Buyout

MPERS is offering eligible vested former members a one-time buyout of their accumulated retirement service credit. On this page you will find the board rule that governs the buyout program, a list of frequently asked questions and our answers, sample forms that apply to the buyout program, and a copy of the state law that created the buyout program.

Those vested former members that are eligible to participate in the buyout will receive a letter from us describing the program, an election form, a distribution form, and a list of top ten questions and answers sheet. If you did not receive such a letter, then you are not eligible for the buyout.

Other members not eligible for the buyout include:

  • Active employees
  • Retired members
  • Members who are receiving a disability benefit sponsored by MPERS
  • Any vested former member as of June 30, 2017, that later
    • becomes employed at a state agency covered by MPERS or MOSERS,
    • is subject to a division of benefit order,
    • can retire prior to January 1, 2018 (normal retirement eligibility), or
    • passes away prior to receiving the buyout payment in January 2018

If you are a vested former member and did not receive a letter and believe that you ARE eligible for the buyout program, please send us an email at mpers@mpers.org and we will research your file and respond to you as quickly as possible.

Sample – Buyout Election Form

Sample – Buyout Distribution Form

Senate Bill 62 (2017)

Buyout Board Rule

Frequently Asked Questions