RETIREMENT PLANS

Retirement rules are complex, so only a general description is provided here.  In general, employees who work 1/2 time or more are required to be a member of the Washington State Department of Retirement Systems (DRS) plans.  Visit the DRS website for specific information.
 
• Teachers' (TRS) Plan 1 - members include certificated employees of school districts who established membership prior to October 1, 1977.
• Teachers' (TRS) Plan 2 - members include certificated employees of school districts who established membership since October 1, 1977 and before July1, 1996.
• Teachers (TRS) Plan 3 - members include certificated employees of school districts who established membership since July 1, 1996.
• Public Employees' (PERS) Plan 1 - members include classified employees of school districts who established membership prior to October 1, 1977.
• School Employees' (SERS) Plan 2 - members include eligible classified employees of school districts who established membership since October 1, 1977 and before September 1, 2000.
• School Employees' (SERS) Plan 3 - members include eligible classified employees of school districts who established membership since September 1, 2000.

• Spokane Public Schools hosts a seminar to educate employees on Plan 3 about their investment and distribution options.  Presented by a Representative from ICMA Corporation, representing DRS.  Click here for a list of dates and times.

• Link to DRS www.drs.wa.gov
• Phone DRS at 1-800-547-6657, TDD line 1-360-586-5450
• District Payroll/Benefit Retirement Specialists
• Last Names beginning A-L: Cindy Sharp 354-7275
  cindysha@spokaneschools.org
• Last Names beginning M-Z: Patty Nevdahl  354-7282
  pattyn@spokaneschools.org
   

• New employees start in Plan 2 and have 90 days from date of hire to choose either Plan 2 or Plan 3.
  
  
• If forms are not submitted to Payroll within 90 days, you will be moved to Plan 3, with a 5% payroll deduction going into the WSIB investment program.
  
  
• Your plan choice decision, whether by your choice or by default, is irrevocable.  You will not be able to choose another plan in the future.

• Members hired prior to July 1, 2007 still have the option to transfer from TRS/SRS Plan 2 to Plan 3.  Transfers can be made only during the month of January.  Submit transfer request to Payroll by January 31.

• TRS 3 change of contribution rate.  This option is approved on a year to year basis by the IRS and may be revoked at any time.  Changes can be made during the month of January.  Submit change request to Payroll by January 31.  (This option is not available for SERS 3.)
  
  
  

• People who are contributing to retirement will receive Annual Statements in November via interschool mail.
• People who are not contributing to retirement via payroll (e.g. substitutes purchasing credit) must contact DRS to receive an Annual Statement.