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MEMBERS - PERA
We are pleased to welcome you to PERA. As a PERA member, you are a part of Minnesota’s largest public pension plan. As a PERA member, you contribute a percentage of every paycheck to PERA.ONLINE SERVICES
If you have not received an email from PERA confirming a change in password, call PERA (1-888-892-7372 or 651-296-3636) to verify that our system initiated the change. DIVORCE - PERA1 - DO ALL OF MY PERA BENEFITS BELONG TO ME AFTER DIVORCE?YOUR FORMER SPOUSE MAY OR MAY NOT (DEPENDING ON THE COURT ORDER) BE AWARDED A PORTION OF YOUR PERA BENEFITS.2 - CAN PERA OFFER LEGAL ADVICE ON THE BEST WAY TO DIVIDE THE PENSION?NO. SINCE PERA CANNOT GIVE LEGAL ADVICE, YOU SHOULD CONTACT AN ATTORNEY. WE WILL, HOWEVER, WORK WITH YOU AND YOUR ATTORNEY TO DEVELOP LANGUAGE IN A...3 - CAN MY FORMER SPOUSE RECEIVE PAYMENT IMMEDIATELY FROM PERA?NO. PAYMENTS FROM PERA MAY BE MADE ONLY WHEN THE MEMBER ENDS HIS OR HER PUBLIC EMPLOYMENT, APPLIES FOR A MONTHLY BENEFIT OR REFUND, AND THE BENEFIT...4 - CAN PAYMENTS BE MADE TO MY FORMER SPOUSE IN A LUMP SUM AFTER I END MY PUBLIC SERVICE?IF YOU, AS THE PERA MEMBER, ACCEPT MONTHLY PAYMENTS, YOUR FORMER SPOUSE CANNOT BE PAID IN A LUMP SUM, BUT MUST ALSO ACCEPT MONTHLY PAYMENTS.5 - WILL BENEFIT OR REFUND PAYMENTS BE MADE TO MY FORMER SPOUSE WITHOUT A COURT ORDER?NO. PERA MUST HAVE A CERTIFIED COPY OF YOUR COURT ORDER DIVIDING THE PERA PENSION (OR A TEMPORARY RESTRAINING ORDER PREVENTING YOU FROM APPLYING FO...6 - CAN THE TYPE OF PENSION I SELECT AT RETIREMENT BE CHANGED LATER?A BENEFIT OPTION, ONCE GRANTED, CANNOT NORMALLY BE REVOKED OR CHANGED. IF YOU NAME YOUR FORMER SPOUSE AS YOUR SURVIVOR, PAYMENTS WILL CONTINUE TO Y...7 - DO PAYMENTS CONTINUE TO MY FORMER SPOUSE'S ESTATE AFTER HIS/HER DEATH?A PORTION OF YOUR PENSION BENEFITS OR RIGHTS MAY BE GRANTED TO YOUR FORMER SPOUSE AS A DIVISION OF MARITAL PROPERTY, IN PLACE OF LIQUID ASSETS (UNL...8 - I WAS DIVORCED IN 1986. WHY CAN'T PERA MAKE PAYMENT TO MY FORMER SPOUSE?THE LAW ALLOWING PERA TO MAKE PAYMENTS DIRECTLY TO A FORMER SPOUSE WAS NOT ENACTED UNTIL MID-1987. CONSEQUENTLY, PERA DOES NOT HAVE THE AUTHORITY T...9 - I WILL BE DIVORCED IN WISCONSIN. CAN YOU ACCEPT THE COURT ORDER?YES. HOWEVER, THE COURT ORDER MUST BE FILED IN MINNESOTA BEFORE WE CAN ADMINISTER THE DOCUMENT.10 - DOES MY FORMER SPOUSE REMAIN MY BENEFICIARY IF I SO DESIGNATED PRIOR TO MY DIVORCE?NO. UNDER MINNESOTA LAW, THE DESIGNATION OF A SPOUSE AS BENEFICIARY IS REVOKED UPON MARRIAGE DISSOLUTION. IF THE DIVORCE DECREE OR OTHER COURT ORDE... The law allowing PERA to make payments directly to a former spouse was not enacted until mid-1987. Consequently, PERA does not have the authority to make such payments to a former spouse if the divorce decree was filed before August 1, 1987. PREPARING FOR RETIREMENT Your pension is a Defined Benefit Plan, which means your monthly benefit will be determine by a formula and is payable for life. Eligibility. The minimum age to draw a benefit is 55 for the General Plan, and 50 for Correctional and Police & Fire plans, however, drawing early will reduce your benefit. The normal retirement age is 66 (65 if you were hired prior to July 1, 1989) for the GeneralEMPLOYER LOOKUP
Want to know who’s covered by PERA? This is a searchable list of the more than 3,500 employers who offer PERA retirement plan membership to their eligible employees.Employers List Search by Employer ID: Employer Name: Org Type: Clear filters wdt_ID Employer ID Employer Name Org Type 1 0836-00 ADAMS AREA AMBULANCE SERVICE Ambulance Service2
