Expand AllClick here for a more accessible versionYou can obtain additional copies of your Statement of Account through the PSERS Member Self-Service (MSS) Portal. You must have established an MSS account to view or print a copy of your statement.
Comparisons
Plan Feature |
Class T-G and Class T-H |
Class DC |
DB |
DC |
DC |
Mandatory
contribution rate
Your Current Contribution Rate Does Not Change | Class T-G: 5.5% Class T-H: 4.5% | Based on the rate on 7/1/19 (total rate minus basic rate) | Based on the rate on 7/1/19 |
Shared Risk/Gain | T-C and T-D members – no T-E and T-F members- yes | N/A | N/A |
Employer
Contribution Rate | Actuarially determined | Class T-G: 2.25% Class T-H: 2.00% | 2.00% |
Multiple Service | Multiple service status not affected | N/A | Multiple service status will only apply to the prior membership class. Future service as Class DC will not accrue for multiple service purposes |
Purchases of Service | Purchases credited to member's class at the time of purchase. Non-school purchases, except military, at the full actuarial cost. | Not Permitted | Not Permitted |
Vesting | 10 years. Service from all classes count | Participant $ - immediately; Employer $ - 3 eligibility pts as a DC Plan participant. | Participant $ - immediately; Employer $ - 3 eligibility pts as a DC Plan participant. |
Retirement Multiplier | Class T-G: 1.25% for service after 1/1/2020 Class T-H: 1.00% for service after 1/1/2020 | N/A | N/A |
FAS calculation | Highest 3 for prior service Highest 5 years for service after 1/1/2020 | N/A | N/A |
Disability | 5 years of PSERS service, including service from all current and previous classes. | No DC disability, but eligible by virtue of DB membership | No, unless qualified on the DB side prior to election, injury occurred while a DB member, and timely DB application is submitted. Only a DB benefit can be calculated. |
Superannuation | For new service after 1/1/2020, earlier of: -Age 67 with 3 eligibility points, OR -Rule of 97 with at least 35 eligibility points.
(Class T-G Only) Service from all classes count. | N/A | N/A |
You will not receive a statement if:
- You are retired.
- You have been paid a refund of your contributions and interest.
- You have an incorrect address on file with PSERS.
- You terminated employment more than two school years ago, prior to being vested.*
- Your employer(s) has not completed the reporting for the school year.
PSERS must wait until your employer has submitted all monthly work reports for the entire reporting year (e.g., July 2014-August 2015) before statements can be generated for that school's employees. If you have more than one school employer, you will not be issued a statement of account until all of your employers have completed their reporting.
If you are working in a Pennsylvania public school and you're not receiving your statement, please contact PSERS.
*Please refer to the Active Member Handbook located under "Publications" on our website for details on vesting requirements
DB Present Value1 | DC Acct Value2 |
Class T-C (DB Only) | 3- year FAS x 2.00% x years of service | $743,930 ($46,429 Annual Pension
for life) | N/A |
---|
Class T-D (DB Only) | 3- year FAS x 2.50% x years of service | $929,913 ($58,036 Annual Pension
for life) | N/A |
---|
Class T-E (DB Only) | 3- year FAS x 2.00% x years of service | $532,632 ($46,429 Annual Pension
for life) | N/A |
---|
Class T-F (DB Only) | 3- year FAS x 2.50% x years of service | $665,790 ($58,036 Annual Pension
for life) | N/A |
---|
Class T-G (DB+DC) | 5- year FAS x 1.25% x years of service + DC Account Value | $323,391 ($28,190 Annual Pension
for life) | $215,190 |
---|
Class T-H (DB+DC) | 5- year FAS x 1.00% x years of service + DC Account Value | $284,584 ($24,807 Annual Pension
for life) | $215,190 |
---|
Class DC (DC Only) | DC Account Value | N/A | $408,861 |
---|
Assumptions
*Member assumptions: $25,000 starting salary with 3% annual increases, working for 35 years and receive a normal retirement.
1 -
PSERS DB Plan assumptions: 5-year FAS of $64,433, 3 -year FAS of $66,327, and earns a guaranteed 4% on contributions and interest. Member chooses not to withdraw any contributions.
2 -
PSERS DC Plan assumptions: 26 pay periods per year and a consistent 6% net growth each year.
This rate of return is not guaranteed.
