New part-time salaried, part-time hourly, and part-time per diem employees have the option of waiving membership with PSERS. That is, choose not to participate and contribute to PSERS. To qualify to waive PSERS membership, you must have an individual retirement account such as a Traditional IRA, Roth IRA, Simplified Employee Pension (SEP), or a Savings Incentive match Plan for Employees of Small Employers (Simple) IRA.
You must contact your employer to request waiving your PSERS membership. You have until the end of the school year in which you wish to waive membership to exercise this option. PSERS recommends that this process take place within the first 30 days of being hired in order to avoid unnecessary withholding of retirement contributions. Your employer will submit your request to PSERS. Your employer will also ask to see verification of your individual retirement plan.
After your employer notifies PSERS of your request to waive membership, PSERS will send you a letter advising you that waiving membership in PSERS is not automatic, along with a PSERS Field Services Division form. This letter will advise you that waiving membership must be approved by PSERS and that you need to contact your PSERS Regional Office to review the waiver process and obtain the PSERS Membership Waiver (PSRS-51).
For the membership waiver to be binding, complete and return the Membership Waiver (PSRS-51) form by the due date stated on the form. If you do not return the Membership Waiver (PSRS-51) form by the date stated in the letter, you will be ineligible to waive membership.