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Retiree Answers
A1. When are monthly benefit payments distributed?
Benefit checks are directly deposited into your bank account or mailed
from our Carson City office on the fourth working
day prior to the end of each month.
Return to Question.
A2. How will my PERS benefit be affected when I draw Social Security?
Your PERS benefit is not affected by Social Security. However, your
Social Security benefit may be affected because you receive a
PERS pension. The Government Pension Offset (GPO) and the
Windfall Elimination Provision (WEP) are the two Federal
Government regulations that may reduce your Social Security
benefit. We suggest you contact the Social Security
Administration using their toll-free number 800-772-1213
or visit their website at
www.ssa.gov to find out more
information.
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A3. How do I change my mailing address?
Retirees must print the
Change of Address for Benefit Recipients form
, make changes and return the form to PERS. Forms received by
the 14th of the month take effect the same month.
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A4. Are there limitations on working after I retire? What are the limitations?
Only if you work for a Public Employer in the State of Nevada.
Please refer to the "Re-Employment After Retirement" section
of our
Pre-Retirement Guide
. Members who have been approved
for a disability retirement must receive Board approval before
accepting any employment and should refer to our
Disability Benefit Recipient Document
for more detailed information.
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A5. I am receiving a retirement benefit, how can I
change my federal income tax deduction?
Print and complete the
Tax Withholding Certificate and return it
to one of our offices. Forms received by the 14th of the
month will take effect the same month.
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A6. How do I receive verification of the retirement option that I selected when I retired?
Retiree account information is not currently available online. Please contact one of our offices and ask to speak with a counselor.
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A7. How do I change my direct deposit instructions for my retirement check?
Print and complete the
Authorization Agreement for Automatic Deposit
form and return it to one of our offices. Forms received
by the 14th of the month take effect the same month. Due to
our pre-notification process, you will receive your monthly
check by mail for that month only, and then the following
month, we will direct deposit your benefit into the new
bank account.
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A8. How can I get a duplicate 1099R form?
Contact one of our offices and request a Duplicate 1099R form, and one will be mailed to you.
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A9. When do I begin receiving post-retirement increases on my retirement benefit?
Once you have been drawing a benefit for three full years you are entitled to post-retirement increases. The increases
begin at 2% in each of the fourth, fifth, and sixth years; increase to 3% in years seven, eight, and nine; 3.5% in years
ten, eleven, and twelve; 4% for years thirteen and fourteen; and 5% in year fifteen and each year thereafter.
Post-retirement increases are paid in the month following the month in which you retired.
Occasionally, post-retirement increases are lower than the percentages listed above. If your benefit outpaces inflation for
any year during the period since your retirement date, your increase may be capped for, that year, by a rolling three year
average of the Consumer Price Index (All Items).
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A10. I am the Alternate Payee on my ex-spouses account, how do I access this information?
Currently, Alternate Payee's may get their account information by contacting one of our offices
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A11. What does the term "Owner" mean?
Owner is the title used in the account validation or setup process to describe the retire.
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A12. What does the term "Beneficiary" mean?
For the purposes of accessing an account online, beneficiary is the description for the person in the following scenario.
The Owner retired, named you as the "beneficiary" under one of the options 2 through 7 and has since passed away.
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A13. What does the term "Spouse" mean?
For the purposes of accessing an account online, spouse is the description used in two different scenarios. 1) The husband
or wife of a member who passes away prior to retirement. Due to the members passing away, you are currently receiving a
lifetime benefit under this account. 2) The owner retired from the police and fire retirement fund, selected the Unmodified
Retirement Option 1 and you were the spouse married to the owner at the time of retirement.
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A14. What does the term "Student" mean?
For the purposes of accessing an account online, student is the description used to indicate the surviving child, who is
now over the age of 18 and a full time student, of a member who passed away prior to retirement.
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A15. What does the term "Child or Dependent Child" mean?
For the purposes of accessing an account online, this description is used to indicate the surviving child, who is still
a minor, of a member who passed away prior to retirement.
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A16. What does the term "Survivor Beneficiary" mean?
