What type of plan is the PERS?
For employees who first entered prior to July 1, 2006, the Public Employees’ Retirement System (PERS) is a defined benefit plan which is designed to offer a lifetime monthly benefit once retirement eligibility is reached. Your retirement from the plan, provided you do not refund your contributions, will be determined by a formula defined in statute. Unlike a defined contribution account, your benefit is not based on the amount of money in your contribution account. The PERS is administered by the Division of Retirement and Benefits. The division director is the administrator of the plan.
