Lump-Sum Refund of Account Balance

You are eligible to elect a refund of your entire account balance and forfeit all your creditable service and rights to future benefits if:

• You have ended PSRS-covered employment, and
• You are not under an agreement for future service with a PSRS-covered employer, and
• You have waited 30 days from your last date of employment.

Your refund payment includes all your contributions, any payments made toward a reinstatement or purchase of credit and all interest credited to your account through the previous June 30.  Refunds do not include your employer’s matching funds.  The law does not permit partial refunds or loans.

Should you choose a refund payment, careful consideration should be given to potential tax consequences.  If you request a refund, detailed tax information and payment options are provided. 

PSRS cannot offer tax advice.  We strongly suggest you consult a tax professional and/or financial planner before making a final decision to receive a refund of your account balance.

If you have any questions or would like to request a refund, please call (800) 392-6848.