Disability Retirement Benefits - PSERs

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Is a disability retiree eligible for Premium Assistance? Premium assistance is a reimbursement of out-of-pocket expenses for the cost of the retiree’s basic health insurance. Up to $100 per month is available to eligible PSERS retirees receiving a disability retirement benefi t provided they have an out-of-pocket expense for basic health insurance coverage from one of the following: PSERS Health Options Program A Commonwealth public school employer’s group health insurance plan that is certifi ed with PSERS. The amount of premium assistance you receive cannot exceed the actual premium you pay for basic coverage. Premium assistance is a tax-free reimbursement added to your monthly benefi t. Contact the Internal Revenue Service (IRS) if you require further details regarding tax implications. Is my disability retirement benefit taxable? Your PSERS disability retirement benefi t is subject to federal taxes but not to Pennsylvania state or local taxes. If you reside in or you move to another state, you should check with that state regarding taxes that may be due on your disability retirement benefi t. 15
For additional information on taxes, please contact a tax advisor or the Internal Revenue Service (IRS). What disability retirement options are available to me? Maximum Single Life Annuity (MSLA) - You will receive the maximum monthly benefi t for as long as your disability benefi t continues to be granted. If you die, any remaining balance in the present value of your retirement benefi t will be paid to your benefi ciary(ies). Under this option, you may name more than one benefi ciary and you can change your benefi ciary(ies) at any time. Option 2 - You will receive a reduced monthly benefi t based on your age and gender and the age and gender of your survivor annuitant at the time of disability retirement. At the time of your death, your survivor will receive the same amount per month that you would have received if you had retired under a normal or early retirement benefi t. Under this option you may name only one survivor annuitant. Option 3 - You will receive a reduced monthly benefi t based on your age and gender and the age and gender of your survivor annuitant at the time of disability retirement. At the time of your death, your survivor will receive one-half of the amount per month that you would have received if you had retired under a normal or early retirement benefi t. Under this option, you may name only one survivor annuitant. 16
Page 1 and 2: Public School Employees’ Retireme
Page 3 and 4: Table of Contents What is a Disabil
Page 5 and 6: enefi ts paid to you by PSERS. It i
Page 7 and 8: supplement is not included in the b
Page 9 and 10: Physician’s Medical Report(s) (PS
Page 11 and 12: If you do not receive a favorable r
Page 13 and 14: permitted to return to work for a P
Page 15 and 16: Disability payments Retirement bene
Page 17: health plan includes any COBRA cont
Page 21 and 22: which are unique to your employer o
Page 23 and 24: Normal/Early Class T-C/T-D Normal/E

Disability Retirement Benefits - PSERs

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