Refunds and Rollovers

Please note that refunds and rollovers can take up to 90 days after we receive all necessary paperwork and documentation.

It’s important to understand the implications of refunding or rolling over your account. The Leaving Employment page and Refund/Rollover Request booklet have more information to help you make an informed decision.

By refunding or rolling over your account, you will forfeit:

• Any rights associated with your DB Plan account, including your right to any future benefits with PERA
• Access to the PERACare health benefits (including premium subsidy) and life insurance through Unum
• The right to apply for disability benefits through PERA

Note that the information on this page only applies to PERA DB Plan accounts. To withdraw or do a rollover of your PERAPlus 401(k)/457 Plan account(s) or PERA Defined Contribution (DC) Plan account, call Empower at 833-4-COPERA (833-426-7372).

What to Expect

We know you want to receive your refund or rollover as quickly as possible. Here are the steps you’ll need to take and what to expect along the way.

Refunds and rollovers can take up to 90 days, which allows time for any unforeseen issues that may affect the accuracy of a PERA refund. While most refunds are processed sooner, delays can occur due to final payroll discrepancies, salary adjustments, or differences in employer termination procedures. All final transactions must be posted and verified before a refund or rollover can be issued.

Before You Submit Your Request

• Be sure to terminate all PERA-affiliated employment. You cannot refund or roll over your account while you’re still working and contributing to PERA.

Submitting Your Request

• Complete the Refund Request form (p. 3-4 of the Refund/Rollover Request booklet) or Rollover Request form (p. 7-8 of the Refund/Rollover Request booklet).
• Make sure the name on your form is the same as it appears on your Social Security card.
• Sign your form in the presence of a notary public, and have the notary sign and stamp the “Notary Public” section of your form (you can do this at PERA).
• Attach a voided check or enter your banking information to have your refund deposited directly into your bank account.
• If you’re requesting a rollover, make sure an authorized representative from your financial institution completes and signs the “Financial Institution Certification” section.
• Sign IRS Form W-9 (p. 11 of the Refund/Rollover Request booklet).
• Submit your original, notarized paperwork:
  • Mail: P.O. Box 5800, Denver, CO 80217-5800
  • In person:
    • 1301 Pennsylvania St., Denver
    • 1120 West 122nd Avenue, Suite 200, Westminster

After You Submit Your Request

• You’ll receive your refund or rollover within 90 days of us receiving all contributions, documentation, and paperwork.
• Incomplete forms will require us to request additional information and may delay your refund or rollover.

What’s Included in Your Refund/Rollover

The amount of your refund/rollover will include:

• Your tax-deferred (pre-tax) member contributions.
• Any tax-paid (after-tax) money, if applicable.
• Interest compounded annually (the interest rate is set by the PERA Board and is subject to change annually; currently the interest rate is 3%).
• Money you paid to purchase service credit.
• Matching contributions, if applicable (see below).

Log in to your account to view the tax-deferred and tax-paid amounts in your PERA DB Plan account(s).