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Form PLSO, Partial Lump Sum Option Distribution ... - PERS - MS.gov 2025

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The document is a Partial Lump Sum Option Distribution Election form for members or beneficiaries of the Public Employees' Retirement System of Mississippi (PERS). It outlines the process for selecting a distribution method for retirement benefits, including options for direct rollovers and tax implications. The form requires personal information, retirement plan selection, payment preferences, and includes a special tax notice regarding rollover options and associated tax rules.

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Click ‘Get Form’ to open it in the editor.
Begin by filling out the Applicant Information section. Enter your first name, middle initial, last name, social security number, email address, last day of employment, and phone number. Ensure all details are accurate.
Indicate whether you are a member or a beneficiary of a deceased member by selecting the appropriate checkbox.
Select your retirement plan from the options provided. This is crucial for processing your application correctly.
In the Partial Lump Sum Option Distribution Payment Selection section, choose how you want your distribution paid. Carefully read each option and select one that fits your needs.
Complete the Applicant Authorization section by signing and dating the form. If someone else is signing on your behalf, attach necessary legal documents.
If applicable, have the Trustee/Custodian complete their section if you selected options B, C, D, or E for rollover transfers.

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

What is the lump sum for partial retirement?

On partial retirement you can take a cash lump sum based on the amount of partial retirement pension that you take. In classic, you will get a standard lump sum which is usually 3 times your pension, and you can take an extra lump sum of up to an amount usually equal to your initial pension x 33/14.

Is it good to take a partial lump sum at retirement?

The general rule of thumb is to take the lump sum, especially if you are not 100% reliant on that guaranteed monthly income to live.

What is the 13th check for PERS in Mississippi?

But even those benefit changes didnt take away cost-of-living adjustments (COLA) that aim to help pension benefits keep up with inflation (this inflation adjustment is commonly referred to as the 13th check in Mississippi).

What is a partial lump sum option?

You may choose to receive a one-time payment equal to one up to 36 months of your standard payment at retirement. If you choose a PLSO, ERS pays this in addition to your monthly retirement payment.

Can I take a partial lump sum from my pension?

A Partial Lump Sum (PLS) distribution is a single payment equal to a percentage of the value of your pension benefit at retirement. The payment amount depends on your eligibility and the percentage you choose. If you choose to receive a PLS payment, your lifetime monthly benefit will be permanently reduced.

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What is the partial lump sum option?

If you elect the Partial Lump Sum option, the amount of the monthly payments will be reduced based on actuarial factors in effect at the time your pension first becomes payable. If you are married, your spouse has to consent to your decision to elect the Partial Lump Sum option.

Form PLSO, Partial Lump Sum Option Distribution ... - PERS - MS.gov 2025

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