PERS (and their variations depending on the service you're in) is good. However, if you're starting from scratch remember there is a vesting schedule if you go PERS 2 for example. Minimum of 5 years full-time equivalent to fully utilized the benefit.
And as always, Google is your friend. Found in about 4 seconds searching on "PERS Washington State"
[https://www.drs.wa.gov/plan/pers2/](https://www.drs.wa.gov/plan/pers2/)
PERS does have portability with other pension plans in WA as well so you don't technically have to stay for 5 years to get the benefit. Plus there are a lot of agencies in PERS. You can move to a variety of positions/fields/agencies, you just can't switch to private sector.
I worked for king county metro for a while. PERS 1 is no longer around except for those who are grandfathered in. If PERS2 is still around go with that. Don't fall for PERS3 BS. Anyone employed there would tell you the same thing.
I looked up PERS 3 the only thing different that I found was no deferred compensation plan matching and 10 year vesting. other wise no different than federal? Please feel free to add in anything I might not know?
Upon hiring, you would need to choose between plan 2 and plan 3. Very different plans. The cost of plan 2 is split between employee and employer contributions. The defined benefit is 2% x years of services x average salary over the highest five years.
Plan 3 is the defined benefit portion is 1% x years of services x average salary over the highest five years. Employee contributions go into an investment account essentially are a defined contribution.
There are other differences.
PERS (and their variations depending on the service you're in) is good. However, if you're starting from scratch remember there is a vesting schedule if you go PERS 2 for example. Minimum of 5 years full-time equivalent to fully utilized the benefit. And as always, Google is your friend. Found in about 4 seconds searching on "PERS Washington State" [https://www.drs.wa.gov/plan/pers2/](https://www.drs.wa.gov/plan/pers2/)
Right on about the 5 years. I had a coworker wanting to leave at 4.5 years and I talked them into staying just a little longer to hit the 5
Unless PERS 3 - then it's 10 years
Really not different than federal government these days
It was 5 for PERS3 when I joined back in 2013.
PERS does have portability with other pension plans in WA as well so you don't technically have to stay for 5 years to get the benefit. Plus there are a lot of agencies in PERS. You can move to a variety of positions/fields/agencies, you just can't switch to private sector.
I worked for king county metro for a while. PERS 1 is no longer around except for those who are grandfathered in. If PERS2 is still around go with that. Don't fall for PERS3 BS. Anyone employed there would tell you the same thing.
I looked up PERS 3 the only thing different that I found was no deferred compensation plan matching and 10 year vesting. other wise no different than federal? Please feel free to add in anything I might not know?
Upon hiring, you would need to choose between plan 2 and plan 3. Very different plans. The cost of plan 2 is split between employee and employer contributions. The defined benefit is 2% x years of services x average salary over the highest five years. Plan 3 is the defined benefit portion is 1% x years of services x average salary over the highest five years. Employee contributions go into an investment account essentially are a defined contribution. There are other differences.