A member who terminates contributory service may request a refund of the contributions he or she has made to the system provided that the member accrued contributory service before January 1, 1978 or after July 1, 2005. The refundable balance is composed of the member's contributions plus any interest earned on those funds. The employer's contributions are not refundable. By accepting the refund, the member forfeits any contributory service associated with it. A cashed refund check cancels any future benefit based on contributory service. Members may elect to receive their refund as follows:
- As a rollover to an independent tax-deferred retirement account (e.g. an IRA); or
- As a lump-sum payout. On lump sum payments, APERS withholds 20% for federal taxes and 5% for state taxes. Lump sum payments for members under age 55 may be subject to early withdrawal penalties. We suggest you meet with a financial planner or tax professional to discuss personal tax obligations.
You can initiate a refund request through the member's portal or by calling APERS Member Services Section.
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