For the purposes of accessing an account online, this description is used to indicate the person receiving the lifetime
benefit that would have been available to the spouse of a member who passed away prior to retirement.
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A17. May I change my named beneficiary after I retire?
After you retire, you may not change your beneficiary. However, if you wish to change to the Unmodified Option, you may do
so with the concurrence of your spouse; however, the change is not retroactive. Or if your beneficiary under one of the
Options 2 through 7 predecease you, your monthly benefit would be adjusted to the Unmodified Option at the beginning of the
next month upon receipt of a certified copy of your beneficiary's death certificate. You cannot change from the Unmodified
Option to any other plan after you have retired.
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A18. I received my 1099r tax form and have a total indicated in Box 5, what does that total represent?
Box 5 represents the amount of your benefit received that year that is not subject to taxes. If you compare the difference
between Box 1 (gross distribution) and Box 2a (taxable amount) that difference is indicated in Box 5.
Return to Question.
Active Member Answers
A19. How is my benefit calculated when I retire?
Your service credit is multiplied by the service time multiplier
(2.5% for each year completed prior to July 1, 2001 and
2.67% for each year completed on or after July 1, 2001).
The total percentage earned is then multiplied by
your average compensation.
Return to Question.
A20. When did the maximum benefit percentage change from 90% for
36 years of service to 75% for 30 years of service?
The change became effective July 1, 1985. Members hired before
July 1, 1985 may still work up to 36 years and receive 90% of their
average compensation. Those hired on or after July 1, 1985 may work
30 years and earn a maximum of 75% of their average compensation.
Return to Question.
A21. How does the 75% at 30 years of service compute with the new rate of 2.67%?
Service credit earned before July 1, 2001, will be calculated using
the 2.5% multiplier. Service credit earned on or after
July 1, 2001 will be calculated using the 2.67% multiplier.
Members may reach the 75% Service Time Factor before completing
30 years of service.
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A22. What is average compensation?
The average of a member's 36 consecutive months of highest
compensation as certified by the public employer.
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A23. What does it mean to be vested?
Vesting refers to the time period necessary for you to earn the
right to receive a retirement benefit. For example, once you
have attained 5 years of service we consider you "vested"
in the system and eligible to receive retirement benefits
at age 65. Vesting also occurs at other time periods such
as 10, 20, 25 and 30 years, which makes you eligible to
receive benefits earlier than age 65.
Return to Question.
A24. When are Member Annual Statements issued?
Member Annual Statements are issued in yearly cycles for each of the
public employers. If you wish to obtain current information
regarding your account before your next Member Annual Statement,
you may set up a username and password to access the information
via this website.
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A25. I need a letter stating what is in my account because I'm refinancing my house. How do I get it?
Please contact our Counseling Services Division or Las Vegas Office and request a letter.
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A26. Can I borrow against my PERS account to buy a home?
No. There are no statutory provisions for members to borrow against their retirement accounts.
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A27. How will an increase in retirement contribution rates affect me?
If you are under the Employee/Employer Contribution Plan, the
retirement deduction from your paycheck will increase. If you are
under the Employer-Pay Contribution Plan, your portion of the
increase will either be paid through salary reduction or in
lieu of a pay increase depending on the employer for whom you work.
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A28. How do I change my mailing address?
Active members may print the
Change of Personal Information form
, make changes and return the form to PERS. Active members may
also change their address online by logging into their account
and clicking the "Address & Phone Number" link.
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A29. How do I find out who I have listed as my beneficiary?
Log into your account using the username and password you selected.
Click on "Account" to see your beneficiaries and their relationships.
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A30. How can I change my beneficiary?
Print out the
Survivor Beneficiary Designation form
, complete your changes and return the form to PERS.
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A31. What's in my account?
Log into your account and click on "Account". The amount of money
that has been contributed, your accumulated service
credit and designated beneficiaries will be displayed.
If you would like to see your account details you can
click on "Account Details" and see the yearly or monthly
transactions reported by your employer.
