Laserfiche WebLink
The procedure <br />Phased retirement requires a <br />written agreement between you <br />and the PERA-covered employ- <br />er .offering you the option. <br />You must file both a Phased <br />Retirement Agreement form <br />and an Application for PERA <br />Retirement Berne fits with PERA. <br />All other PERA benefit and appli- <br />cation. requirements must be met. <br />If your phased retirement <br />agreement is not renewed, your <br />employer must report your ter- <br />mination of public employment <br />to PERA. You inay not return <br />to work for your employer or <br />another PERA-covered employer <br />far a minimum of 30 days. If <br />you later rejoin PERA-covered <br />employment and are under Social <br />Security's full retirement age, you <br />will be subject to PERA's annual <br />earnings limit. <br />Not for retirees <br />Phased retirement is not avail- <br />able to PERA members who are <br />already receiving a retirement <br />benefit. Retirees who return to <br />PERA-covered work remain sub- <br />ject to the Association's earnings <br />limits. <br />SU nSet <br />Currently, the phased retire- <br />ment option is set. to end on <br />June 30, 2014. Until then, <br />PERA will be evaluating the <br />program's effectiveness and its <br />impact on the pension fund. <br />Continuation of the option <br />would require legislative action. <br />This document is available in alternative <br />formats to individuals with disabilities by <br />calling 1 800 652-9026 or through the <br />Minnesota Relav Service at <br />1 800 G27-3529. <br />This brochure is meant to explain the <br />Public. Employees Retirement Association <br />of Minnesota law as simply and accurately <br />as passible. If there is any discrepancy <br />between this publication and the actual <br />law; the provisions of the law will govern. <br />Public Employees Retirement <br />Association of Minnesota <br />60 Empire Drive, Suite 200 <br />St. Paul, Minnesota 55103-2088 <br />800 632-9026 ~ (651) 296-7460 <br />www, nanpera. org <br />~_ ~`' <br />A .~.i 1 <br />`- <br />f <br />'j L <br />-. <br />r t :. ,__ <br />PNA.~~f: <br />June 2010 <br />~,~ s ~sr <br />~~ ~ 'I ~ ~ j <br />An option for Coordinated <br />members age b2 and over <br />~m~ ~~ <br />public Employees Retirement <br />l~ssocation of Minnesota <br />