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APERS mission is to provide income to retired members, to survivors and to disabled members of the system. To this end, the system prudently invests all contributions received, monitors reporting by participating employers, maintains records and disburses monthly benefit checks to all those entitled.
Since July 1, 2001, APERS members who work beyond the date they are eligible for an unreduced monthly benefit are eligible to take an advance payment of up to 60 months of their monthly annuity. This is called a Partial Annuity Withdrawal (PAW).
Deposits and withdrawals can be requested directly through your Empower Personal Dashboard. Transferring on your Empower Personal Dashboard: 1. Select the Banking tab at the top of your Dashboard, followed by Transfer, then select the Transfer Funds option.
Can you withdraw money from a 401(k) early? Yes, you can withdraw money from your 401(k) before age 59. However, early withdrawals often come with hefty penalties and tax consequences. If you find yourself needing to tap into your retirement funds early, here are rules to be aware of and options to consider.
Generally, the amounts an individual withdraws from an IRA or retirement plan before docHubing age 59 are called early or premature distributions. Individuals must pay an additional 10% early withdrawal tax unless an exception applies.

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Normal Retirement: Age 65 or more with at least 5 years of service (except for certain General Assembly members who must have at least ten years of service); Any age with 28 years of service; or. Age 60 or more with 20 years of service (contributory members prior to 07/01/2005)
As of July 1, 2022 the contribution rate is 5.25%. It will increase by one-quarter of a percent each succeeding July 1 until it docHubes a maximum of 7% on July 1, 2029 (per Act 365 of 2021).

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