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FPPA has introduced a new feature on the Member Account Portal (MAP), allowing inactive members to apply online for a refund of their available contributions. This function was created to streamline the refund process for both members and FPPA staff.
While completing the application, members may elect a simple refund, a rollover to a deferred compensation account such as a 457, or a split between the two. If choosing a refund, members may also select whether to receive the funds as a paper check or direct deposit.
Please note, certain taxes may be applicable to contribution refunds. Domestic Relation Orders (DROs) might also impact refunded contributions. In addition, any Separate Retirement Account (SRA) funds a member has accrued would be forfeited.
In order to begin the application process, members must be officially inactive from their department for at least 30 days. The entire process requires a member to answer 5-10 questions and typically takes about ten minutes to complete.
This refund feature is currently available on MAP. Once logged in or registered on MAP click ‘Refund Application’ under the ‘Member Accounts’ tab.
You will need the following information to complete the refund application:
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