Regarding PERS, CalPERS, and FERS accounts (any retirement-style accounts from a county/state/school district):
Due to these accounts not being accessible while a person is currently employed with the providing agency, they are not to be counted as asset account while a person is still employed and able to contribute to the account.
Per HUD guidelines, “amounts that would be accessible only if the person retired are not counted.” This applies to PERS-type accounts because a person must by permanently separated form all PERS covered employment in order to withdraw contributions.
NOTE: If the PERS-type account was included in a previous recertification, and if it was that account that had taken them over $5K in assets, make sure you reevaluate the assets this year. Without the PERS-type account, if the assets are below $5000, you do not need VODs, and will need an Under $5K Assets Certification.