How do I Repay a Refund of Contributions?

You may reinstate the previous St. Paul retirement service credit by repaying the amount refunded plus 8.5% interest compounded annually from the date the refund was paid.

1. You must be re-employed in SPPS, SPC or be contributing to another eligible Minnesota public  pension fund.
2. You must have accumulated at least two years of retirement service credit since the last refund was taken.
3. You may make partial repayment [minimum of one-third of the total service credit you lost by taking the refund/s], if over 1.5 years.
4. Retirement service credit, and costs, for any partial restoration will be distributed pro rata to all periods for which refunds were taken.
5. You may use previous tax sheltered dollars to make this payment [i.e., 403(b), (457) deferred compensation, 401(k)].
6. You have six months from your termination date to repay a refund of contributions.

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