Students who want to be exempt will need to complete a PERS exemption form to exempt them from membership. This form can be obtained from the Financial Aid Office or from the Payroll Office. This reduces the employee's taxable income and their tax liability. PERS is a defined benefit plan which will pay a retirement benefit based on the number of years of service and the employee's final average salary. The plan will also allow an employee to retire with 30 years service at any age.
PERS also has survivor and disability protection for the employee.
Employees terminating employment with the University can apply for a refund of their contributions. Terminating employees can contact the Payroll Office or PERS and request a refund form. This form has a section to be completed by the member and then it must be forwarded on to the Payroll Office to complete our section. PERS will then forward the refund directly to the member. Current employees with less than 5 years service will also have a one-time opportunity to switch from the state system to one of the alternate carriers.