Leaving State Employment

	How would I qualify for a cash-out?
	In order to qualify for the cash-out you must meet all of the following criteria: Must have terminated employment on or after October 1, 1984 and prior to September 1, 2002. Must be vested. Must have less than ten years of credited service. Cannot be within five years of eligibility for receiving a normal annuity or benefit. Present value cannot exceed $10,000 on the date of application if you left state employment on or after August 28, 1997.
	How do I apply for a cash-out?
	Approximately 45 days after we receive a termination form from your employer, we will send you a letter, application, and pertinent information about the cash-out option. By law, members terminating employment on or after August 28, 1997, cannot apply for the cash-out option until six months after their separation from state service. Consult MOSERS' brochure, Deferred Retirement Lump Sum Option, for more information and an application.

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