Mid-Career
Your PERA retirement account may be your greatest asset, which is why it’s important for you to understand more about the value of the benefit you’re earning. These resources will help you make the most of your PERA membership as you continue on your path toward retirement.
What You Need to Know
Giving your retirement a boost
- Consider purchasing service credit so you can retire earlier or receive a higher benefit amount. Depending on your situation, it may cost less to buy service credit now rather than later. You can estimate the cost to purchase by logging on to your PERA account and using the Purchasing Service Credit calculator.
- If you’re not already in a PERAPlus Plan, consider participating, and if you’re already in a PERAPlus Plan, think about increasing your contributions. You’ll never regret having more money in retirement.
Changing jobs
- If you get a new job at an employer that has PERA coverage, you will continue to build for your future retirement.
- If you leave for a new job that is not covered under PERA, you can still collect a benefit in retirement if you leave your account with PERA, or you can choose to take a refund of your contributions, interest and a potential match.
How PERA works with Social Security
- Most PERA members do not contribute to Social Security, which means you will not earn a Social Security benefit for the time you were employed at a PERA-covered job. If you’ve earned a Social Security benefit from other employment, you’ll receive benefit payments from both PERA and Social Security in retirement. These are separate benefits and neither affects the other.
Additional benefits from PERA
- All PERA members have survivor and disability benefits that are automatically included with membership in PERA and available at no additional cost. These benefits offer financial security for loved ones and income protection if you are unable to work.
- You can save even more toward your retirement by investing in the optional, low-cost PERAPlus 401(k) Plan.
- PERA also offers members the option to enroll in a voluntary life insurance program.
Next Steps
As you progress in your career and build your retirement, be sure to take advantage of the variety of resources PERA has to help you understand more about the value of the benefit you are earning.
- Use PERA calculators to begin planning for retirement.
- Attend PERA meetings and webinars.
- Consider increasing contributions to your PERAPlus Plan (if you participate) so you can continue to grow your retirement savings.
- Review and update your beneficiaries if needed.
- Think about enrolling in PERA’s Life Insurance Program during the annual enrollment held every April-May.
When to Contact PERA
By logging in to your PERA account, you can make changes to your information or you may call the PERA Customer Service Center at 800-759-PERA (7372).
- Update personal information (name, address, phone, and email).
- Add or remove beneficiaries.
- Request a refund or a rollover of your PERA account if you leave PERA-covered employment and don’t anticipate returning to a job in public service.
- Initiate a purchase of service credit.