ELECTED OFFICIALS
The Defined Contribution Plan (DCP) administered by PERA is a tax-deferred retirement savings program for elected public officials (and public physicians and ambulance service personnel) in which participants determine how employee and employer contributions are to be invested through the purchase of shares in accounts of the Minnesota Supplemental Investment Fund. EXAMPLE CALCULATIONS Marital portion benefits Let’s assume that according to a court order on file, the former spouse is entitled to one-half the marital portion of the member’s benefit, and the member is to select the 50 percent Survivor option for the marriage period. ELIGIBILITY FOR MEMBERSHIP With some exceptions, a governmental subdivision must provide Defined Benefit Plan (DBP) membership to every full or part-time employee who is projected to have annual earnings in excess of $5,100 if the employment is year-round (12 months) or $3,800 if the employment is for the school year (Sept.-May/June).In those situations in which you exclude an employee from DBP membership due to PHASED RETIREMENT OPTION AGREEMENT PUBLIC EMPLOYEES RETIREMENT ASSOCIATION. 60 Empire Drive, Suite 200 |St. Paul, MN 55103
PERAMEMBERSBENEFIT RECIPIENTSEMPLOYERSRESOURCESFINANCIALABOUT The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021 boardMEMBERS - PERA
We are pleased to welcome you to PERA. As a PERA member, you are a part of Minnesota’s largest public pension plan. As a PERA member, you contribute a percentage of every paycheck to PERA.ONLINE SERVICES
If you have not received an email from PERA confirming a change in password, call PERA (1-888-892-7372 or 651-296-3636) to verify that our system initiated the change. DIVORCE - PERA1 - DO ALL OF MY PERA BENEFITS BELONG TO ME AFTER DIVORCE?YOUR FORMER SPOUSE MAY OR MAY NOT (DEPENDING ON THE COURT ORDER) BE AWARDED A PORTION OF YOUR PERA BENEFITS.2 - CAN PERA OFFER LEGAL ADVICE ON THE BEST WAY TO DIVIDE THE PENSION?NO. SINCE PERA CANNOT GIVE LEGAL ADVICE, YOU SHOULD CONTACT AN ATTORNEY. WE WILL, HOWEVER, WORK WITH YOU AND YOUR ATTORNEY TO DEVELOP LANGUAGE IN A...3 - CAN MY FORMER SPOUSE RECEIVE PAYMENT IMMEDIATELY FROM PERA?NO. PAYMENTS FROM PERA MAY BE MADE ONLY WHEN THE MEMBER ENDS HIS OR HER PUBLIC EMPLOYMENT, APPLIES FOR A MONTHLY BENEFIT OR REFUND, AND THE BENEFIT...4 - CAN PAYMENTS BE MADE TO MY FORMER SPOUSE IN A LUMP SUM AFTER I END MY PUBLIC SERVICE?IF YOU, AS THE PERA MEMBER, ACCEPT MONTHLY PAYMENTS, YOUR FORMER SPOUSE CANNOT BE PAID IN A LUMP SUM, BUT MUST ALSO ACCEPT MONTHLY PAYMENTS.5 - WILL BENEFIT OR REFUND PAYMENTS BE MADE TO MY FORMER SPOUSE WITHOUT A COURT ORDER?NO. PERA MUST HAVE A CERTIFIED COPY OF YOUR COURT ORDER DIVIDING THE PERA PENSION (OR A TEMPORARY RESTRAINING ORDER PREVENTING YOU FROM APPLYING FO...6 - CAN THE TYPE OF PENSION I SELECT AT RETIREMENT BE CHANGED LATER?A BENEFIT OPTION, ONCE GRANTED, CANNOT NORMALLY BE REVOKED OR CHANGED. IF YOU NAME YOUR FORMER SPOUSE AS YOUR SURVIVOR, PAYMENTS WILL CONTINUE TO Y...7 - DO PAYMENTS CONTINUE TO MY FORMER SPOUSE'S ESTATE AFTER HIS/HER DEATH?A PORTION OF YOUR PENSION BENEFITS OR RIGHTS MAY BE GRANTED TO YOUR FORMER SPOUSE AS A DIVISION OF MARITAL PROPERTY, IN PLACE OF LIQUID ASSETS (UNL...8 - I WAS DIVORCED IN 1986. WHY CAN'T PERA MAKE PAYMENT TO MY FORMER SPOUSE?THE LAW ALLOWING PERA TO MAKE PAYMENTS DIRECTLY TO A FORMER SPOUSE WAS NOT ENACTED UNTIL MID-1987. CONSEQUENTLY, PERA DOES NOT HAVE THE AUTHORITY T...9 - I WILL BE DIVORCED IN WISCONSIN. CAN YOU ACCEPT THE COURT ORDER?YES. HOWEVER, THE COURT ORDER