Apers termination refund application 2025

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The document outlines the procedures and implications for members of the Arkansas Public Employees' Retirement System (APERS) who have terminated their employment and are eligible to request a refund of their contributions. It details the processing times for refunds, eligibility criteria, and the importance of service credit towards retirement benefits. Additionally, it explains the options for rolling over payments to IRAs or employer plans, tax implications associated with these transactions, and provides instructions for completing the refund request form.

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Click ‘Get Form’ to open the apers termination refund application in the editor.
Begin by filling out Section I, Member Information. Enter your Social Security Number, name, date of birth, mailing address, and daytime phone number.
Proceed to Section II, Member Election. Here, select your preferred distribution method for your payment (either 'Paid to Me' or 'Paid in a Direct Rollover'). Ensure you read the accompanying notices before signing.
In Section III, Employer Certification, have a representative from your employer’s payroll department complete this section. They will verify your employment termination and provide necessary details.
If opting for a direct rollover, complete Section IV with the rollover trustee's information. The trustee must confirm acceptance of rollovers and provide their details.
Review all sections for accuracy before submitting the completed form to ensure a smooth processing experience.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is Apers taxed in Arkansas?

We are required to withhold 20% for federal income tax and 5% for Arkansas state income tax. Members may also face an additional 10% tax if they receive the payment before they reach age 59 .

Can refund application be withdrawn?

Once a Refund Application has been withdrawn by the taxpayer, the taxpayer will not be able to take any further action on the refund application. On successful withdrawal of refund application, the Electronic Cash/Credit Ledger debited at the time of filing refund application will be credited back.

Are retirement benefits taxable in Arkansas?

Arkansas has a graduated state individual income tax ranging from 2% to 4.40%, ing to the Tax Foundation. Arkansas tax on retirement benefits: Social Security retirement benefits and Railroad Retirement benefits are tax-exempt. Retirees age 59.5 or older can be exempt from the first $6,000 of an IRA distribution.

What is not taxed in Arkansas?

Tax-exempt goods Some goods are exempt from sales tax under Arkansas law. Examples include prescription drugs, purchases made with food stamps, and some farming equipment.

What income is taxed in Arkansas?

Arkansas state income tax rates Taxable IncomeRateMinus Adjustment $0 to $5,499 0% N/A $5,500 to $10,899 2% $109.98 $10,900 to $15,599 3% $218.97 $15,600 to $25,699 3.4% $281.371 more row Feb 18, 2025

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In what state is your pension not taxed?

There are currently seven states in which individual income is not subject to tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.