A Return of Contributions (“ROC”) is a lump sum payment equal to the pension contributions you paid into the retirement plan, plus interest. Employees are eligible to withdraw their contributions from the plan when they separate from the City. When an employee withdraws their contributions, they are no longer a member of the pension plan.
Employees who not vested* or not planning to claim reciprocity through employment with a reciprocal agency are required to take a ROC. *Federated Tier 1, Tier 2a, and Tier 2b require 5 years of service in the Federated Plan to vest. Review the Retirement Benefits Fact Sheets for more information on vesting and pension eligibility.
When an employee separates from the City, Human Resources will send the Office of Retirement Services (“ORS”) a copy of your Notice of Separation (NOS). Upon receipt of your NOS, ORS will email you a ROC information packet. You will have 90 days to submit your ROC election form to ORS. You must return the election form to ORS even if you are vested or claiming reciprocity. If you are electing to withdraw your contributions, you should receive your ROC lump sum payout within 6-8 weeks after you submit your election form to ORS.
For more information, please review the Return of Contributions FAQs.