will automatically place you in the Retirement Strategy Fund that assumes you’ll
retire at age 65.
I will choose my Self-Directed Program Investments (SELF)
If you choose this option, your Plan 3 account will need to be created before you can select
investments. Once you submit this form and receive a letter that con rms your plan choice,
call 888-327-5596 or visit drs.wa.gov/login to choose your investments. If you do not choose
investments, your contributions will be invested in the Retirement Strategy Fund that assumes
you’ll retire at age 65.
Washington State Investment Board (WSIB) Investment Program
For more information about Plan 3 investments, including a complete list of available investments,
visit drs.wa.gov/plan3 or call 888-327-5596.
Your Social Security number is needed so DRS can report to the IRS any funds paid to you. DRS will not disclose your
Social Security number unless required to do so by law. See IRC sections 6041(a) and 6109.
Benefi ciary Designation
This form allows members, retirees, survivors,
legal-order payees and those separated from
service to name or update their bene t recipients.
Send completed form to:
Department of Retirement Systems
PO Box 48380 Olympia, WA 98504-8380
www.drs.wa.gov
800.547.6657
360.664.7000 TT Y: 711
DRS MS 100 1/20
*DRSMS100*
Personal Information
Name (Last, First, Middle) Social Security Number
Mailing Address City State ZIP
Date of Birth (mm/dd/yyyy) Phone Number Alternate Phone Number
Email Address
My Status (Check All That Apply)
Member (active or inactive): I am a DRS member who contributes (active) or has contributed to (inactive) a DRS retirement system
and/or participates in DCP.
Retiree: I am a DRS member who contributed to a retirement system and is now collecting a retirement bene t.
Survivor: I am receiving a bene t from a deceased DRS member’s or retiree’s account.
Legal-Order Payee:
I have been awarded a portion of a DRS retirement bene t.
Are you receiving money from someone else’s account?
Yes (Provide Name and Social Security Number Below) No
Account Holder’s Name (If Different from Above) Social Security Number (If Different from Above)
Retirement System and/or Program
Apply to All My Retirement Plans/Programs Washington State Patrol Retirement System (WSPRS)
Public Employees’ Retirement System (PERS) Law Enforcement Of cers’ and Fire Fighters’ Retirement System (LEOFF)
Teachers’ Retirement System (TRS) Public Safety Employees’ Retirement System (PSERS)
School Employees’ Retirement System (SERS) Judicial Retirement System (JRS)
Deferred Compensation Program (DCP) Judicial Retirement Account (JRA)
Important Information
Members can make this change quickly online at
www.drs.wa.gov/oaa
. Any current primary bene ciaries you’ve
named will appear. You can then edit them or even copy them to another retirement system or program. If
you use a paper form to submit your choices, only your primary bene ciaries will appear online until you add
contingent bene ciaries in your online account. If you decide to  ll out this paper form, please return it to DRS,
not your employer. If you make a mistake, please correct it and initial beside the correction.
Please complete the other side of this form as well.
Your Social Security number is needed so DRS can report to the IRS any funds paid to you. DRS will not disclose your
Social Security number unless required to do so by law. See IRC sections 6041(a) and 6109.
As a new employee, it is important that you choose your beneciaries when you select a retirement plan.
Select and update your beneciaries online or complete and mail this form to DRS.
Accessing your online account: Once your Member Information Form has been processed, create an account
at
drs.wa.gov/oaa
to view and update your beneciaries online.
Clear Form
Signature Required
Pay any funds related to my account to my primary bene ciary(ies) in the percentage(s) I chose or as required by law. If any
bene ciaries precede me in death, share their percentages equally among the remaining primary bene ciaries. If no primary
bene ciaries survive me, send any funds to my contingent bene ciaries. All the information I have entered is true and complete.
These changes replace any previous bene ciary choices I have made.
