Page 28 - Public Employees Retirement Fund My Choice Plan Member Handbook for Local Government Employees

5.3.2 Forfeiture
When you separate from service with less than 5 years of participation, the non-vested portion of your variable rate (employer share) account will be forfeited. Prior years of participation service will be reinstated to your account if you return to My Choice Plan-covered employment. Forfeitures of non-vested monies are not reinstated to the account even if you return to My Choice Plan-covered employment. If you become re-employed with the same employer within 30 days, your forfeited money will be restored to your account.
5.3.3 Rollover Pre-Tax Contribution Account for Inactive Member
As of July 1, 2018, inactive members can roll over funds from a qualifying IRA or retirement plan into PERF and continue to direct the fund elections the same as with the DC funds. Complete the Transfer Funds from an Outside Account into a PERF RSA available on the Public Employees’ Retirement Fund (PERF) Member Forms page on the INPRS website.
Investment Options
Public Employees Retirement Fund My Choice Plan Page 28 of 50 Member Handbook for Local Government Employees
Effective: 07/01/2020