MUST BE FILED IN MINNESOTA BEFORE WE CAN ADMINISTER THE DOCUMENT.10 - DOES MY FORMER SPOUSE REMAIN MY BENEFICIARY IF I SO DESIGNATED PRIOR TO MY DIVORCE?NO. UNDER MINNESOTA LAW, THE DESIGNATION OF A SPOUSE AS BENEFICIARY IS REVOKED UPON MARRIAGE DISSOLUTION. IF THE DIVORCE DECREE OR OTHER COURT ORDE... The law allowing PERA to make payments directly to a former spouse was not enacted until mid-1987. Consequently, PERA does not have the authority to make such payments to a former spouse if the divorce decree was filed before August 1, 1987. PREPARING FOR RETIREMENT Your pension is a Defined Benefit Plan, which means your monthly benefit will be determine by a formula and is payable for life. Eligibility. The minimum age to draw a benefit is 55 for the General Plan, and 50 for Correctional and Police & Fire plans, however, drawing early will reduce your benefit. The normal retirement age is 66 (65 if you were hired prior to July 1, 1989) for the GeneralEMPLOYER LOOKUP
Want to know who’s covered by PERA? This is a searchable list of the more than 3,500 employers who offer PERA retirement plan membership to their eligible employees.Employers List Search by Employer ID: Employer Name: Org Type: Clear filters wdt_ID Employer ID Employer Name Org Type 1 0836-00 ADAMS AREA AMBULANCE SERVICE Ambulance Service2
ELECTED OFFICIALS
The Defined Contribution Plan (DCP) administered by PERA is a tax-deferred retirement savings program for elected public officials (and public physicians and ambulance service personnel) in which participants determine how employee and employer contributions are to be invested through the purchase of shares in accounts of the Minnesota Supplemental Investment Fund. EXAMPLE CALCULATIONS Marital portion benefits Let’s assume that according to a court order on file, the former spouse is entitled to one-half the marital portion of the member’s benefit, and the member is to select the 50 percent Survivor option for the marriage period. ELIGIBILITY FOR MEMBERSHIP With some exceptions, a governmental subdivision must provide Defined Benefit Plan (DBP) membership to every full or part-time employee who is projected to have annual earnings in excess of $5,100 if the employment is year-round (12 months) or $3,800 if the employment is for the school year (Sept.-May/June).In those situations in which you exclude an employee from DBP membership due to PHASED RETIREMENT OPTION AGREEMENT PUBLIC EMPLOYEES RETIREMENT ASSOCIATION. 60 Empire Drive, Suite 200 |St. Paul, MN 55103
MEMBERS - PERA
We are pleased to welcome you to PERA. As a PERA member, you are a part of Minnesota’s largest public pension plan. As a PERA member, you contribute a percentage of every paycheck to PERA.MNPERA.ORG
mnpera.org
PLANS - PERA
PERA administers three defined benefit plans—The General Plan, the Police & Fire Plan, and the Correctional Plan. PERA also administers the Statewide Volunteer Firefighter Retirement Plan (SVFRP) and the Defined Contribution Plan (DCP). PREPARING FOR RETIREMENT Your pension is a Defined Benefit Plan, which means your monthly benefit will be determine by a formula and is payable for life. Eligibility. The minimum age to draw a benefit is 55 for the General Plan, and 50 for Correctional and Police & Fire plans, however, drawing early will reduce your benefit. The normal retirement age is 66 (65 if you were hired prior to July 1, 1989) for the GeneralDISABILITY BENEFITS
To Qualify for Disability. Your disability must have lasted or be expected to last at least one year to qualify for disability benefitsfrom PERA.
