Privatization occurs when a public employer is sold or merged with a private entity. As you are no longer considered a public employee, you will stop participation in PERA's Coordinated Plan.
You are immediately vested for a monthly benefit (regardless of service credit), if you are actively employed at the facility the day before the employer becomes a private entity. You will receive a PERA pension at retirement based on your service and salary earned up to the date of privatization.
Returning to Public Service
If you are a privatized member and are thinking about going back to work in public employment, please call PERA to discuss how this may impact your privatized benefits.
