Transferring from Plan 2 to Plan 3

If you were hired under the dates listed below, you qualify to transfer.

System	When Were You Hired
PERS	Before March 1, 2002 for state agencies and higher education employers; or Before September 1, 2002 for local government employers.
SERS	Before July 1, 2007; or After July 1, 2007 if you have past PERS Plan 2 service.
TRS	Before July 1, 2007

To complete your transfer to Plan 3, you must be working and:

Earn service credit during the January in which you transfer, and
Complete your Member Information Form and turn it into your employer by January 31.

Once you transfer to Plan 3, you cannot go back to Plan 2.

Retirement Eligibility for Transfer Members

In addition to the retirement eligibility based on your system and plan, transfer members with five years of service credit can retire at age 65 under the following circumstances:

PERS: service credit earned before June 1, 2003.
SERS: service credit earned before September 1, 2000.
TRS: service credit earned before July 1, 1996.

Steps to complete the transfer

Complete the Member Information Form. In Section 2, be sure to complete B as a transfer member. In Section 3, you must select a contribution rate. In Section 4 you must select an investment program. Return the completed form to your employer. This will ensure your employer takes the correct contributions from your pay and reports you in the correct plan. You will receive a letter confirming your decision to join Plan 3.
If you select the Self-Directed Investment Program, you must choose your investments. You can do this by completing the Plan 3 Self-Directed Investment Allocation Form. Mail the completed form to ICMA-RC. You will receive a confirmation letter when the transaction has been completed.

Or, after receiving your confirmation letter, you may allocate your investments by calling ICMA-RC at 888-711-8773.
Complete the Beneficiary Designation Form. Return the form to DRS.

Financial modeling software

You can compare the projected retirement benefits for Plan 2 and Plan 3 using different contribution rate options and expected rates of investment return. You can also use factors such as early retirement and delayed benefits to compare your projections.