Employer-sponsored retirement plans generally fall into two broad categories. APERS operates what is known as a “defined benefits” pension plan whereas most private retirement plans are “defined contribution” plans. The basic difference is what each plan promises its participants.

Annually we receive the highest number of retirement applications for members who want to retire effective July 1. During the final week for filing a July application, we are offering extended visitor hours to assist members with the retirement essentials.

At retirement, APERS members can choose between five different benefit options, or ways to structure their retirement benefits (not including PAW or DROP). They are Straight Life, A-120, A-60, B-75, and B-50. Learn the features of each at our blog!

In addition to the "A" series benefit options, APERS offers two other options that allow members to extend their retirement benefits beyond their lifetime to a beneficiary: options B-75 and B-50. This article describes the "B" options.