The Public Employees' Retirement System (PERS) is a pension program designed to provide retirement benefits to public employees, including those working for state and local governments. It helps ensure financial security for employees after they retire by offering monthly pension payments based on their years of service and salary history. PERS is typically funded through contributions from both employees and their employers, along with investment earnings. The system aims to support public workers, such as teachers, police officers, and firefighters, in maintaining a stable income during retirement, contributing to their overall well-being and quality of life.