| Data Verification |
|
|
 |
|
|
Tier One, Tier Two, and OPSRP Pension Program active and inactive members who are within two years of their earliest retirement age can request a verification of certain retirement data beginning July 1, 2011.
A Data Verification is not a benefit estimate and verifications do not cover the Individual Account Program.
The verification will be based on the information that has been reported to PERS by the members’ employer(s). The verification will include the member’s accrued creditable service or retirement credit and the member’s “final average salary.”
For Tier One or Tier Two members, the verification will also include the member’s regular and variable account balances. Sick leave information will be included beginning July 1, 2012.
The verification will have information for the last calendar year for which earnings have been credited.
If PERS produces a verification, a member’s retirement benefit will be calculated using data that is not less than the amounts provided in the verification, except in certain circumstances. For example, account balances will be adjusted for earnings crediting up to the member’s effective retirement date and accumulated unused sick leave will be adjusted for leave accrued and used after the date specified in the verification.
Also, at retirement PERS can use an amount less than an amount provided in the verification if the member knew the verification data was inaccurate.
Members will have 60 days after PERS provides the verification to dispute the accuracy of the data in the verification. Employers will have a reasonable time to confirm information before a verification is issued, but will not be able to change that information once the verification is issued.
Members can request one verification at no cost, and each additional verification is $100.
If you decide to request a Data Verification, PERS recommends that you wait until you are within one year of your anticipated retirement date so that the data is as recent as possible.
You can request a data verification through Online Member Services, or you can download and print the Data Verification Request form and send it to PERS.
What will my Data Verification look like? (Move your mouse to a field on the sample Data Verification letter and a pop-up box will provide more information.)
Read Data Verification FAQs.
|
|
|
|
