Get PA PSRS-1165 2014-2024

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

You must complete an Application for Refund (PSRS-59) to receive a refund of your DB contributions and interest. If you are a Multiple Service member (have combined your SERS and PSERS accounts), you must apply separately to receive a refund from both SERS and PSERS.

You must complete an Application for Refund (PSRS-59) to receive a refund of your DB contributions and interest. If you are a Multiple Service member (have combined your SERS and PSERS accounts), you must apply separately to receive a refund from both SERS and PSERS.

You are responsible for paying the 10% tax on early distributions directly to the IRS. PSERS does not deduct the tax on early distribution from your lump-sum payment. (See IRS Form 5329.) To avoid this additional tax, you may choose to roll over your refund to an IRA or other eligible retirement plan.

You are responsible for paying the 10% tax on early distributions directly to the IRS. PSERS does not deduct the tax on early distribution from your lump-sum payment. (See IRS Form 5329.) To avoid this additional tax, you may choose to roll over your refund to an IRA or other eligible retirement plan.

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.

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.

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.

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.

The law mandates that all service and benefits payable to a PSERS member be forfeited if the member is found guilty of, or enters a plea of guilty or nolo contendere to, any crime identified in the Forfeiture Act, when the crime is committed through the member's position as a public employee or official or when the ...

The law mandates that all service and benefits payable to a PSERS member be forfeited if the member is found guilty of, or enters a plea of guilty or nolo contendere to, any crime identified in the Forfeiture Act, when the crime is committed through the member's position as a public employee or official or when the ...