Signature Date
Benefi ciary Designation
Primary _____ %
Name (Last, First) or Full Name of Entity Mailing Address
Relationship Social Security Number Date of Birth City State ZIP
Primary _____ %
Contingent _____ %
Name (Last, First) or Full Name of Entity Mailing Address
Relationship Social Security Number Date of Birth City State ZIP
Primary _____ %
Contingent _____ %
Name (Last, First) or Full Name of Entity Mailing Address
Relationship Social Security Number Date of Birth City State ZIP
Primary _____ %
Contingent _____ %
Name (Last, First) or Full Name of Entity Mailing Address
Relationship Social Security Number Date of Birth City State ZIP
Instructions
You must name at least one primary bene ciary. Do not name yourself. If you pick more than one primary
bene ciary or more than one contingent bene ciary, the total percentage(s) for each category must add up to
100%. Use whole numbers (for example, 50% and 50% or 66% and 34%).
If you have more than four bene ciaries, attach a separate sheet with the same information as below; then sign
and date it. Alternatively, you can update your bene ciary information online.
If you die in the line of duty, your bene ciary(ies) could be entitled to a one-time, duty-related death bene t.
The same people you name below on this form will automatically be added as your bene ciary(ies) for this
bene t. If you want to name different people or put in different percentages, you can make those changes in
your online account at
www.drs.wa.gov/oaa
.
Important Defi nitions
Primary benefi ciary: A person or entity (for example, an estate, trust, charitable organization, etc.) you
choose to receive your money. After your death, we will pay all primary bene ciaries either equally or in the
percentages you chose. If you are married and name someone other than your spouse as your bene ciary,
retirement system laws may require DRS to pay your spouse. The total designation for your primary bene ciary
selection(s) must equal 100%.
Contingent bene ciary: A person or entity you choose to receive your money if both you and all your primary
bene ciaries die. The total designation for your contingent bene ciary selection(s) must equal 100%.
16  DRS Plan Choice Guide
To contact DRS
Plan
2
Plan
3
A one-part plan with a
guaranteed lifeme benet
(pension).
You and your employer both
fund the pension.
A two-part plan with a
guaranteed lifeme benet plus
an investment program you
select and contribute to.
Your employer funds the pension part;
you fund the personal investment part.
This publicaon is intended as an educaonal tool. It is not intended to advise or recommend specic investment
strategies. Members making this decision might want to seek professional nancial assistance.
This publicaon provides an overview of some features of Plans 2 and 3 for the Public Employees’ Rerement
System (PERS), School Employees’ Rerement System (SERS) and Teachers’ Rerement System (TRS). It is not
a legal document, nor is it a complete descripon of the law governing these plans. If there are any conicts
between what is wrien in this publicaon and what is contained in the law, the current law governs.
MulPCB 6/20
Write Email
Website
Call
HoursVisit
http://www.drs.wa.gov http://www.drs.wa.gov
http://www.drs.wa.gov http://www.drs.wa.gov
http://www.drs.wa.gov http://www.drs.wa.gov
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/map
http://www.drs.wa.gov/administration/contact
http://www.drs.wa.gov/administration/contact
http://www.drs.wa.gov/administration/contact
http://www.drs.wa.gov/administration/contact
http://www.drs.wa.gov/administration/contact
http://www.drs.wa.gov/administration/contact
mailto:drs.contact@drs.wa.gov
mailto:drs.contact@drs.wa.gov
mailto:drs.contact@drs.wa.gov
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
http://www.drs.wa.gov/oaa http://www.drs.wa.gov/oaa
360.664.7000
800.547.6657
TTY 711
Department of
Retirement Systems
PO Box 48380
Olympia, WA 98504
General inquiries:
drs.contact@drs.wa.gov
Send a secure message
through your online account:
drs.wa.gov/oaa
drs.wa.gov
You can also send email
through the Contact Us
page on the DRS website.
Monday - Friday
8 am to 5 pm
Pacific Time
6835 Capitol Blvd. SE
Tumwater, WA 98501
See the DRS website for
directions.