PA SERS-123 2021-2025 free printable template

Payee s Signature Date PAYEE - STOP HERE To deposit into a savings account have your financial institution complete the remainder of this form. PART II - FINANCIAL INSTITUTION AGREEMENT ACH Routing Number - Account Number Financial Institution Name Title In consideration of SERS making payments in accordance with this authorization without requiring other proof that the payee is alive on the date which such payment falls due we hereby agree to repay refund and/or reimburse to SERS on demand...

How to fill out state employees' retirement system sers form

How to fill out PA SERS-123

1. Begin by downloading the PA SERS-123 form from the official website.
2. Fill in your personal information at the top, including your name, address, and Social Security number.
3. Indicate your employment details, including your employer's name and your position.
4. Complete the sections relating to your service credit and any applicable purchase of credit.
5. Review the instructions to ensure all necessary documents are included with your application.
6. Double-check for accuracy and completeness before signing the form.
7. Submit the completed form to the appropriate Pennsylvania SERS address.

Who needs PA SERS-123?

1. Individuals who are members of the Pennsylvania State Employees' Retirement System (SERS) and are looking to establish or update their service credit.
2. Employees seeking to make a purchase of credit for previous service.
3. Retirees or those planning to retire who need to provide information regarding their retirement benefits.

People Also Ask about sers pa gov

What is the special early retirement in PA?

Special Early Retirement A “55/25” retirement is reduced by one quarter of one percent per month for each month you are under normal retirement requirements.

How long do you have to work for the state of PA to get a pension?

You are eligible for monthly pension payments, or “vested,” after working ten years.

What is the reduction factor for early retirement?

A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after normal retirement age may result in larger benefits.

What is the retirement age for SERS in PA?

In most cases you would be a class AA member, with a SERS retirement age of 50. In that case, you would be eligible for an unreduced pension at 50 after working three years or after working 35 years (no age and service sum threshold).

What is the SERS statement in PA?

Your statement provides a snapshot of all your SERS retirement plans as of December 31, 2022, whether you have one or multiple SERS retirement plans. The statement lists the number of beneficiaries you have on file for each plan.

What is the PA SERS early retirement reduction?

If you retire before reaching the SERS retirement age for your class of service – age 67 or after working 35 years when the sum of your years of service and age equals at least 97 – your pension will be reduced for early retirement.

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What is PA SERS-123?

PA SERS-123 is a form used by the Pennsylvania State Employees' Retirement System to report certain financial information.

Who is required to file PA SERS-123?

Entities that have employees who are members of the Pennsylvania State Employees' Retirement System are required to file PA SERS-123.

How to fill out PA SERS-123?

To fill out PA SERS-123, you must provide the necessary financial and employment information as outlined in the form's instructions and ensure all data is accurate.

What is the purpose of PA SERS-123?

The purpose of PA SERS-123 is to collect data necessary for the management and calculation of retirement benefits for employees.

What information must be reported on PA SERS-123?

The information that must be reported on PA SERS-123 includes employee identification details, employment history, salary data, and contributions to the retirement system.