Two percent increase for most retirees/beneficiaries after Prop 124 passage.
Service purchase refunds and discount period underway
Some post-July 2017 buybacks impacted; discounted service purchase cost period opens
Tier 1b members: DROP rollbacks underway
About 1,300 active Tier 1b retirees and members are expected to be affected by the refunds and interest recalculations that PSPRS is working to complete by June 30, 2019.
Mark Steed named PSPRS Chief Investment Officer
Following a national search that produced dozens of candidates who sought to manage the agency’s billion investment portfolio, Steed was promoted.
50th Anniversary of PSPRS
On March 14, 1968, PSPRS and a unified retirement system for first-responders were created with the signing of Senate bills 224 and 211.
System UpdatesView All
Public safety retirees to receive pension increasesJune 29, 2018
Board lowers assumed earnings rateMay 30, 2018
Effect to be reflected in Tiers 1, 2 rates starting July 2020.
EORP contribution rate increase signed into lawMay 15, 2018
Actuarially determined rate of 61.5 percent starts in July.
PSPRS private equity investments outperform critical industry benchmarksMarch 29, 2018
10-year returns surpass bull market and peer fund gains, says consultant.