PSERS will mail your statement after receiving your salaries, contributions, and annual service information from your employer for that school year. This process begins early September and ends by December 31, unless the reporting from your employer(s) is delayed. If you work for more than one employer, PSERS must receive the information from all of your employers before the statement is mailed.
When you receive your statement, please take a moment to verify the information provided, such as your birth date, years of service, spelling of your name, and mailing address. Any adjustment or purchase of service transactions posted after the statement generation date will appear on the following year's statement.
Please note, not all sections will display on your statement. Sections marked with *** will not display on all statements. Click [+] to expand each section.
Beneficiary Information
Your primary beneficiary(ies) is listed unless you requested confidentiality when you completed a Nomination of Beneficiaries (PSRS-187) form. Space is limited to ten beneficiaries so a complete list of your beneficiaries may not appear if you exceed this number. Secondary beneficiaries are not displayed. In the event of your death, PSERS will refer to the original Nomination of Beneficiaries form which contains all of the information provided to determine the payment of any death benefit.
If there is no valid designation at the time of your death, PSERS will pay any death benefit to your estate or next of kin.
A misspelling of a beneficiary's name can be corrected by contacting If you wish to change any other information for your
beneficiary(ies), you must submit a new Nomination of Beneficiaries form to PSERS.
Personal Data
If you are an active member, any changes should be directed to your employer because PSERS records for active members are updated by the employers.
If you are no longer actively working, corrections or questions should be directed to PSERS.
Information reported by the employer
PSERS defines a school year as work performed between July 1 and June 30. It is not based on when compensation is provided for work performed but when the actual work occurred. Thus, as long as you performed the work prior to July 1, your service will appear on your statement.
The information in the table reflects the value of your account at end of school year (June 30, YYYY). Purchases and
adjustments are reflected as of the date the statement is printed. This date is displayed at the top right corner of your
statement.
Purchase of service payments and service credits are identified on your statement's purchase of service row the year the transaction was made. Once the information becomes part of the Ending Balance June 30, YYYY, the values are no longer identified in the purchase of service row on the statement, but as part of the total.
Taxable Contributions are tax-deferred. They include regular contributions made after December 31, 1982, and purchase of service payments made at any time via a rollover. You do not pay federal tax on this money until you withdraw these contributions. If you do not see contributions listed under Investment in Contract Pre-87 Contributions and/or Investment in Contract Post-86 Contributions as defined below, all of your contributions are taxable
Anyone who became a contributing member of PSERS on or after January 1, 1983, will have contributed all taxable contributions, with one exception – payments made to purchase service credit.
All of your Contributions are taxable unless you have Post-86 and/or Pre-87 Investment in Contract Contributions (see
"Investment in Contract Contributions"). You have already paid federal tax on these contributions so they are considered "Pre-Taxed."
If you have Investment in Contract Contributions, the taxable portion of your Contributions is your total Contribution minus the sum of your Post-86 and Pre-87 Investment in Contract contributions.
Since not all of your contributions were in your account for the full year, PSERS prorates the current year's contributions at a rate of two (2) percent interest for the entire school year, regardless of when PSERS receives the money in the current year. All prior contributions and interest in your account earns four (4) percent interest compounded annually. Non-vested members who are terminated will not receive interest.
Additional Account Information
Page 4 will only display information if you:
Owe money to PSERS.
Elected and were granted Multiple Service.
Returned to service after retirement.
A "Debt Summary" will be displayed if you owe any money to PSERS. It includes purchase of service credits, overpayment of benefits, elimination of the effects of a frozen annuity.
Values in the Debt Summary may include payment amounts up to the time your statement was generated, whereas values in the "Breakdown of Your Account" are based on when the school year ended, June 30
When an adjustment is made after the generation of your Statement of Account, that adjustment will appear on next year's statement.
If your employer reported an adjustment to PSERS, PSERS only communicates the effects of the adjustment on your statement. There could be decimal rounding issues because your employer payroll time frame is different from PSERS collection cycle
PSERS does not generate revised statements. When an adjustment is made after the statement's generation by an employer or PSERS, the adjustment will be reflected in the following year's statement of account. A letter of explanation will be provided upon request.
If you need up-to-date information than what appears on your most recent annual statement of account, you may submit a PSERS Verification of Deposit (PSRS-1326) form. This form is available on our website. Most requests are processed within 3 – 5 business days.