If you are seriously considering retirement within the next 12 months, it may be in your best interest to receive a retirement estimate from PSERS. PSERS will provide up to two staff-prepared estimates within a 12-month period. An estimate can be computed by PSERS to show the potential monthly benefit you would receive at retirement through the normal, early, vested or disability benefit. The PSERS estimate is the only official retirement estimate pertaining to your PSERS benefit.
To obtain a PSERS retirement estimate, complete a Request for Retirement Estimate (PDF) and forward it directly to PSERS. The mailing address is located on the form.
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Days/Hours in Current School Year
This question should be completed if you are leaving employment at any time other than the end of the school year. Members frequently forget to complete this section of the estimate request. The credited service is one of the factors used in the retirement calculation, so providing an accurate number of days or hours worked within the final school year is important.
Beneficiary/Survivor Annuitant Date of Birth
The Survivor Birth Date is the date of birth of the person who will receive a monthly annuity payment upon your death. It is a common occurrence that the date is incorrect, or the member completes the form with his or her own date of birth. PSERS does not check the beneficiary information on file against the date of birth provided on the estimate request. If the date provided is incorrect, the Option 2 and Option 3 dollar amounts may not reflect the actual amount you and your survivor (beneficiary) would receive.
Attaching State Employees’ Retirement System Statement of Account
PSERS requests that a multiple service member attach a copy of their current State Employees’ Retirement System (SERS) Statement of Account. A multiple service member is a member with service credit in both SERS and PSERS. This request is frequently misinterpreted as a request for the member to attach a copy of their PSERS Statement of Account. It is not necessary to provide a copy of the PSERS statement. This is information that is already available to us. PSERS does need a copy of the SERS statement to add additional service credit to the retirement estimate calculation.
If an Error Occurs
It is extremely important that the information provided on the Request for Retirement Estimate is as accurate as possible. The information provided on the form is the information used by PSERS to calculate the estimated benefit. If you do not provide accurate information, the estimated benefit amount will not reflect an amount close to the actual benefit you should receive. You should verify the information on the Request for Retirement Estimate before sending it to PSERS. Additionally, please check the figures used to calculate the estimate after you receive the completed estimate from PSERS.
If you receive the retirement estimate from PSERS and you detect an error, contact the PSERS regional office noted on the bottom of the estimate. A corrected estimate will be prepared and returned to you.