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888. 773. 7748 www. psers. state. pa.us Fax 717. 772. 3860 Mail Center Authorization For Direct Rollover Alternate Payee PSRS-1160 03/2015 Instructions The alternate payee must complete Part A. The financial institution must complete Part B. Return the form to the Public School Employees Retirement System PSERS at the above address. Commonwealth of Pennsylvania - Public School Employees Retirement System 5 N 5th Street Harrisburg PA 17101-1905 To.

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Employer Contribution Rate for FY 2023-24 The employer contribution rate for fiscal year 2023-2024 will be 34.00%. This is the first year-to-year decline in the rate in more than a decade. The rate applies to salary and wages earned from July 1, 2023 through June 30, 2024.

Class T-F members will receive an annual retirement benefit, payable monthly, under the following calculation: 2.5% x Final Average Salary x Years of Credited Service = Yearly Benefit under the Maximum Single Life Annuity.

Age 65 with at least three (3) years of credited service, or any age/service combination that totals 92 (“Rule of 92”) with a minimum of 35 years of service.

Class T-G is the default Membership Class in which you contribute the most to your DB component of your retirement benefit for the guaranteed highest monthly benefit at retirement. Class T-G also has the highest Employer DC Contribution Rate of the three Classes. No action is required to remain in Class T-G.

CLASS T-D SERVICE If you are a Class T-D member, you will receive an annual retirement benefit based on a 2.5% multiplier. The service eligible for this higher multiplier is school service. School service is defined as Pennsylvania public school service, or activated or intervening military service.

​Age 67 with at least three (3) years of credited service, or any age/service combination that totals 97 (“Rule of 97”) with a minimum of 35 years of service.

Participants do not become vested for the employer contributions until you have worked 10 years for the pension plan and 3 years for the investment plan. That means if you're no longer employed by the State System before fully vested, you only have the right to your contributions and interest.

On December 3, 2020 the PSERS Board of Trustees certified an employer contribution rate of 34.94% for fiscal year (FY) 2021/2022, which begins July 1, 20212. The 34.94% rate is composed of a 0.80% rate for health insurance premium assistance, 0.15% for Act 5 Defined Contribution, and a pension rate of 33.99%.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232