Get Colorado Pera Refund

» PERA does not withhold state tax, but you may be responsible for paying state taxes on the full amount when you file your state tax return for the year you receive the refund.

DPS benefit structure You will pay taxes when you withdraw your PERA account, either as an ongoing monthly benefit or as a one-time payment if you refund your account. If you refund, there is a default federal tax withholding of 20% that can be increased using the IRS Form W-4R.

DPS benefit structure You will pay taxes when you withdraw your PERA account, either as an ongoing monthly benefit or as a one-time payment if you refund your account. If you refund, there is a default federal tax withholding of 20% that can be increased using the IRS Form W-4R.

You are vested in PERA after 36 months of public service (60 months for members hired after June 2010). Being vested means you qualify for benefits at the minimum allowable age.

It can take up to 90 days after PERA receives the necessary documentation to receive your refund/rollover. What are my choices if I leave employment before I'm eligible to retire? You may leave your account with PERA for a future monthly benefit or rollover/refund your account.

Can I withdraw or borrow money from my PERA account? Every dollar you contribute to PERA will only ever go to fund your personal retirement benefit. You do not, however, have access to that money until you terminate PERA-covered employment. Learn more about your options when you leave employment here.

Both member and employer contribution rates can each increase (or decrease) by up to 0.5% per year, and cannot exceed certain limits also set in law....Member Contribution Rates. ContributionContribution Rates Effective July 1, 2022Member rate8.50%Auto adjust0.50%TOTAL9.00%

To withdraw your PERAPlus 401(k)/457 Plan accounts or PERA Defined Contribution Plan account, call Empower at 1-833-4-COPERA (1-833-426-7372).