As a school employee who first became an active member of PSERS on or after July 1, 2019, you are automatically enrolled as a Class T-G member. Class T-G provides a hybrid retirement that has both a Defined Benefit (DB) and a Defined Contribution (DC) component for your retirement benefit.
Class T-G is the default Membership Class in which you contribute the most to your DB component of your retirement benefit for the guaranteed highest monthly benefit at retirement.
At enrollment into the PSERS DC Plan, your and your employer's contributions are automatically invested in a target date investment based on your estimated normal retirement age (67) as determined by your date of birth. Target date investments are professionally managed and periodically adjusted with a specific target retirement date in mind. They are designed to adjust to changing needs up to and throughout retirement in a single investment option. Professional investment managers invest your money in a mix of funds across a variety of asset classes to create a diversified investment portfolio, guided by the number of years until retirement. The target date investment is automatically monitored and rebalanced to shift assets to more conservative investments as the retirement year draws near.
After you are 18, you will have the opportunity to elect a new membership class, change your investment options, and/or elect after-tax contributions.