OUR ORGANIZATION
The Account Information Management division (AIM) is the keeper of member data and the primary point of contact for PERA employers. AIM assists employers with eligibility and enrollment, contributions and status changes, and compliance with reporting and data integrity requirements.The division offers a variety of resources to employers, including a quarterly newsletter, web-based EmployerFACT SHEETS
Fact Sheets. PERA is committed to keeping employers informed of reporting requirements, and information regarding membership and contributions. As a service to all employers, we have made these Fact Sheets available on our website for your convenience.PAYMENT SCHEDULE
353.29 Subd. 7 & Subd. 8: – Subd 8. Annuities; payment. – Payment of any annuity or benefit for a given month must be mailed by the association to the annuitant, recipient of a disability benefit, or survivor, or must be automatically deposited under section 401, subdivision 2, during the first week of that month.DEATH BENEFITS
PUBLIC EMPLOYEES RETIREMENT ASSOCIATION. 60 Empire Drive, Suite 200 |St. Paul, MN 55103
LEGISLATURE ADOPTS PHASED RETIREMENT OPTION (PRO) The Phased Retirement Option (PRO) became a permanent part of PERA’s benefit structure when the Legislature passed the Omnibus Retirement Bill during the Legislative Special Session. Both employers and employees supported the PRO, which was set to expire. The program creates a flexible environment where employees can transition into retirement and employers are able to PERAMEMBERSBENEFIT RECIPIENTSEMPLOYERSRESOURCESFINANCIALABOUT PERA’s retirement plans projected to be fully funded by 2040. The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021 board.MEMBERS - PERA
If you registered with myPERA and are not sure which email you used to create your account, contact us at 651-296-7460 or 1-800-652-9026. We can help you get back online. Remember, we respect your privacy and will never share your email with third parties. Security Updates to myPERA. You can be confident that your myPERA account is secure. APPLICATION FOR REFUND Complete this form if you are planning a refund, rollover, or trusttransfer.
DIVORCE - PERA
The law allowing PERA to make payments directly to a former spouse was not enacted until mid-1987. Consequently, PERA does not have the authority to make such payments to a former spouse if the divorce decree was filed before August 1, 1987. If your former spouse was granted a portion of your pension in a decree filed prior to thatdate, an
EMPLOYER LOOKUP
Want to know who’s covered by PERA? This is a searchable list of the more than 3,500 employers who offer PERA retirement plan membership to their eligible employees.Employers List Search by Employer ID: Employer Name: Org Type: Clear filters wdt_ID Employer ID Employer Name Org Type 1 0836-00 ADAMS AREA AMBULANCE SERVICE Ambulance Service2
EXAMPLE CALCULATIONS Thus, 50 percent (10 years /20 years = 50 percent) of the total service is the marital portion. The PERA member is age 55, and the former spouse is age 53. The Single-life pension is estimated at $2,000 per month. The calculation of the pension amount to be awarded to the former spouse is as follows: $2,000. x 50%. $1,000 (maritalportion
DISABILITY BENEFITS
Disability benefits begin when you no longer have sick or vacation time credited to you and are no longer receiving any other salary payments. Benefits can be paid retroactively, but no more than 90 days prior to the day PERA receives your application.DEATH BENEFITS
The option is a 25, 50, 75 or 100 percent survivor benefit. Upon the member’s death, these benefits pay 25, 50, 75 or 100 percent of the value of the current monthly pension to the individual named as the survivor. If you select a survivor option and your survivor dies before you, the amount of the pension will increase to the level ofthe
VERIFICATION OF TERMINATION Verification of Termination. March 1, 2019. You must submit this form with your Retirement Application. Your employer must complete thisform.
