Page 9 - Public Employees Retirement Fund My Choice Plan Member Handbook for Local Government Employees

▪ Rollover Savings Account – RSA now referred to as Rollover Pre-Tax Contribution or RSA (for Investments). Consists of a member's funds transferred to PERF from another qualified plan plus any interest or earnings.
▪ Survivor Beneficiary – the person receiving an elected percentage of your benefits upon your death. Several types of survivor beneficiaries are discussed in this handbook.
▪ Vesting/Vested – the minimum amount of time you have to work (years of participation) in one or more covered positions to receive a portion of the employer share (variable) contributions and earnings of the My Choice: Retirement Savings Plan.
▪ Voluntary Contributions – contributions made to the My Choice: Retirement Savings Plan that you may choose to make through payroll deductions if your employer participates in the program.
▪ Years of Participation – each full year of employment in a My Choice-covered position. Years of participation help to determine your qualification for vesting.
Public Employees Retirement Fund My Choice Plan Page 9 of 50 Member Handbook for Local Government Employees
Effective: 07/01/2020