| Account Withdrawal (Refund) |
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As of January 1, 2008, statute requires that a member who withdraws from any PERS plan must withdraw from all PERS plans in which the member participates.
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You may withdraw your Tier One/Tier Two and/or Individual Account Program (IAP) account balance if you:
- Have stopped working for all PERS-covered employers and/or all control groups under a PERS-covered employer
- Are not yet eligible for service retirement
- Submit a completed Member Account Withdrawal Application(s)
You must have been separated from all PERS employers for the full calendar month following the month you terminated employment with your last PERS employer, and you cannot be employed by a PERS employer at the time the withdrawal(s) is issued. If PERS issues a withdrawal and later discovers that the above criteria were not met, you must return the withdrawn amount(s) for redeposit into your Tier One/Tier Two or IAP account.
The amount of your withdrawal(s) will be the total of your Tier One/Tier Two and/or IAP account balance(s) at the time of withdrawal. By withdrawing your account(s), you forfeit all membership rights and future benefits provided by PERS.
The Member Account Withdrawal Application packet can be mailed or faxed to PERS. If faxing, keep the original application and the fax confirmation receipt for your records. Please do not mail and fax the application.
Currently, PERS is processing completed applications within 120 days. However, if there is a discrepancy on your account the processing time may vary and could exceed 120 days. Delays could be caused by missing data from your previous employer(s).
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MACINTOSH (APPLE) USERS CLICK HERE FOR IMPORTANT INFORMATION
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