Applying for a Defined Benefit Retirement
When you decide you are ready to retire, submit an official benefit estimate form, or contact MPERA three to six months before your planned retirement date.
If you are a member of PERS, SRS, GWPORS or JRS, your estimate will tell you the amount of the retirement options available to you. We use your Highest Average Compensation (HAC) or Final Average Compensation (for MPORS) currently on file to calculate estimated benefits. Please be aware, a lump-sum payment of vacation and sick leave cannot be added to a single month’s compensation when determining your HAC. Your final benefit amount will vary based on verification of your final payout amounts after you retire.
To be eligible for a monthly retirement benefit, you must terminate all retirement system-covered employment for at least 30 days. This means that you:
- Have no written or verbal agreement to return to work; and
- Have been paid all compensation for employment and any compensatory leave, sick leave, and annual leave to which you are entitled.
At least 30 days prior to your anticipated retirement date, return your signed retirement application (that you will receive), with your official estimate to MPERA along with the following items:
- Your certified birth certificate
- PERS, SRS, GWPORS and JRS - Your contingent annuitant’s certified birth certificate (only required if you choose Option 2 or 3)
- A voided check (if you elect direct deposit)
- A completed and signed Tax Withholding Elections form for federal and state taxes.
Completed applications must be received by MPERA no later than the 14th of the month you want to retire, in order to receive your retirement benefit that month. Applications received after the 14th will be processed and paid by the end of the following month. For example, if your retirement date is January 1, we must receive your application by January 14 in order for you to receive a payment on January 31. If your application is received after January 14, you will receive a payment on February 28 for both January and February.
Please be aware, if you are a January retiree and don’t return your completed application to MPERA before January 14, you will not be eligible for a GABA increase the following year because you will not have received 12 consecutive retirement payments. ARM 2.43.2601(6) and 2.43.2606.
For PERS Defined Contribution Members and Participants in the 457(b) Deferred Compensation Plan
Please contact Empower Retirement for information about your distribution options. Your account is accessible 30 days after termination of employment.