Ending IPERS-Covered Employment
Before Retirement

When can I withdraw my contributions?
If you quit working for an IPERS-covered employer, you can apply for a refund. However, you should consider your alternatives carefully, including leaving your money at IPERS or rolling over your account to another retirement plan. You should call IPERS to check on current or future monthly benefits that may be available to you.

What happens if I change jobs before I retire?
If your new job is not covered by IPERS, you can decide what to do with your IPERS account. You may leave your money at IPERS, roll over your money to another retirement plan, or take a refund. If you are a vested member or plan to return to work in a job covered by IPERS, it may be best to leave your money at IPERS. Read more about the alternatives available to you and the consequences of your decision.

If your new employer provides IPERS benefits, your membership in IPERS continues automatically.

Can I continue contributing to IPERS if I end employment before retirement?
No. You may contribute to IPERS only if you are employed with an IPERS-covered employer in a covered position.

Can I get back all my contributions and my employer’s contributions?
Your contributions are always yours. Your refund also will include any interest credited to your account. If you are a vested member, you will receive a portion of your employer’s accumulated contributions based on a formula. (To determine the portion of your employer’s contributions that you would be entitled to, divide your years of service by 30 if you are a regular member or 22 if you are a sheriff, deputy sheriff, or in another protection occupation.)

Does a refund of my contributions cancel all service credit?
Yes. If you later return to covered employment, you are enrolled in IPERS as a new member without credit for any service before the refund. It is possible to restore the previous time by purchasing service once you become a vested member under your current employment. However, buying back service can be expensive so it is important to consider that before deciding to take a refund.

Is the Application for IPERS Refund available on the IPERS Web site?
Yes. To apply for a refund, please print the application, complete it, and submit it to IPERS as indicated on the form. The application includes IPERS’ Special Tax Notice Regarding Plan Payments on pages 2–7. Like all IPERS publications and forms, the application and the Special Tax Notice by itself are available from IPERS in writing for free.