How Do I Learn More About My Options If I Terminate Employment?
Upon separation of employment, MCERA will shortly contact you to provide you with your options and for you to let us know which you prefer. Your options may be one of the following:
You may elect to defer retirement and leave your contributions on deposit.
You may defer retirement and establish reciprocity if you are accepting employment with an employer covered by a reciprocal retirement system, provided membership in the agency begins within 6 months of your separation date.
You may terminate your membership with MCERA and receive a refund of your contributions either paid directly to you or rollover to a qualified IRA. Generally, this process takes 6 to 10 weeks from your separation date or MCERA’s receipt of your request, whichever is later.
A member having credit for less than five years of service may elect to leave contributions on deposit. You may elect at any time to rescind in writing the election and withdraw your accumulated contributions.