Retirement Benefits

Current Members

You can use these sites to view or manage your current retirement accounts. Also visit our Training & Events page to view upcoming events.

• DRS - PERS plans, TRS plans, and Deferred Compensation Plan (DCP)
• TIAA-CREF -  TIAA-CREF College Retirement Plan, and Voluntary Investment Plan (VIP)

Newly Eligible Members - Retirement Choices

Classified Staff	Exempt Staff	Faculty	Police Officers
PERS Plan 2	TIAA-CREF	TIAA-CREF	LEOFF Plan 2
PERS Plan 3	PERS Plan 3	TRS Plan 3

As a new classified employee with no prior state service, you can choose between PERS Plan 2 or Plan 3.  A classified employee with PERS2 membership prior to March 1, 2002 will have the option to transfer into PERS3 every January. The Department of Retirement Systems Plan Choice booklet explains in depth the differences in the two plans. 

• You will have 90 days to make your choice between PERS Plan 2 or Plan 3. 
• If you do not choose a plan during your first 90 days, you will automatically default to Plan 3.
• Once you are in Plan 2 or Plan 3, you will remain in that plan through your career with the state of Washington.

As a new eligible exempt staff or faculty with no prior state service you may elect to participate in PERS3 (exempt staff only), TRS3 (faculty only), or TIAA-CREF. For more detailed information on the choices you should review the DRS Plan 3 Summary and the TIAA-CREF Evergreen State College Retirement Plan website.

Note:  New employees who come to Evergreen as eligible faculty with previous WA State TRS, or exempt staff with previous WA State PERS membership may remain in their present plan, or they can elect to participate in TIAA-CREF (the Evergreen State College Retirement Plan, or HERP).  Please review the exceptions and detailed eligibility charts for Retirement Membership Options – Faculty and Retirement Membership Options – Non Faculty. 

• You have 30 days to make the choice between TIAA-CREF and PERS3/TRS3. 
• If you do not choose a plan during your first 30 days, you will automatically default to TIAA-CREF (the Evergreen State College Retirement Plan, or HERP).

Department of Retirement Systems Plans

The Washington State Department of Retirement Systems offers the following plans to eligible employees:

PERS Plan 1 is no longer offered to new employees.
PERS Plan 2 is a defined benefit plan. It provides a guaranteed lifetime monthly retirement benefit based on length of employment and salary.  Additional information can be found in the PERS Plan 2 Member Handbook.
PERS Plan 3 has two components - a defined benefit component and a defined contribution component.  The defined benefit component provides a guaranteed lifetime monthly retirement benefit.  The defined contribution component is based on the amount you contribute and the performance of the investments you select.  Additional information can be found in the PERS Plan 3 Member Handbook.
TRS Plan 3 (for faculty) has two components - a defined benefit component and a defined contribution component. The defined benefit component provides a guaranteed lifetime monthly retirement benefit. The defined contribution component is based on the amount you contribute and the performance of the investments you select. Additional information can be found in the TRS Plan 3 Member Handbook.
LEOFF is offered to commissioned police officers.

Contributions are based on your gross salary amount. Your contributions are treated as reductions from your salary. Therefore, you do not pay income tax on that portion of your earnings now. It will be taxed upon withdrawal.  How the plans vary in the amount withheld from you check is as follows:

TIAA – CREF

TIAA-CREF administers The College Retirement Plan for faculty and exempt staff.

TIAA-CREF is a 403(b) retirement annuity.  Your contributions are based on your age and matched by the college.  Your benefit depends on the amount and performance of your investments. Additional information can be found in The College Retirement Plan document (PDF).
Contributions are based on your gross salary amount. Your contributions are treated as reductions from your salary. Therefore, you do not pay income tax on that portion of your earnings now. It will be taxed upon withdrawal. 

Deferred Compensation Plans - Voluntary Investments are Available to all employees

Deferred Compensation is a method of taking some of the income you earn today and setting it aside for your use during your retirement years when you presumably will be in a lower tax bracket. The portion that you set aside today is not taxed while you earn it. Instead, it is taxed when you draw it out and use it.
Evergreen offers you a choice of two different plans: TIAA-CREF Voluntary Investment Plan Website - Plan Document (PDF)
State of Washington Employee's Deferred Compensation

Enrollment Forms for New Members

(Current Members can find additional change forms on the Changing Benefits & Deductions page.)

Classified Employees

1.  Member Information Form for PERS2/PERS3 and
2.  Beneficiary Designation for PERS2/PERS3

Faculty & Exempt Employees

1.  HERP/PERS Choice Form and enrollment forms for your selected plan:
2.  Salary Reduction Agreement and TIAA-CREF Enrollment Form (or enroll online)
or
2.  Higher Education Employees Plan 3 Investment Program and Beneficiary Designation

Police Officers

1.  Enrollment Form for LEOFF