Any additional installments will be paid on the anniversary of your first payment. You will receive a Rollover Distribution Election form two months prior to each installment. You indicate on the form how you wish that installment to be disbursed. Interest will be credited to your remaining account balance each December 31 at the same rate as distributed to active members regular accounts. All accumulated interest will be paid with your final installment.
Federal regulations permit the direct transfer or rollover of all taxable dollars.
Any after-tax dollars in your member account will be paid directly to you. You may do a direct transfer to only one institution. You may make arrangements with the receiving institution for further transfers. You may owe income taxes on taxable money paid to you. Federal regulations require PERS to withhold 20 percent from all lump-sum distributions.