Partial Lump Sum Payment (PLS) at Retirement — Chapter 735 (Laws of 2006)
Resources
- Frequently Asked Questions Regarding the Partial Lump Sum Payment (PLS) at Retirement
- Partial Lump Sum Payment (PLS) at Retirement (VO1750)
- Pension Projection Calculator
- PLS Option Payment Selections (fill-in forms)
This new law allows certain Police and Fire Retirement System members to receive a partial lump sum distribution of their retirement benefit in exchange for a reduced continuing lifetime monthly benefit.
If you are a member of the Police and Fire Retirement System and are covered by a plan that allows for retirement after 20 or 25 years of creditable service regardless of age, you may be eligible for a PLS.
To estimate the amount you would be eligible to take in a lump sum, and the effect this would have on your continuing lifetime monthly benefit, you can use our PLS calculator by clicking on the link under Resources.
Share This
Like what you see? Share it with a friend.