Public Employees Retirement System (PERS)

The Public Employees Retirement System (PERS) is a pension program designed for public sector workers, such as teachers, police officers, and government employees. It provides retirement benefits based on the employee's salary and years of service. Employees contribute a portion of their pay into the system, and employers often match these contributions. Upon retirement, members receive monthly payments from the system, which are intended to provide financial security. PERS helps ensure that public employees can retire with a reliable income after years of service. Each state may have its own version of PERS with specific rules and benefits.