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11-06-2023 Council Work Session Packet
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11-06-2023 Council Work Session Packet
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11/7/2023 12:14:00 PM
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11/7/2023 10:12:38 AM
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City Council
Council Document Type
Council Packet
Meeting Date
11/06/2023
Council Meeting Type
Work Session Regular
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Regardless of your length of service, you are <br />entitled to a refund of your employee contribu- <br />tions plus interest, compounded annually, after <br />your termination of public employment. Keep in <br />mind, however, that employer contributions are <br />not refundable and you will forfeit all future PERA <br />benefits. <br />Repayment of a refund <br /> If you were previously a PERA member who left <br />public service and received a refund, you have the <br />option to repay the refund to restore lost service <br />credit with PERA after you have earned an addi- <br />tional six months of service credit as a member. <br />Combined service benefits <br />You may combine your service in PERA with <br />service in other covered Minnesota public pension <br />plans. This entitles you to a combined service <br />pension from each of the plans in which you have <br />service. Combined service pensions often provide <br />a higher overall level of retirement income. <br />How to learn more <br />As this pamphlet's name implies, this is a <br />very brief summary of your retirement plan <br />provisions. For a more comprehensive overview, <br />take a few minutes to visit our website at <br /> www.mnpera.org. If you visit our website, you'll <br />find much more information about your retire- <br />ment plan and PERA itself. <br />Register as an online member <br />By clicking on the MY PERA button at www. <br />mnpera.org and registering as an online mem- <br />ber, you have instant access to your individual <br />data on file with PERA. This includes the indi- <br />viduals we have listed as your beneficiaries, your <br />payroll deductions and date of membership. <br />Check your account periodically for accuracy and <br />to inform us if corrections need to be made. An <br />improper delay in your PERA enrollment or an <br />incorrect salary amount may only be corrected <br />within a three-year period. <br />You can also create your own retirement, dis- <br />ability and survivor estimates, or register for one <br />of our educational programs <br />or conferences any time, <br />day or night, at MY PERA. <br />MY PERA—your 24/7 <br />connection to PERA. <br />Public Employees Retirement <br />Association of Minnesota January 2015 <br />PERA: Just the Basics <br />This publication is intended to provide general informa- <br />tion; the rights and obligations of PERA members are gov- <br />erned by state and federal laws, rules and regulations. <br />The Minnesota Legislature or the federal government <br />may change the statutes, rules and regulations govern- <br />ing PERA at any time. If there is a discrepancy between <br />the law governing PERA and the information contained in <br />this publication, the statutes and regulations shall govern. <br />This document is available in alternative formats <br />to individuals with disabilities by calling <br />(651) 296-7460 or 1 800 652-9026, or through the <br />Minnesota Relay Service at 1 800 627-3529. <br />Public Employees Retirement Association of Minnesota <br />60 Empire Drive, St. Paul MN 55103-2088 <br />1 800 652-9026 (651) 296-7460 www.mnpera.org <br />Who we are; <br />what we do <br />For Coordinated <br />Plan Members <br />PRESORTED STANDARDU.S. POSTAGE PAIDTWIN CITIES MN PERMIT 171Public Employees Retirement Association of Minnesota 60 Empire Drive, Suite 200 St. Paul, MN 55103-2088Just the Basic <br />s <br />291
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