Application for Lump-Sum Service Pension - Minnesota

Application for Lump-Sum Service Pension is a legal document that was released by the Minnesota Public Employees Retirement Association - a government authority operating within Minnesota.

FAQ

Q: What is the Lump-Sum Service Pension?
A: The Lump-Sum Service Pension is a retirement benefit provided by the state of Minnesota.

Q: Who is eligible for the Lump-Sum Service Pension?
A: To be eligible for the Lump-Sum Service Pension, you must have been an employee of the state of Minnesota and have completed at least 5 years of service.

Q: How do I apply for the Lump-Sum Service Pension?
A: To apply for the Lump-Sum Service Pension, you need to complete the application form provided by the Minnesota State Retirement System (MSRS) and submit it to the MSRS.

Q: What documents do I need to submit with my application?
A: You will need to submit proof of your employment and service with the state of Minnesota, such as pay stubs or personnel records.

Q: When should I apply for the Lump-Sum Service Pension?
A: It is recommended to apply for the Lump-Sum Service Pension at least 90 days before your intended retirement date.

Q: How much is the Lump-Sum Service Pension?
A: The amount of the Lump-Sum Service Pension varies depending on your years of service and average salary.

Q: Can I receive a partial Lump-Sum Service Pension?
A: No, the Lump-Sum Service Pension is paid out as a one-time lump sum.

Q: Is the Lump-Sum Service Pension taxable?
A: Yes, the Lump-Sum Service Pension is subject to federal income tax.