Friday, May 24, 2024

DRS Seminar for RPEC Members

A presentation by the Washington State Department of Retirement Systems especially for members of RPEC. Presented by Seth Miller, Member Experience Division Assistant Director, and facilitated by Jakob Canup, RPEC Membership Coordinator.

This is an opportunity to hear directly from the experts at DRS about topics relevant to you and your pension. DRS manages and administers pensions for our members in PERS, PSERS, SERS, and TRS. Whether you’re a new retiree, soon to be retired, or have been in retirement for quite some time, there will be relevant and valuable information for you to garner.

Outline:

  • DRS Overview
  • COLA deep dive
  • Beneficiary and Survivors
  • Unfunded liability
  • Updating information with DRS
  • Potential fraud warnings from DRS

View the PowerPoint presentation here.

 

Questions that will be addressed include:

  • How is the COLA calculated and why a 3% cap?
  • How does COLA Banking work?
  • What are the 4 survivor options?
  • How is a survivor different from a beneficiary?
  • What is the breakdown of the Unfunded Actuarial Accrued Liability (UAAL) for PERS 1?

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