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A32. What is the difference between the EES/ERS and ERPAID
compensation plans? How does the choice of plan
affect my retirement benefit?
Under the EES/ERS (Employee/Employer Contribution Plan) the member
pays 50% of the retirement contributions and the employer
pays 50% of the contributions. If you terminate employment,
you are entitled to refund any money you personally paid
into the system. Under the ERPaid, (also known as EPC,
Employer Pay Contribution Plan) the employer pays 100%
of the retirement contributions, and they are not
refundable to you upon termination of employment.
In addition, your average compensation is adjusted
at the time of retirement if you are under the ERPaid
Contribution Plan. Regardless of which plan you are
under, your retirement benefit is calculated in the same manner.
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A33. When is my anniversary date? 25 year date? 30 year date?
Please contact one of our offices and we can calculate the date for you.
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A34. I have accepted a position for a Nevada public employer, is it
possible to transfer my service from another public
retirement system into PERS?
No. Nevada does not have reciprocity rights with any other state.
Return to Question.
A35. What is the value of my account for a divorce?
PERS does not place a value on your retirement account.
PERS will provide you with an estimate of retirement benefits,
which you can take to an Actuary or Certified Public
Accountant to have the value determined and be utilized
in the negotiation process of your divorce. We
highly recommend you review our
Divorce and Your PERS Retirement
publication for more detailed information.
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A36. What is the difference between a regular retirement benefit and a disability
retirement benefit?
Regular (or service) retirement benefits are calculated in the same manner.
The only difference is that the disability benefit is not reduced for retiring
early.
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A37. I am getting ready to retire, what steps do I take?
Six to eight months before your intended retirement date, we
recommend you review the
Pre-Retirement Guide publication and
obtain an estimate of your retirement benefit either through
the website or by contacting one of our offices and requesting
one. Up to six months before your intended retirement date,
you will need to complete and return an Application for
Retirement Benefits. Applications can be mailed to you
or are available in our offices. Counselors are
available to assist you in completing your application
in both our Carson City and Las Vegas offices, or you
may mail in your completed application directly to our
Carson City office.
Return to Question.
A38. When can I retire?
At age 65 with at least 5 years of service, at age 60 with at least
10 years of service and at any age with at least 30 years
of service. For Police/Fire members: at age 65 with at
least 5 years of service, at age 55 with at least 10
years of police/fire service, at age 50 with at least
20 years of police/fire service, at any age with at
least 25 years of police/fire service, and at any
age with at least 30 years of combined police/fire &
regular service. If you retire before the minimum
eligible age listed, your benefits will be reduced by
4% for each year you are under that minimum eligible age.
Return to Question.
A39. If I am a part-time employee, do I get 1 full year of service
credit or is it 1/2 year of service credit for each year worked?
As a part-time employee member of PERS, you earn service credit
for years, months and days actually worked. For example, if you
work half-time for one calendar year, you earn six months of
service credit. However, special vesting rules apply for
part-time employees. If you work at least half-time for one
calendar year, you receive one full year toward vesting.
Specific rules apply to school district employees. The
Summary Plan Description for Part-Time Employees
publication provides more detailed information.
Return to Question.
A40. Explain how the 4/3rds service credit works for school district employees.
School district employees who work less than 12 months earn a day
and a third for each day worked. For example, if you work full-time
for a traditional 9-month school year, you will earn one full year
(12 months) of service credit when the 4/3rds is applied to your account,
no more than 12 months in a year can be credited to your account.
Return to Question.
A41. What is service credit? How do I earn service credit?
Service credit is the accumulation of the actual years, months
and days you worked or were paid by your employer. Service is
based on hours or salary earned as reported by your employer.
Service credit is not earned for any periods of leave without pay (LWOP).
Return to Question.
A42. Where can I find out how much service credit I have?
Create a username and password and then log into your account
to see your accumulative service credit. You may also call
one of our offices and request to speak with a counselor,
or review your service credit on your Member Annual Statement.
Return to Question.
A43. How do I know if I have a survivor beneficiary on file at PERS?
Log in to your account and look at your designated beneficiaries.
