|Account Balance: Your account balance is the total amount of money you have contributed to the Retirement System.|
|All Remaining: Checking this box means that all remaining funds, including any additional funds contributed by your employer and additional calculated interest, will be distributed to the account selected. Only one account can be selected for all remaining funds. If ‘All Remaining’ is not checked, all remaining funds will be paid as a partial lump sum payment directly to you and subject to tax.|
Date of Birth: If your date of birth is different from what we have on file, you will be required to provide a copy of government-issued proof of your date of birth. Acceptable forms of identification are:
|Effective Date of Termination: This is the last day you worked at your employer. Applying for a refund online requires this to be a previous date. You cannot pre-apply for a refund online with a future date.|
|Home Phone Number: In the Refunds Online process, your home number is the primary number you use for communication. US phone numbers only. We do not accept foreign numbers. If you do not have a home phone, your mobile number can be your primary ‘home’ contact number.|
Legal Name: If you change your legal name from what we have on file for you, you will be required to provide a copy of government-issued proof of legal name. Acceptable forms of identification are:
|Mailing Address: The address on the application should be your mailing address. This is where payments to you and any rollover institution will be sent. We will also use this address when sending year-end tax documents.
If you have moved and need to update your mailing address, you will provide this information during the application process. Verification documents will be required.
|Non-Taxable Amount: This includes any previously taxed contributions and will not be taxed if they are paid to you.|
|Rollover Amount: This is the dollar amount you have elected to rollover to a qualifying institution/account.|
|Rollover Institution: Select the Rollover Institution Name from the prepopulated list. If you do not see your banking institution listed, select Other and you will be able to provide the Institution Name in the text box.|
|60-Day Waiting Period: The 60-day period is required by state law and generally provides the Retirement System with sufficient time to receive and process your individual contribution (payroll) information provided to us by your former employer. This period of time ensures that you are paid all of your contributions. It also gives you time to consider your decision. The “Return of Accumulated Contributions” statute for LGERS is N.C. Gen. Statute §128-27(f) and for TSERS is N.C. Gen. Statute §135-62.|
|Social Security Number (SSN): A copy of your Social Security card must be provided during the refund application process if you need to make any changes to the SSN we have on file for you.|
|Taxable Amount: This is the total account balance that is subject to a potential tax liability should you receive a refund.|
|Total Balance: This is the total of your “Taxable” and “Non-Taxable” amounts. It does not include applicable interest.|