How to Enroll in Plan 3New membership with 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 Member Information Form (119K PDF) to your employer. This form is available from your employer or an electronic version can be downloaded from this Web site. You have 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.
There are six contribution rates for you to select from. This is an important decision because once you establish a contribution rate, you cannot change it unless you change employers. Contributions are 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 Plan 3 Contribution Rate Brochure (163K 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. Review information describing the difference between the two programs. Performance information and descriptions of funds in both investment programs is provided on this 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.
3. Complete a Member Information Form.
Having decided on a contribution amount and investment program, you can now complete a Member Information Form (119K PDF).
This is available from your employer or in electronic form on this Web site. Complete and sign the form and return it to your employer.
4. Complete a Beneficiary Designation Form.
The Beneficiary Designation Form (225K 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 a copy be mailed. Return it completed and signed 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 (163K PDF) for additional details on the specific funds and SERS Plan 3: Journey to Retirement (245K PDF) for information about the self-balancing portfolios.
The Plan 3 Investment Allocation Form (49K PDF) is available in electronic form on this Web site or by contacting RC at 1-888-711-8773. Return it completed and signed to RC. (see Contact Us)
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