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Page 3 <br /> the amounts shown are those that you would collect as a pension if you chose the particular joint <br /> and survivor option listed at the top of the column (25, 50, 75, or 100 The estimates in the <br /> letter do not show the value of the pension that would be paid to your joint annuitant upon your <br /> death. <br /> Q How can I find out whether a pension plan I have paid into in the past will provide service <br /> credit eligible for the early retirement incentive program? <br /> A Any service credit that you have in a PERA pension plan is considered eligible service for the <br /> early retirement incentive program. However, years that you paid into PERA's Defined <br /> Contribution Plan do not qualify as service credit for the early retirement incentive program. <br /> If you paid into another Minnesota public pension plan and have a question about whether that <br /> service credit can be used under the early retirement program, contact that pension system and <br /> ask. (If you don't know what pension plan you paid into on a past job, contact your former <br /> employer to find out.) <br /> Q If I have more than 30 years of service credit, how will those years over 30 be handled under <br /> the early retirement incentive program? <br /> A The improved pension formula (the additional .25% in the benefit formula) applies only to the <br /> first 30 years of service you have. Consequently, the portion of your pension for your years of <br /> service over 30 years will be computed using the lower multiplier (in other words, minus the <br /> .25 normally used by your pension plan. <br /> For example, if you are a member of PERA's Coordinated Plan, you would normally receive <br /> 1.5% of your high -five average salary for most years of service credit you have. Under the <br /> improved pension option, you would receive an additional .25% (for a total of 1.75 of average <br /> salary for your first 30 years of service. If you have 35 years of service, you will receive 1.5% <br /> of average salary for each of the 5 years over 30. <br /> Q Can the additional service credit I would receive after repaying a PERA refund be applied to <br /> the early retirement incentive program? <br /> A Yes. You may repay a PERA refund and restore previously forfeited service credit, which <br /> could bring you up to the minimum 25 years of service needed to qualify for the program, if <br /> you initially had fewer than 25 years of service. And you can take advantage of the improved <br /> pension formula on these restored service credits if they are in your first 30 years of service. <br /> Q If my employer offers the improved pension formula, what must I do to retire under this <br /> option? <br /> A You must submit an application for retirement to PERA. You may obtain an application for <br /> retirement by contacting PERA at (612) 296 -7460 in the metropolitan area or toll -free at <br />