Employee FAQs - Plan Benefits

Important note: Information contained in these frequently-asked questions and answers is general in nature. In case of any conflict, the actual contract language between the employing municipality and PMRS along with PMRS law will prevail. Also, existing regulations, policies and procedures will apply in all cases.

 

How can I tell if my municipality has a PMRS-administered pension plan?

You can either ask your employer or click here.

When and how can I enroll in the pension plan?

All full-time employees (35 or more hours per week) must be enrolled when hired or at the end of their probationary period, if any. (A probationary period can be no more than one year.)  The enrolling member and the employer must complete an Application for Membership. The employee also completes a Nomination of Beneficiaries form.  The completed forms and a $20 administration fee (paid by the employer) are then mailed to PMRS.

What are my retirement benefits?

Benefits are based on the agreement between your municipality and PMRS. When enrolling, each plan member is provided with a benefit summary brochure that details the benefits that are provided by your plan.  To obtain a benefit summary brochure for your plan, please contact us by providing your name, mailing address, and the name of the employing municipality and county.

Can plan benefits be improved?

See Employer FAQs.

What information does PMRS provide me?

At the end of each calendar year, each PMRS member is mailed a member statement that details the activity of the member's account for the previous year.  In addition, each employee receives a benefit summary brochure when they enroll in the plan or when their pension plan benefits have been improved. This brochure explains the retirement benefits provided by your employer.

Can I borrow against my PMRS member's account?

No.

Are my contributions to the plan tax deferred?

In most PMRS plans, the member contributions are not tax deferred. However, if your employer has adopted a tax deferral provision under Section 414h of the federal Internal Revenue Code, then mandatory member contributions would be tax deferred for federal tax purposes until received as a benefit or paid out as a lump sum.