Get PA PSRS-1012 2012-2024

Multiple Service membership allows you to combine your PSERS service with SERS service (e.g., Department of Human Services, Department of Labor and Industry, Department of Transportation, etc.).

Multiple Service membership allows you to combine your PSERS service with SERS service (e.g., Department of Human Services, Department of Labor and Industry, Department of Transportation, etc.).

In most cases, yes. The PSERS pension monthly income provides you with consistent lifetime income. This is a great benefit, but it will lose value over time due to inflation.

In most cases, yes. The PSERS pension monthly income provides you with consistent lifetime income. This is a great benefit, but it will lose value over time due to inflation.

Refer to “Electing the Amount of Federal Withholding from Your DB Monthly Retirement Benefit” below for information on how to deduct federal taxes from your monthly retirement benefit. Monthly retirement benefit payments from PSERS are exempt from Pennsylvania state and local taxes.

Refer to “Electing the Amount of Federal Withholding from Your DB Monthly Retirement Benefit” below for information on how to deduct federal taxes from your monthly retirement benefit. Monthly retirement benefit payments from PSERS are exempt from Pennsylvania state and local taxes.

Employee (Member) contributions range from 5.25% to 10.80% of payroll depending on the class of membership of the employee and when they joined PSERS. Employees are expected to contribute an average of 7.44% of their salary to help fund their retirement benefit in FY 2023/2024.

Taxes and Your Contributions Mandatory contributions are excluded from your gross income for federal tax purposes only and are federally tax deferred. Class T-G, Class T-H and Class DC members may also elect to add after-tax contributions to their DC account.

Employee (Member) contributions range from 5.25% to 10.80% of payroll depending on the class of membership of the employee and when they joined PSERS. Employees are expected to contribute an average of 7.44% of their salary to help fund their retirement benefit in FY 2023/2024.

A refund is your only option if you terminate from all school service and you are not vested. You are eligible only for a refund if you are not vested. For vesting requirements, refer to "Becoming Vested." To request the application to receive a refund of your account, please contact PSERS directly at 1.888. 773.7748.

Taxes and Your Contributions Mandatory contributions are excluded from your gross income for federal tax purposes only and are federally tax deferred. Class T-G, Class T-H and Class DC members may also elect to add after-tax contributions to their DC account.

Taxation of Your Benefit Your PSERS monthly benefit is subject to federal taxes. Monthly benefit payments from PSERS are exempt from Pennsylvania state and local taxes. If you reside in another state, you must check with your state and local authorities to determine the taxability of the PSERS payments made to you.

A refund is your only option if you terminate from all school service and you are not vested. You are eligible only for a refund if you are not vested. For vesting requirements, refer to "Becoming Vested." To request the application to receive a refund of your account, please contact PSERS directly at 1.888. 773.7748.

If you do not name a beneficiary, or if your named beneficiary predeceases you, your benefit is paid to your estate. PSERS benefits paid to your beneficiary are exempt from state and local taxes if the beneficiary resides in Pennsylvania.

Colleges - Employees working for a community college, Penn State University, or other state-owned University may generally select a retirement plan from among a few plans, including PSERS.

The earliest possible age for retirement is 62, but the full retirement age is 67. If you choose to retire early at 62, your monthly payments will be lower. The Social Security Agency (SSA) determines if you're qualified for these benefits based on credits you earn through working.

Taxation of Your Benefit Your PSERS monthly benefit is subject to federal taxes. Monthly benefit payments from PSERS are exempt from Pennsylvania state and local taxes. If you reside in another state, you must check with your state and local authorities to determine the taxability of the PSERS payments made to you.

Any premium payments made with pre-tax or non-taxed funds are not eligible for Premium Assistance. As a reimbursement, Premium Assistance cannot exceed the retiree's actual out-of-pocket premium expense and is not treated as taxable income.

If you do not name a beneficiary, or if your named beneficiary predeceases you, your benefit is paid to your estate. PSERS benefits paid to your beneficiary are exempt from state and local taxes if the beneficiary resides in Pennsylvania.

Types of Retirement Systems in Pennsylvania If you are a state employee not in education, the SERS manages your pension. If you work in public education, PSERS manages your retirement savings.

Colleges - Employees working for a community college, Penn State University, or other state-owned University may generally select a retirement plan from among a few plans, including PSERS.

The earliest possible age for retirement is 62, but the full retirement age is 67. If you choose to retire early at 62, your monthly payments will be lower. The Social Security Agency (SSA) determines if you're qualified for these benefits based on credits you earn through working.

Any premium payments made with pre-tax or non-taxed funds are not eligible for Premium Assistance. As a reimbursement, Premium Assistance cannot exceed the retiree's actual out-of-pocket premium expense and is not treated as taxable income.

Types of Retirement Systems in Pennsylvania If you are a state employee not in education, the SERS manages your pension. If you work in public education, PSERS manages your retirement savings.