Membership
PEERS membership is required, regardless of position, for non-certificated employees (those who don’t hold valid Missouri Educator Certificates from the Missouri Department of Elementary and Secondary Education) employed on a regular basis by a PEERS-covered employer to work:
- At least 20 hours per week on a regular basis, and
- In a position that normally requires the employee to work at least 600 hours during the school term.
PEERS-covered employers include:
- All Missouri public school districts, except those in the city of St. Louis and Kansas City,
- Missouri public two-year colleges that have elected to join, and
- Non-profit educational associations that have elected to join.
A certificated employee or teacher working less than full-time for at least 17 hours per week on a regular basis in a position that requires at least 600 hours of work during the school term can choose membership in PEERS within the first 90 days of initial part-time employment.
If you are a certificated employee and a member of PEERS, it is possible that you should be a member of the Public School Retirement System (PSRS). Please contact your employer to make sure your membership has been properly established with PEERS.
Membership is ended by a refund of your account balance, absence from covered employment for five consecutive school years, death or retirement.
Vesting
Vesting establishes the right to a future retirement benefit without additional PEERS-covered employment. You are vested once you have five years of credit with PEERS.
Contribution Rate for 2011-2012
As a member, you contribute to PEERS. PEERS contributions are automatically deducted from your pay, pre-tax, to help fund your benefits. Your employer matches the dollar amount of your contributions. Employer contributions are paid into a general fund used to pay benefits for retirees and beneficiaries.
The contribution rate for the school year 2011-2012 (July 1 to June 30) is 6 .86% for the employee and 6.86% for the employer. For example, if your eligible annual compensation is $18,000, total retirement contributions of $1,235 ($18,000 x 6.86%) are withheld from your pay and credited to your PEERS account. Your employer also contributes $1,235.
The contribution rate is set each year by the PSRS/PEERS Board of Trustees. It is based on the recommendation of the Systems’ actuary after the annual actuarial valuation has been completed.
Member Statement
Each fall, you receive a Member Statement. It includes the amount of your contributions, accumulated interest, years of credit, salary history and your beneficiary designation. Up-to-date account information is also available by logging in to your online account.