Below is a table summary of the retirement plans offered to classified staff, plans are administered by the Department of Retirement Systems. Participation in a retirement plan is mandatory.  You will participate in Plan 2, or Plan 3 based on your initial eligible employment with any state agency, as indicated below, even if you withdrew prior contributions.

Service credit canceled by previous withdrawals may be restored by repayment of withdrawn contributions, plus interest within 5 calendar years of returning to a PERS eligible position or before retirement, whichever is first.

* Eligible employees will initially be enrolled in PERS Plan 2; if you fail to choose a plan within the 90-day enrollment period you will default to PERS Plan 2 permanently.

Plan	IRS Qualification	Contribution Rates	Vesting	Retirement	Benefit
PERS Plan 2	401(a) Defined Benefit Plan	Employee: 6.36% Employer: 9.53%	After 5 years of service.	At age 65 with 5 years of service, age 55 with 20 years of service with reduced benefit, or age 62 with 30 years of service with full benefit.	2% of AFC per year of service
PERS Plan 3	401(a) Defined Benefit Plan with Defined Contribution	Employee: Six options available Employer: 9.53%	After 10 years of service.	At age 65 with 10 years of service, or a reduced benefit at age 55 with 10 years of service (defined benefit portion).	1% of AFC per year of service (Defined Benefit portion), plus Defined Contribution portion. *see handbook for details
LEOFF Plan 2 Commissioned Police Officers	401(a) Defined Benefit Plan	Employee: 8.53% Employer: 8.73%	After 5 years of service.	At age 53 with 5 years of service, or a reduced benefit at age 50 with 20 years of service.	2% of AFC per year of service

Below is a table summary of the retirement plans offered by EWU for full time Faculty and Exempt staff.  Participation in a retirement plan is mandatory. New full time Faculty and Exempt employees have 30 days from their date of hire to irrevocably select the retirement plan they wish to participate.

More detailed information regarding the various retirement plans is available on the following links:

• The Eastern Washington University Retirement Plan (EWURP)
For full time Faculty and Exempt staff:  Administered by TIAA

• The Teachers Retirement System (TRS) Plan 3
For full time Faculty:  Administered by Washington State Department of Retirement Systems (DRS) 

• The Public Employees Retirement System (PERS) Plan
For full time Exempt staff:  Administered by Washington State Department of Retirement Systems (DRS)

Retired faculty returning to work after retiring with TIAA plan must have at least a quarter break after the effective retirement date before returning to work. Retirees or individuals eligible to retire under any DRS plan are not eligible to participate in the EWURP. Contact the Benefits Office to discuss options for plan participation for new employees with prior DRS service.

Plan	IRS Qualification	Contribution Rates	Vesting	Retirement	Benefit
EWURP Faculty and Exempt staff	403(b) Defined Contribution Plan	Employee: Under age 35: 5% Age 35-49: 7.5% Age 50: 10% Employer: Equal Match	Immediately upon participation.	Age 55 with 10 or more years of service.	Multiple options available including annuitizing. Consult your TIAA representative.
PERS Plan 3 Exempt staff	401(a) defined benefit plan with a defined contribution component	Employee: Six options available Employer: 9.53%	After 10 years of service credit.	At age 65 with 10 years of service, or a reduced benefit at age 55 with 10 years of service (defined benefit portion).	1% of AFC per year of service (Defined Benefit portion), plus Defined Contribution portion. *see handbook for details
TRS Plan 3 Faculty	401(a) defined benefit plan with a defined contribution component	Employee: Six options available Employer: 9.70%	After 10 years of service credit.	At age 65 with 10 years of service, or a reduced benefit at age 55 with 10 years of service.	1% x service credit years x AFC = monthly benefit