PERA stands for the Public Employees Retirement Association, and it includes a wide number of different employees across the state of Minnesota. This includes people who work in the school district, or for the government at any level. Government employment through any type of city, municipality, county, township, or state job qualifies the individual for PERA. Corrections officers, police officers, and others are also part of the MSRS or Minnesota State Retirement System.
In addition to standard PERA retirement, the state of Minnesota has introduced various options, including a phased-retirement and changed the options for early retirement, which may leave some people uncertain about their ability to apply for benefits and be successful in their application.
Unfortunately, other problems may also make it difficult for a qualified member to apply for PERA retirement. Talking with an attorney familiar with the program can be instrumental in determining the source of the issue and making the necessary corrections.
Problems With Addresses
It is necessary to show the required qualifications to apply for and be successful in obtaining the request for PERA retirement benefits. One of the most common issues is employees not keeping PERA informed of address changes and name changes. This can make it challenging to track time worked throughout various qualifying agencies and entities in the state. Although employers are encouraged to report these issues, it is the member’s duty to ensure the changes have been submitted to PERA.
Issues With Service Credits
To calculate the pension amount, the state uses a formula for PERA pension. This includes the age of the retiree at the time of application, the 5 highest consecutive years of salary and the service credit. The service credit is the number of years worked.
Leave of absences and other types of issues can impact the service credit. It is also possible to purchase service credit for up to one year when authorized, but unpaid time off was granted.
