What is the difference between the EES/ERS and ERPAID compensation plans? How does the choice of plan affect my retirement benefit?
Under the EES/ERS (Employee/Employer Contribution Plan) the member pays 50% of the retirement contributions and the employer pays 50% of the contributions. If you terminate employment, you are entitled to refund any money you personally paid into the system. Under the ERPaid, (also known as EPC, Employer Pay Contribution Plan) the employer pays 100% of the retirement contributions, and they are not refundable to you upon termination of employment. In addition, your average compensation is adjusted at the time of retirement if you are under the ERPaid Contribution Plan. Regardless of which plan you are under, your retirement benefit is calculated in the same manner. Return to Question.
Related Questions
- Does the Deferred Compensation Plan affect my service retirement benefit from a retirement plan administered by PERS or my Social Security?
- What is the difference between the EES/ERS and ERPAID compensation plans? How does the choice of plan affect my retirement benefit?
- Does my participation in the 457 deferred compensation plan affect my Reading retirement benefit in any way?
