Applying for A Defined Benefit Retirement
When you decide you are ready to retire, complete the Request for Estimate form for an official retirement benefit estimate 3 to 6 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. Remember: They are only ESTIMATES. 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. This means you have concluded all covered employment for at least 30 days, 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 you received 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)
- Completed and signed Tax Withholding Elections for federal and state taxes.
Applications are due no later than the 14th of the month in which you want to retire. 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 1st, we must receive your application by January 14th to receive a payment on January 31st. If your application is received after January 14th, you will receive a payment on February 28th, 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 14th, 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
You must contact Empower Retirement for information about your distribution options.