Getting married after retirement may give you a one-time opportunity to add your new spouse as your survivor for your pension benefit. But there are specific rules and deadlines you’ll need to know about. We sit down with Kumano to chat about who may be …
Only Washington State Patrol (WSP) retirees are affected by this notification. The Department of Retirement Systems has received a public records request from Geoffrey Jacobson, including a signed Declaration of Non-Commercial Purpose. Jacobson requested …
Did you know that you started earning a pension benefit when you were hired into public service in Washington state? If you didn’t know until just now, we understand. A new job can be overwhelming – loads of information is served up to you all at once. You …
Planning a trip outside Washington? If you’re retired and have PEBB retiree insurance, there are a few things you’ll want to know before you go. We chat with Laura from the Washington State Health Care Authority about how your coverage works when you’re …
DRS annuities are guaranteed income plans. They are in addition to your pension plan and not tied to market risk. Unlike some private annuities, you cannot outlive them, even if you’ve exhausted your balance. Once purchased, your DRS annuity will pay you …
Applies to: LEOFF Employers Subject: DRS Notice 26-010, Reporting of Non-LEOFF Employer Contributions (NLEC) Employer pickup of state contributions on LEOFF Plan 2 non-employer services Does your agency ever charge a fee or recover costs for services …
Paycheck increase allows for more savings At the end of July, state employees may notice a 2% increase to their paycheck…. Be wary of elder fraud scams As part of the stages of life, many of us find ourselves caring for elderly… Leaving employment before …
Getting married is an exciting life milestone. It’s also a good time to review your retirement account. Whether you’re still working or already retired, marriage can affect your beneficiaries, survivor options and, in some cases, your pension benefits. …
Medicare doesn’t cover every health care expense, but the PEBB retiree insurance can help fill some of the gaps. Additional benefits can include chiropractic care, massage therapy, physical therapy, vision, hearing and naturopathic care. Tune in to find …
Applies to: School Districts, Charter Schools, Tribal Schools, Educational Service Districts Subject: DRS Notice 26-009, Return to work retirees must wait 30 days to avoid a reduced pension Return to work retirees must wait 30 days to avoid a reduced …
If you’re a new public employee, school employee or teacher, you have 90 days to choose between two retirement plans: Plan 2 or Plan 3. The decision you make is permanent, but don’t worry; we have the resources you need to help you select which plan is …
There are a lot of ways to save for retirement, including pretax and Roth contributions, IRAs, and Washington’s Deferred Compensation Program (DCP), also known as a 457 plan. In this episode, we break down the differences, explain tax and withdrawal rules …
Applies to: All Employers Subject: DRS Notice 26-008, Responses to Requests for Employer Information (RFEI) DRS commonly requests specific information from employers when performing account actions to obtain new information or to clarify our understanding …
We often get calls from members and retirees who are worried that their pension benefits will run out. In today’s financial climate, it’s no wonder. The good news is DRS plans are designed to last through your lifetime. Bev Hermanson knows this very well …
Administrative Factors for 2027 are now available. These factors will apply to new retirements with an effective date of Jan. 1, 2027, or later. Administrative factors are determined by the Office of the State Actuary and are based on demographic and …
What is the Demographic Experience Study and how does it influence Washington State pensions? We sit down with Frank, one of the actuaries who worked on the study. Turns out, there were small shifts in male and female life expectancy and a trend toward …
At the end of July, state employees may notice a 2% increase to their paycheck. This increase is thanks to legislation that passed in April 2025 and is intended to help you with the cost of inflation. One of the best things about getting a paycheck …
Applies to: All Employers Subject: DRS Notice 26-005, Reporting Accurate Separation Dates and Using a Retirement Checklist Understanding and reporting accurate separation dates for your retiring employees is crucial. To separate from service means a member …
Retiring before age 65 is a goal for many people, and this summer DRS accounting team member Tracie is doing just that. She shares the steps she took to prepare, including creating retirement estimates, paying off debt and using her DCP savings to purchase …
As part of the stages of life, many of us find ourselves caring for elderly family members. It can be a stressful, challenging endeavor in the best of times. It’s especially troubling if an elderly family member becomes the victim of fraud. June is Elder …
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