How to Enroll in Plan 3

Enrolling in Plan 3 involves several important decisions. Follow these instructions and use the tools and resources provided to assist you.

Step-by-step instructions - To enroll in Plan 3, or to transfer from Plan 2 to Plan 3, you must submit a completed Plan 3 Member Information form (102K PDF) to your employer. This form is available from your employer or an electronic version can be downloaded from this Web site. There are choices concerning your investment program and your contribution rate. You may find it helpful to follow these step-by-step instructions.

1. Decide on a contribution rate.

You may choose from one of the six contribution rate options listed above. This is an important decision because once you establish a contribution rate option, you cannot change it unless you change employers. Contributions may be tax-deferred, therefore the amount you select will be deducted from your gross pay before federal withholding tax. Use the Take-Home Pay Estimator to see what the net effect of various contribution amounts will mean to your present day net pay. Refer to the PERS Plan 3 Contribution Rate Brochure (161K PDF) for additional details concerning Plan 3 contributions.

2. Decide on an investment program.
Plan 3 members have the choice of two investment programs: Washington State Investment Board (WSIB) and Self-Directed. To review information describing the difference between the two programs, performance information and descriptions of funds in both investment programs are provided on this Web site. The Asset Allocation Tool will give you an idea of a possible investment mix based on your risk profile. Refer to the Plan 3 Investment Guide (163K PDF) for additional details. For additional help, you might want to attend an Investment Education Seminar.

3. Complete a Member Information form.
Once you have decided on a contribution amount and investment program, you can now complete a Plan 3 Member Information form (102K PDF). This is available from your employer or in electronic form on this Web site. Return the completed and signed form to your employer.

4. Complete a Beneficiary Designation form.
The Beneficiary Designation form (31K PDF) is available in electronic form on this Web site or you can contact the Department of Retirement Systems (DRS) at 1-800-547-6657 and request that a copy be mailed to you. Return the completed and signed form to DRS. (see Contact Us)

If you selected the Self-Directed Investment Program:

5. Complete an Investment Allocation and Balance Transfer form.
Within the Self-Directed Investment Program, Plan 3 members may choose from a menu of funds, or from a selection of self-balancing portfolios composed of various mixes of funds. Refer to the Plan 3 Investment Guide (2.1M PDF) for additional details on the specific funds and PERS Plan 3 Journey to Retirement guide (318K PDF) for information about the self-balancing portfolios.

The PERS Plan 3 Investment Allocation form (45K PDF) is available in electronic form on this Web site or by contacting ICMA-RC at 1-888-711-8773. Return the completed and signed form to ICMA-RC. (see Contact Us).