Retirement Benefits

Newly Eligible Members – Retirement Choices

New Classified Employees with No Prior State Service & 
Eligible Temporary/Hourly or Student Employees with No Prior State Service

You can choose between PERS Plan 2 or Plan 3. The Department of Retirement Systems Plan Choice Booklet explains in depth the differences in the two plans. 

• If you do not have prior membership in PERS you will be enrolled in PERS Plan 2 initially. 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 PERS Plan 2.
• Once you are in Plan 2 or Plan 3, you will remain in that plan through your career with the state of Washington.

You may be exempted from membership in PERS when:  You are a full-time student or the spouse of a full-time student; and you are employed at the same institution where you are a full-time student or where your spouse is a full-time student; and you determine that your employment is primarily an incident to and in furtherance of your education or training, or the education or training of your spouse.

*Membership exceptions - Full-time Evergreen student and spouse of a full-time Evergreen student.

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 The Evergreen State College Retirement Plan. For more detailed information on the choices you should review the DRS Plan 3 Summary and the TIAA-CREF Evergreen 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 The Evergreen State College Retirement Plan.

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

DRS Deferred Compensation Plan (DCP) - Automatic Enrollment

As a new Washington public employee, you will be automatically enrolled in the program.  Because DCP is voluntary, there are actions you can take once you receive your enrollment notification letter in the mail.  You can also opt out of DCP under the procedures listed below, with the option to rejoin later.

The Evergreen State College Retirement Plan

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

The Evergreen State College Retirement Plan 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 Evergreen State 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. 

Voluntary Investments are Available to All Employees

Retirement and Deferred Compensation Savings Plans

Evergreen offers you a choice of two different tax deferred plans:

• The Evergreen State College Voluntary Investment Plan Website
  • Plan Document (PDF)
  • Salary Reduction Agreement for VIP (PDF)
  • Pretax or Roth post tax contribution options available
• State of Washington Employee's Deferred Compensation - The Deferred Compensation Plan (DCP) allows you to enroll with as little as a $30 per month, and provides the flexibility to adjust your contribution amounts at any time.