CONTRIBUTION RATES
Current contribution rates in effect for the Defined Benefit and Defined Contribution plans that PERA administers. Retirement plan contribution rates are subject to change by the Minnesota Legislature. Plan Employee Employer General/Coordinated 6.5% 7.5% Police & Fire 11.8% 17.7% Correctional 5.83% 8.75% *General Plan: Employer 6.5% + 1% additional Defined Contribution Plans Employee Employer PERAMEMBERSBENEFIT RECIPIENTSEMPLOYERSRESOURCESFINANCIALABOUT PERA’s retirement plans projected to be fully funded by 2040. The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021 board.MEMBERS - PERA
If you registered with myPERA and are not sure which email you used to create your account, contact us at 651-296-7460 or 1-800-652-9026. We can help you get back online. Remember, we respect your privacy and will never share your email with third parties. Security Updates to myPERA. You can be confident that your myPERA account is secure. APPLICATION FOR REFUND Complete this form if you are planning a refund, rollover, or trusttransfer.
DIVORCE - PERA
The law allowing PERA to make payments directly to a former spouse was not enacted until mid-1987. Consequently, PERA does not have the authority to make such payments to a former spouse if the divorce decree was filed before August 1, 1987. If your former spouse was granted a portion of your pension in a decree filed prior to thatdate, an
EMPLOYER LOOKUP
Want to know who’s covered by PERA? This is a searchable list of the more than 3,500 employers who offer PERA retirement plan membership to their eligible employees.Employers List Search by Employer ID: Employer Name: Org Type: Clear filters wdt_ID Employer ID Employer Name Org Type 1 0836-00 ADAMS AREA AMBULANCE SERVICE Ambulance Service2
EXAMPLE CALCULATIONS Thus, 50 percent (10 years /20 years = 50 percent) of the total service is the marital portion. The PERA member is age 55, and the former spouse is age 53. The Single-life pension is estimated at $2,000 per month. The calculation of the pension amount to be awarded to the former spouse is as follows: $2,000. x 50%. $1,000 (maritalportion
DISABILITY BENEFITS
Disability benefits begin when you no longer have sick or vacation time credited to you and are no longer receiving any other salary payments. Benefits can be paid retroactively, but no more than 90 days prior to the day PERA receives your application.DEATH BENEFITS
The option is a 25, 50, 75 or 100 percent survivor benefit. Upon the member’s death, these benefits pay 25, 50, 75 or 100 percent of the value of the current monthly pension to the individual named as the survivor. If you select a survivor option and your survivor dies before you, the amount of the pension will increase to the level ofthe
VERIFICATION OF TERMINATION Verification of Termination. March 1, 2019. You must submit this form with your Retirement Application. Your employer must complete thisform.
