What is PSERS?
PSERS is a governmental, cost-sharing, multiple-employer retirement plan to which the public school employers, the Commonwealth, and school employees (members) contribute. Depending on your membership class, you may have a Defined Benefit (DB) Plan, a Defined Contribution (DC) Plan, or a hybrid with both DB and DC components.
- In PSERS DB Plan, the retirement benefit is based on a formula. The formula used by PSERS includes a pension multiplier, your credited years of service, and your final average salary. Class T-C, Class T-D, Class T-E, and Class T-F are defined benefit only plans.
- In PSERS DC Plan, the retirement benefit is based on the amount of contributions in your account and investment performance. Your DC contributions and earnings, if any, are available for you to withdraw when you terminate your employment or retire. Class DC is a defined contribution only plan.
- PSERS also offers membership classes with a hybrid of both DB and DC components. Class T-G and Class T-H have a retirement benefit based on a formula and a separate benefit based on DC contributions and investment earnings, if any.
New members of PSERS receive information from us explaining that an account was established for you and will list and ask you to verify your personal information, contact information, and employer information. You may also download a PSERS Active Member Handbook (PDF) and information about combining PSERS and State Employees’ Retirement System (SERS) employment.
In addition to the informational packet, Class T-E and Class T-G members will receive a separate letter notifying them of the opportunity to elect a new membership class. Members who wish to nominate a new membership class must do so within the specified time frame. Click here for more information on the Class Election process.
As a PSERS member, you’ll join with over a half million fellow public school employees who are also members of PSERS. You’ll contribute to your own personal PSERS retirement account and profit from having a safe, secure, and guaranteed benefit payment(s) from one of the largest public pension plans in the nation.
As a new member of PSERS, click on the links below for additional information that may be of interest to you -