If any of your beneficiaries have the relationship of
"Survivor Beneficiary", you have completed the form. You
may also call one of our offices and a counselor can
verify receipt of your form. If you haven't completed the
form, or need to change your information, print out and
complete the
Survivor Beneficiary Designation and return it to
one of our offices.
Return to Question.
A44. Why do I need to designate a survivor beneficiary if I am married?
A Survivor Beneficiary applies to both married and single members
who have not retired. In the event of simultaneous death of
you and your spouse, your designated Survivor Beneficiary will
receive the lifetime benefit your spouse would have received.
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A45. If I am terminated by my employer or I quit, do I lose my future retirement benefit?
As long as you do not take a refund of employee contributions, your
service credit will not be cancelled. The service credit you
earned as of the date you stopped working will remain in the System.
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Refund of Contributions Answers
A46. Several years ago I took a refund of my personal contributions,
how do I pay this back and restore the service credit?
Once you have been re-employed by a Nevada public employer and
earned six months of service credit, you can repay your refund.
Please contact one of our offices and we can provide you with
an estimate of what it will cost. When you decide that you
would like to repay the refund, request a Repayment Agreement
and select the payment method: lump-sum, payroll deduction
with interest, or a lump-sum rollover from a qualified tax-deferred plan.
Return to Question.
A47. I have terminated with my employer, how do I get a refund of my contributions?
You must complete a Refund Request Form. This form is
available through one of our offices.
Return to Question.
Purchasing Service Answers
A48. How do I purchase service?
Once you have obtained 5 years of service credit, you can purchase
up to an additional 5 years. To get an idea of what it will
cost, you can use the
OSC Estimator
or you can log-in to your
account and click on "Service Credit Purchase Estimate".
Once you decide to purchase, please contact one of our
offices and request a Purchase of Service Agreement,
and select the payment method: lump-sum, payroll
deduction with interest, or a lump-sum rollover from
a qualified tax-deferred plan.
Return to Question.
A49. How much does it cost to purchase service?
The cost is approximately one-third of your yearly salary to purchase 1 year of service.
Return to Question.
A50. What is the payoff on my purchase of service agreement?
Please contact one of our offices and request a payoff amount for your agreement.
Return to Question.
A51. What type of money can I roll over to PERS to purchase service
or repay withdrawn contributions? How do
I roll over money to PERS?
PERS will accept direct rollovers from qualified annuity
and IRA plans described in sections 401(a), 403(b), and 457(b)
of the Internal Revenue Code. You must enter into a Rollover
Agreement with PERS to either purchase service or repay
withdrawn contributions.
Return to Question.
Survivor Benefits Answers
A52. How do survivor benefits work?
If you die before you retire, your survivors are paid
monthly survivor benefits based upon your years of service at
the time of your death. Survivors include a spouse or designated
survivor beneficiary, and dependent children who are under the age
of 18 at the time or your death. A lifetime benefit is paid to the
spouse or survivor beneficiary. Dependent children are paid their
benefit until they reach age 18 or 23 if they remain unmarried,
full-time students.
Return to Question.
A53. How does my selection of beneficaries affect my retirement
benefits in the event I die before I retire?
Named beneficiaries in the Beneficiary Designation section of the
Survivor Beneficiary Designation form
will receive any remaining employee contributions in a one-time
payment in the event there are no family beneficiaries or designated
survivor beneficiaries eligible for monthly benefits. If more than
one beneficiary is named, contributions will be divided equally
unless otherwise specified by you.
Return to Question.
A54. Are step-children eligible for survivor benefits?
No. Only children who are the progeny or biological offspring,
or children who have been legally adopted by the deceased member
are eligible for survivor benefits.
Return to Question.
Disability Retirement Answers
A55. What happens if I become disabled?
If you have at least 5 years of service credit, you may apply
for a Disability Retirement as long as you are still employed
with your public employer. We strongly recommend you read
our
Disability Retirement Guide.
We also recommend you contact one of our offices and speak to a
counselor and request an estimate of benefits under a Disability Retirement.
Return to Question.
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