| The Public Employee Retirement System is for | | | | most of their contributions once they retire. |
| government employees except for teachers and | | | | Although the Public Employee Retirement System |
| students. This is a mandatory membership and all | | | | is compulsory for all employees, there are still |
| members should fill out a form of application at | | | | criteria that you have to meet to become a |
| the beginning of their employment. It is a benefit | | | | member. Here are the criteria that you need to |
| plan that gives benefits to employees once they | | | | meet to become a member for most states' |
| retire. This will be based on the number of years | | | | Public Employee Retirement Systems: |
| they rendered service and on their average | | | | 1. The applicant should be a regular employee and |
| salary. | | | | the annual salary of the applicant should be $1,500 |
| The Public Employees Retirement system also | | | | or higher. |
| covers survivor and disability protection. The | | | | 2. The applicant's position should be under the |
| system also allows those with 30 years of | | | | coverage of the Social Security System. |
| service to file for an early retirement. They also | | | | Generally, these are some of the most common |
| provide death benefits and beneficiary benefits. | | | | grounds for ineligibility: |
| Every Public Employee Retirement System of | | | | 1. If the person does not meet the minimum |
| every state is committed to ensuring the | | | | annual salary required which is $1,500. |
| retirement benefits of every employee. | | | | 2. If the applicant is not covered by the Social |
| Contributions are deducted from the employee's | | | | Security. |
| payrolls. The amount may vary for every | | | | 3. If you are a temporary employee |
| employee depending on their retire plan and | | | | 4. If you are currently employed by the Job |
| coverage. Currently, the contribution rate is 8.5 | | | | Training Partnership Act and being paid by their |
| percent of the salary of an employee and will | | | | federal funds. |
| increase up to 9.5% in the year 2007. Employer | | | | 5. Students who are employed by their schools |
| contributions however, range from 13 to 17%. | | | | and universities where they attend regular classes |
| The benefits that you will get once you retire are | | | | sometimes may not qualify for the PERS. |
| dependent on your contribution and position as | | | | 6. Inmates in correctional institutions are not |
| well as your employer's contribution. The benefits | | | | eligible. |
| are fixed depending on the legislation set by | | | | 7. Mental health and retardation patients do not |
| every state. That is why it is always | | | | qualify for the Public Employee Retirement |
| recommended for members to know their | | | | System. |
| benefits and coverage so that they can get the | | | | |