The Public School Employees’ Retirement System (PSERS) is an agency of the Commonwealth of Pennsylvania who administers the pension plan for Pennsylvania’s public school employees. Under the Internal Revenue Service (IRS) Code, the PSERS pension plan is classified as a 401(a), governmental defined benefit plan. A defined benefit plan means that your retirement benefit is determined by a formula which includes a retirement factor, years of credited service, and the final average salary. Enrollment in PSERS is mandated for all employees that work more than 25 hours per week, more than 500 hours per year (hourly), or 80 or more days per year (salaried).
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IMPORTANT: New members of PSERS, hired on or after July 1, 2011, are automatically enrolled in PSERS as a member of Class T-E. New employees have 45 days from the date of notification to elect membership into Class T-F.
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Section 403(b) Program:
In addition to your PSERS plan, NHSD offers its employees a 403(b) tax sheltered account program as an additional way to save for retirement. Take advantage of the tax savings by setting up a plan today! Simply set up an account using one of the providers listed below.
Authorized Investment Provider List:
Deductions are automatically sent to the provider of your choice. After setting up your account, simply complete the form below and return to the Business Office to get your deductions started.