Directions : Official Publication of the Public Employees' Retirement Board 1999 Sep
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Once the DC plan is operational, all current and new members of the PERS will be given the opportunity to choose membership in either plan. The choice will be irrevocable, and all members must receive educational training, so they make a decision that is right for their individual circumstances. While three years seems like a long time, it will not be easy for us to implement this pro- gram. We are now in the process of hiring a consultant to give us assistance and expert advice. The Retirement... Board and staff are looking forward to this challenge, and we are working very hard to provide you with the best DC program available. Public Employees ' Retirement Board- Check this out! Tax-Deferred Payments 4/ Refunded service and other types of ^~^ optional service may be purchased with tax-deferred payroll deductions. This will mean a savings for members who buy service on installment contracts. It will be effective upon approval by the Internal Reve- nue Service and will then be the only method used for payroll deduction for service pur- chases.
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