Your retirement benefits will be paid on an accrual basis. This means if you retire effective January 1, your first benefit will be due to you February 1. PERS makes every effort to start your benefit on the due date, but if PERS encounters delays in gathering information necessary to calculate your benefit, payment may not be made for 60 to 90 days after your effective retirement date. Whenever you receive your first payment, it will be retroactive to your effective retirement date. PERS is required to pay retirement benefits within 62 days of the date your benefits become due or to provide an estimated payment.
Most retirees receive benefits in a timely manner but delays sometimes occur.
If possible, plan your finances so you will have income in the event of a delay. You may be eligible to purchase additional service time. See your benefit estimate and your PERS Member s Handbook for details. Additional service time may entitle you to enhanced benefits. Under certain conditions you may also be entitled to lower-cost or subsidized health insurance.