CONTRIBUTION RATES
Current contribution rates in effect for the Defined Benefit and Defined Contribution plans that PERA administers. Retirement plan contribution rates are subject to change by the Minnesota Legislature. Plan Employee Employer General/Coordinated 6.5% 7.5% Police & Fire 11.8% 17.7% Correctional 5.83% 8.75% *General Plan: Employer 6.5% + 1% additional Defined Contribution Plans Employee EmployerMEMBERS - PERA
If you registered with myPERA and are not sure which email you used to create your account, contact us at 651-296-7460 or 1-800-652-9026. We can help you get back online. Remember, we respect your privacy and will never share your email with third parties. Security Updates to myPERA. You can be confident that your myPERA account is secure.ONLINE SERVICES
From the Internet system, you may select the Help button to view online instructions and guidelines. Additionally, if you are having problems with either the Internet or telephone payment systems, you may contact a member of the PERA staff at 651-296-3636 or toll-free at 1-888-892-PERA (7372).PLANS - PERA
PERA administers three defined benefit plans—The General Plan, the Police & Fire Plan, and the Correctional Plan. PERA also administers the Statewide Volunteer Firefighter Retirement Plan (SVFRP) and the Defined Contribution Plan (DCP). General Plan: Members of this plan include employees from cities, counties, and school districts. PREPARING FOR RETIREMENT The normal retirement age is 66 (65 if you were hired prior to July 1, 1989) for the General plan, or 55 for both Correctional and Police & Fire. 30 Day Separation. PERA law requires a complete separation from all Minnesota public service for 30 days. You cannot have a written or verbal agreement to return to work for any Minnesota public employer.CONTACT US - PERA
Tip regarding e-mail communications. Inquiries, requests and other communication may be transmitted to PERA via email. Because email is not secure, members wishing to communicate with PERA by email may not wish to include their Social Security number or other personalinformation.
FORMS & PUBLICATIONS Complete this form to enroll an employee whose coverage under the Coordinated, Correctional, Police and Fire or Basic plan is required. This form may only be used by employers who lack the ability to access PERA’s Employer Reporting and Information System (ERIS) View.DIRECT DEPOSIT
Direct Deposit. PERA provides direct deposit as a service for members. Your benefit will be electronically deposited in your account on the first banking day of the month if you complete a Direct Deposit Agreement. You can apply for direct deposit at any time. If you are already having your monthly benefit deposited electronically, and youwish
SERVICE CREDIT
Service Credit. PERA awards you one service credit for each month in which you worked and were compensated by your employer. You may also receive credit for up to three months while on a layoff status. As an example, school employees who work full time during the school year and are on layoff over the three summer months receive 12 months ofFACT SHEETS
Fact Sheets. PERA is committed to keeping employers informed of reporting requirements, and information regarding membership and contributions. As a service to all employers, we have made these Fact Sheets available on our website for your convenience. ELIGIBILITY FOR MEMBERSHIP Eligibility for Membership. With some exceptions, a governmental subdivision must provide Defined Benefit Plan (DBP) membership to every full or part-time employee who is projected to have annual earnings in excess of $5,100 if the employment is year-round (12 months) or $3,800 if the employment is for the school year(Sept.-May/June).
PERAMEMBERSBENEFIT RECIPIENTSEMPLOYERSRESOURCESFINANCIALABOUT PERA’s retirement plans projected to be fully funded by 2040. The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021 board.MEMBERS - PERA
If you registered with myPERA and are not sure which email you used to create your account, contact us at 651-296-7460 or 1-800-652-9026. We can help you get back online. Remember, we respect your privacy and will never share your email with third parties. Security Updates to myPERA. You can be confident that your myPERA account is secure.ONLINE SERVICES
From the Internet system, you may select the Help button to view online instructions and guidelines. Additionally, if you are having problems with either the Internet or telephone payment systems, you may contact a member of the PERA staff at 651-296-3636 or toll-free at 1-888-892-PERA (7372).BENEFITS - PERA
As a PERA member, you contribute a percentage of every paycheck to PERA. In exchange, you’ll receive a lifetime defined benefit payment, or a pension, at retirement. In addition to that monthly benefit, PERA also provides benefits life survivor and disability benefits. We provide many resources to help you plan a successfulretirement
APPLICATION FOR REFUND Complete this form if you are planning a refund, rollover, or trusttransfer.
