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State Correction Officers and Security Hospital Treatment Assistants Plan

For ERS Tier 3, 5 and 6 Members (Article 14-CO)

Withdrawing Your Contributions and/or Membership

If you are a Tier 3 member and leave public employment with at least five, but less than ten years of credited service, you may choose to:

  • End your membership and withdraw your accumulated contributions (with interest compounded at 5 percent per year); or
  • Leave your contributions in your account and qualify for a retirement benefit when you are 55.

To help you decide which would be more beneficial, project your pension using the “vested retirement” choice. Or, contact our Call Center to request a benefit projection. This is especially helpful if you have an outstanding loan balance, because you will receive a projection including the amount your benefit would be reduced if you choose not to pay off the loan balance.

If you are a Tier 5 or 6 member who leaves public employment with less than ten years of credited service, you may end your membership and withdraw your accumulated contributions (with interest compounded at 5 percent per year).

If you choose to withdraw, or you do not qualify for a retirement benefit, you should file the Withdrawal Application (RS5014) Adobe pdf no earlier than 15 days after you leave public employment.

If you qualify for a retirement benefit and you do not withdraw your membership, you may apply for a retirement benefit when you reach 55.

Once you have ten or more years of credited service, you cannot withdraw from the Retirement System.