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You can typically expect to receive your refund within 30 to 45 days from the date we receive all your necessary forms. However, timeframes can vary if there are holds or other restrictions on your account that require review and action.
You may submit your refund request immediately upon termination; however, by law, your refund cannot be paid sooner than 90 days after your termination, and may not be paid later than six months after the date of your request.
A SERS pension provides lifetime retirement security in the form of regular and consistent benefit payments, which makes it easier for retirees stay on a budget. Retirement with SERS is a matter of eligibility. You must meet one of the age and service credit combinations to be eligible for a monthly, lifetime pension.
You are eligible to retire with a full benefit at 65 if you have at least five years of service credit. Retirement before 65 is considered an early retirement. If you have at least 20 years of service credit and are 55 or older, you can choose to retire early, but your benefit may be reduced.
You can typically expect to receive your refund within 30 to 45 days from the date we receive all your necessary forms. However, timeframes can vary if there are holds or other restrictions on your account that require review and action.
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People also ask

Pennsylvania does not tax its residents' retirement income. It is one of only two states, and the only state on the East Coast, that considers pension income completely tax exempt. The Keystone State also has the lowest flat tax rate in the country at just 3.07 percent.
Once you are eligible to take a distribution, you may choose from a variety of payment options, including a lump-sum distribution or periodic withdrawals.
Your traditional pension plan is designed to provide you with a steady stream of income once you retire. That's why your pension benefits are normally paid in the form of lifetime monthly payments. Increasingly, employers are making available to their employees a one-time payment for all or a portion of their pension.
If you withdraw your retirement contributions, you forfeit your retirement service credit and rights to all benefits associated with the service for that time period, including medical coverage through the State Health Plan, if applicable.
SERS is a defined benefit (DB) public employee retirement system and a qualified plan under Section 401(a) of the Internal Revenue Code. As a DB plan, SERS provides pensions, disability benefits, and survivor benefits in a specified amount based upon three factors: age, final average salary, and years of service.

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