EXAMPLE CALCULATIONS Thus, 50 percent (10 years /20 years = 50 percent) of the total service is the marital portion. The PERA member is age 55, and the former spouse is age 53. The Single-life pension is estimated at $2,000 per month. The calculation of the pension amount to be awarded to the former spouse is as follows: $2,000. x 50%. $1,000 (maritalportion
REFUND - PERA
Refund. As a member of PERA, you have options when you leave public employment. If you are not vested and remain out of PERA service, you should apply for a refund within five years after your last member contribution was made. If you are vested, you may leave your money inPERA for a
DEATH BENEFITS
The option is a 25, 50, 75 or 100 percent survivor benefit. Upon the member’s death, these benefits pay 25, 50, 75 or 100 percent of the value of the current monthly pension to the individual named as the survivor. If you select a survivor option and your survivor dies before you, the amount of the pension will increase to the level ofthe
FAQ’S - PERA
For a Defined Benefit Plan member, a PERA pension is based on a formula using three variables: your age at retirement, the average of your highest five consecutive years’ salary, and your years ofservice credit.
VERIFICATION OF TERMINATION Verification of Termination. March 1, 2019. You must submit this form with your Retirement Application. Your employer must complete thisform.
PERAMEMBERSBENEFIT RECIPIENTSEMPLOYERSRESOURCESFINANCIALABOUT PERA’s retirement plans projected to be fully funded by 2040. The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021 board.MEMBERS - PERA
If you registered with myPERA and are not sure which email you used to create your account, contact us at 651-296-7460 or 1-800-652-9026. We can help you get back online. Remember, we respect your privacy and will never share your email with third parties. Security Updates to myPERA. You can be confident that your myPERA account is secure.ONLINE SERVICES
From the Internet system, you may select the Help button to view online instructions and guidelines. Additionally, if you are having problems with either the Internet or telephone payment systems, you may contact a member of the PERA staff at 651-296-3636 or toll-free at 1-888-892-PERA (7372).BENEFITS - PERA
As a PERA member, you contribute a percentage of every paycheck to PERA. In exchange, you’ll receive a lifetime defined benefit payment, or a pension, at retirement. In addition to that monthly benefit, PERA also provides benefits life survivor and disability benefits. We provide many resources to help you plan a successfulretirement
APPLICATION FOR REFUND Complete this form if you are planning a refund, rollover, or trusttransfer.
EXAMPLE CALCULATIONS Thus, 50 percent (10 years /20 years = 50 percent) of the total service is the marital portion. The PERA member is age 55, and the former spouse is age 53. The Single-life pension is estimated at $2,000 per month. The calculation of the pension amount to be awarded to the former spouse is as follows: $2,000. x 50%. $1,000 (maritalportion
REFUND - PERA
Refund. As a member of PERA, you have options when you leave public employment. If you are not vested and remain out of PERA service, you should apply for a refund within five years after your last member contribution was made. If you are vested, you may leave your money inPERA for a
DEATH BENEFITS
The option is a 25, 50, 75 or 100 percent survivor benefit. Upon the member’s death, these benefits pay 25, 50, 75 or 100 percent of the value of the current monthly pension to the individual named as the survivor. If you select a survivor option and your survivor dies before you, the amount of the pension will increase to the level ofthe
FAQ’S - PERA
For a Defined Benefit Plan member, a PERA pension is based on a formula using three variables: your age at retirement, the average of your highest five consecutive years’ salary, and your years ofservice credit.
VERIFICATION OF TERMINATION Verification of Termination. March 1, 2019. You must submit this form with your Retirement Application. Your employer must complete thisform.
