Board of Trustees votes on Phased Retirement Option (PRO)

HOME  /  News  /  Board of Trustees votes on Phased Retirement Option (PRO)

Board of Trustees votes on Phased Retirement Option (PRO)

The PERA Board of Trustees voted unanimously Oct. 11 to adopt recommendations to make the Phased Retirement Option (PRO) a permanent option. The PRO was set to expire June 30, 2019.  PERA will bring the Board’s recommended changes to the 2019 legislative session to be enacted into law.

The PRO allows Basic and Coordinated members of the General Plan to begin collecting a retirement benefit as early as age 62 while continuing to work a reduced schedule with their public employer.  The PRO first became available to members retiring May 23, 2009, or later. The PRO was designed to support employers with knowledge transfer as people prepared to retire and to provide employees a transition into retirement.

The Board agreed to the following provisions:

  • Eliminate the sunset of June 30, 2019.
  • Eliminate the annual renewal process.
  • Require a 30-day break in public service at the end of the PRO employment in order for the person to continue to qualify for retirement benefits.
  • Restrict PRO eligibility to employees who phase into retirement through employment with the same employer.

The Board did not change the five-year maximum length for a PRO and that an employee must be age 62 or over.