In 1939, public agency and non-teaching school employees were allowed to participate. PERS membership is divided approximately in thirds among current and former employees of the state, schools, and participating public agencies.
PERS is a defined benefit retirement plan.
It provides benefits based on a member's years of service, age, and highest compensation. In addition, benefits are provided for disability and death, with payments in some cases going to survivors or beneficiaries of eligible members. At the end of each fiscal year, interest is credited to the accumulated contributions and interest in each member's account. Employer contributions help fund the benefits payable to members and their beneficiaries. Service Credit Service credit is the accumulated period of time, in years and partial years, during which you receive creditable compensation for service as a member.