The Public Employees Retirement System (PERS) is a retirement plan designed for government employees, providing them with financial security after they retire. It typically includes benefits such as pensions, which are calculated based on factors like years of service and salary history. PERS aims to ensure that public workers can maintain a stable income in their retirement years. PERS is managed by state or local governments and is funded through contributions from both employees and employers. The system invests these funds to grow the retirement benefits over time. Many states have their own versions of PERS, tailored to meet the needs of their public workforce.