If your refund is $200 or more, you will also need to complete a Form 2A, Refunds Payment Election. If your refund is less than $200, or if your Form 2A is received at CERF more than 30 days prior to the time your refund is ready to be processed, CERF will confirm your address either by letter or telephone to ensure your check is mailed to your current address.
If the amount of your contributions exceeds $1,000, then any lump sum refund will not be made without your consent unless you reach age 62, or die, whichever occurs first.
If you transfer to an ineligible position (such as Sheriff or Prosecuting Attorney) and are not vested, you will receive a refund of your contributions to the pension plan. However, you will not be eligible for a refund of your contributions to CERF’s 457 or 401(a) plans until you actually terminate county employment for more than 30 days.
Your contributions will be refunded in a lump sum payment directly to you, or you can elect to have them rolled over to a traditional IRA, an eligible employer plan or to a Roth IRA (subject to the same rules that apply to rollovers from a traditional IRA into a Roth IRA). Your refund cannot be rolled over to a Simple IRA or a Coverdell Education Savings Account (formerly known as an Education IRA).
Your contributions will be refunded in a lump sum payment directly to you, or you can elect to have them rolled over to a traditional IRA, an eligible employer plan or to a Roth IRA (subject to the same rules that apply to rollovers from a traditional IRA into a Roth IRA). Your refund cannot be rolled over to a Simple IRA or a Coverdell Education Savings Account (formerly known as an Education IRA).
An “eligible employer plan” includes a plan qualified under section 401(a) of the Internal Revenue Code, including 401(k) plan, profit-sharing plan, defined benefit plan, stock bonus plan, and money purchase plan; a section 403(a) annuity plan; section 403(b) tax-sheltered annuity; or an eligible section 457(b) plan maintained by a governmental employer (457 plan). An eligible employer plan is not legally required to accept a rollover. Before you decide to roll over your payment to another employer plan, you should find out whether the plan accepts rollovers and, if so, the types of distributions it accepts as a rollover.