BENEFITS - PERA
As a PERA member, you contribute a percentage of every paycheck to PERA. In exchange, you’ll receive a lifetime defined benefit payment, or a pension, at retirement. In addition to that monthly benefit, PERA also provides benefits life survivor and disability benefits. We provide many resources to help you plan a successfulretirement
RETIREES - PERA
Welcome PERA Retirees. Congratulations on your retirement. After your time in public service, now is the time for you to enjoy your retirement. Even though you are retired, it’s still important to stay connected to PERA. We provide information to you about important considerations in your retirement—everything from working afterretirement
DISABILITY BENEFITS
Disability benefits begin when you no longer have sick or vacation time credited to you and are no longer receiving any other salary payments. Benefits can be paid retroactively, but no more than 90 days prior to the day PERA receives your application.EMPLOYERS - PERA
Welcome Employers! Our website is your source for the latest information from PERA, Minnesota’s largest public employee retirement system. We strive to provide programs, materials, and services that will help all local units of government and schooldistricts fulfill
EMPLOYER LOOKUP
Want to know who’s covered by PERA? This is a searchable list of the more than 3,500 employers who offer PERA retirement plan membership to their eligible employees.Employers List Search by Employer ID: Employer Name: Org Type: Clear filters wdt_ID Employer ID Employer Name Org Type 1 0836-00 ADAMS AREA AMBULANCE SERVICE Ambulance Service2
ELECTED OFFICIALS
The Defined Contribution Plan (DCP) administered by PERA is a tax-deferred retirement savings program for elected public officials (and public physicians and ambulance service personnel) in which participants determine how employee and employer contributions are to be invested through the purchase of shares in accounts of the Minnesota Supplemental Investment Fund.PAYMENT SCHEDULE
Payment Schedule. State law requires PERA to pay benefits during the first week of the month. To ensure members receive their benefits as soon as possible, PERA directly deposit benefits into your bank account the first business day of the month. Generally, PERA mails actual checks the last business day of the previous month to reach themember
REFUND - PERA
Refund. As a member of PERA, you have options when you leave public employment. If you are not vested and remain out of PERA service, you should apply for a refund within five years after your last member contribution was made. If you are vested, you may leave your money inFACT SHEETS
Fact Sheets. PERA is committed to keeping employers informed of reporting requirements, and information regarding membership and contributions. As a service to all employers, we have made these Fact Sheets available on our website for your convenience. ELIGIBILITY FOR MEMBERSHIP Eligibility for Membership. With some exceptions, a governmental subdivision must provide Defined Benefit Plan (DBP) membership to every full or part-time employee who is projected to have annual earnings in excess of $5,100 if the employment is year-round (12 months) or $3,800 if the employment is for the school year(Sept.-May/June).
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.slide" data-cycle-swipe="true" data-cycle-auto-height="calc" data-cycle-prev="> .frame .slider-prev" data-cycle-next="> .frame .slider-next" data-cycle-pager="> .frame .slider-nav" data-cycle-pager-template="•"> EMPLOYERS-CHECK OUT OUR NEW REPORTING TRAINING WEBINAR! Registration now open•••
EMPLOYERS-CHECK OUT OUR NEW REPORTING TRAINING WEBINAR! Registration now openPERA IS 90!
About Us Our Organization LEARN HOW TO COMPLETE YOUR RETIREMENT APPLICATIONWatch the video
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APPLY FOR RETIREMENT The process of retiring is not something that happens in a single day, nor is it a single decision that can be made easily.*
REQUEST A REFUND
When you leave public employment, you may request a refund of yourcontributions.
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UPDATE MY PERSONAL INFORMATION MY PERA makes it simple and fast to update your personal information, change addresses, or view your benefits.*
ATTEND A LIVE WEBINAR Learn about your PERA benefits with one of our free educationsessions.
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FIND A FORM OR PUBLICATION Find any forms or publications you may need here.*
LEARN ABOUT YOUR PLAN PERA administers three defined benefit plans, find the one that best suits you or learn more about your current plan. THE LATEST FROM PERAVIEW ALL
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PERA’S RETIREMENT PLANS PROJECTED TO BE FULLY FUNDED BY 2040 The Board of Trustees received an actuarial update on the financial health of PERA’s three largest plans at the February 11, 2021board…
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1099-RS NOW AVAILABLE If you are a benefit recipient receiving a monthly benefit, your 1099-R is now available to download and print in your myPERA…*
2021 COST OF LIVING ADJUSTMENT In January, 2021, PERA benefit recipients will receive an annual Cost of Living Adjustment (COLA). General Plan and Police & Fire Plan… PUBLIC EMPLOYEES RETIREMENT ASSOCIATION 60 Empire Drive, Suite 200 | St. Paul, MN 55103 PERA’s mission is to administer and promote sustainable retirement plans and provide services that our members value. CONTACT | CAREERS | EQUAL OPPORTUNITY EMPLOYER| SITEMAP
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