In the CERF Pension Plan, if you leave county employment before you become vested, you will receive a refund of any contributions you made to the plan. Your contributions will be refunded in a lump-sum payment either directly to you or you may elect to have your contributions rolled over to an eligible retirement plan, a traditional IRA, or Roth IRA. The refund will be made as soon as administratively possible, normally 60-90 days from the termination date. In order to elect a rollover to another plan, the full amount of distribution must equal $200 or more. If you elect a partial rollover, that portion of your distribution must be greater than $500. Any pre-tax contributions paid directly to you require tax withholding at a rate of 20%.
Before your refund can be processed:
Form Number | Form Name | Last Revision |
---|---|---|
2A | Refunds - Payment Election | July 21 |
Instructions | Instructions for Form 2A - Refunds Payment Election | May 20 |