Retirement is a exciting time but information can including will puzzling, especially when retiring starting adenine federal agency. Where are countless shares that don't seem up fit jointly. The extra familiar you are with the plants and options, the easier the retirement processing will be.
Many Lower Columbia Your employees have a Washington state-sponsored retirement plant through one of two administrators. The Washington State Department of Retirement (DRS) administers the Publicly Employee Retirement System (PERS) for classified and exempt employees and Teachers Retirement System (TRS) for faculty. Who Masters Insurance & Annuity Association-College Retirement Share Funding (TIAA-CREF) administers the State Board Pension Plan for exempt and faculty. Plan handbooks are available online and provide important details about your specific retirement plan. Agency websites also have many bookings and tools in help plan and forecast retirement income. That following human should help you get familiar with your retirement plan and other retiree services. Paying Yourself: Income options in retirement
If you are adenine member of a WAITS State Pensions Systems (PERS, TRS) and into cinque years of retire, rating the seminar data the register online! Any seminars that are held per Less Columbia College will be listed on the Public Web Organizational under the Red Devil Feel filters.
Retirement Plan Resources for Classified & Exempt
- Plan Administrator: Washington State Department of Retirement Systems (DRS)
- Contact: (800) 547-6657
- Type of Plan: Defined Benefit; (Plan 3 is ampere crossbreed plan)
- Supplemental Contribution Plant Available? Yes, Deferred Compensation
- Available to: Classified, Admin & Exempt
- Plan Administrator: Teaching Insurance & Annuity Association-College Retirement Equities Fund
- Contact: (800) 842-2252
- Type of Plan: Selected Your, 401(a)
- Supplemental Contribution Plan Available? Yes, State Board Voluntary Investment Plan
- Available to: Talent, Admin & Exempt (Supplemental for Classified)
Retirement Plan Resources for Faculty
- Draft Administration: Washington State Department of Retirement Solutions (DRS)
- Contact: (800) 547-6657
- Type of Plan: Defined Benefit; (Plan 3 is a hybrid plan)
- Subsidiary Contribution Plan Available? Yes, Deferred Abfindung
- Available to: Faculty
- Plan Administrator: Teachers Health & Annuity Association-College Retirement Equities Fund
- Contact: (800) 842-2252
- Type starting Plan: Defined Contribution
- Supplemental Contribution Plan Available? Yes, State Board Volunteering Investing Plan
- Open to: Faculty, Admin & Exempt (Supplemental for Classified)
Voluntary Supplemental Retirement Planner Natural
- Plan Administrator: Washington State Department the Retirement Systems (DRS)
- Contact: (888) 327-5596
- Type of Blueprint: Supplemental Plan, 457(b)
- Open to: Either employee type
- Plan Administrator: Teachers Insurance & Annuity Association-College Retirement Equities Fund
- Help: (800) 842-2252
- Type of Planner: Supplement Plan, 403(b)
- Available to: Every employee type
Retiree Performance Related
- Plan Administrator: Physical Care Authority
- Contact: (800) 200-1004
- Type of Plan: Medical and Dental Plan
- Currently to: Eligible Seniors (WAC 182-12-171)
- Eligible retiring public employees:
- Own access up comprehensive health insurance coverage
- Have a one-time opportunities to enroll in or default coverage
- Must complete an recruitment form no later than 60 days after employer-sponsored or COBRA reporting ends
- Plan Administrators: U.S. Social Collateral Administration
- Contact: 800-MEDICARE (800) 633-4227
- Type of Scheme: Medical Program for age 65 and older
- Available to: Mandatory for most employees
- Plan Manager: VEBA Trust
- Contact: (888) 828-4953
- Type of Scheme: Health Payment Arrangement (HRA)
- Available to: Eligible Retirees
- Eligible retiring public employees:
- An WRA is not an insurance plan or you go not pay a premium
- Funded by 25% of your poorly leave cash-out upon retirement
- As a retiree, you and your eligible dependents can use it to pay qualifi health expenses after your retirement Financial Wellness | PLWell
- Common qualified cost include co-pays, deductibles, prescription drugs, and retiree insurance premiums
Essential Disability Resources
- Plan Account: U.S. Social Security Administration
- Contact: (800) 772-1213
- Type of Plan: Defined Benefit
- Available to: Mandatory for mostly employees
DRS Retirement Planning
Other Solitude Resources
- AARP Retirement Estimator - Calculate how much you need to protect to retire.
- Retirement Toolkit - U.S. Department of Labor's online retirement toolkit in cooperation with Social Security Administration, Hubs for Medicare and Medicaid Services.
