The two choices
- Leave your money with PERA. With 5 or more years of service credit you're vested: you can take a monthly benefit once you meet the age and service rules, and you keep moving through your HAS table as you age. Your PERA Benefits p. 13, Leaving Your DB Plan Account(s) with PERA (vested with at least five years of service credit)
- Take a refund or roll it over. You get your contributions and interest, plus a match. Once you refund or roll over, you no longer have the right to any PERA benefits. Your PERA Benefits p. 14, Refunding or Rolling Over Your DB Plan Account Under the PERA Benefit Structure
What a refund pays (our examples)
| Situation | Match | Account | Match | You get |
|---|---|---|---|---|
| Eligible to retire, $60,000 account | 100% | $60,000 | $60,000 | $120,000 |
| Vested (5+ years), not eligible yet, $60,000 account | 50% | $60,000 | $30,000 | $90,000 |
| Under 5 years, all $20,000 credited from 2011 on | 0% | $20,000 | $0 | $20,000 |
| Under 5 years, $15,000 credited through 2010 and $5,000 after | 50% on the older money | $20,000 | $7,500 | $27,500 |
Less than five years of earned service: 50% match on contributions and interest received on or before Dec. 31, 2010; no match on amounts on or after Jan. 1, 2011. Amounts paid to purchase service credit are not matched (except casual service and affiliate service agreements). Your PERA Benefits p. 14, Refunding or Rolling Over Your DB Plan Account Under the PERA Benefit Structure
Your contributions are 11% of pay. Your PERA Benefits p. 2, Current Membership Contribution Rates (State, School, and DPS Divisions 11.0%); Automatic Adjustment fact sheet p. 1 (11.00% as of July 1, 2026) Taxes apply to a refund you don't roll over: see taxes.
From the sources
- You are vested once you have five years of service credit. If you leave PERA work and leave your money with PERA, you can take a monthly benefit once you meet the age and service rules.Your PERA Benefits p. 13, Leaving Your DB Plan Account(s) with PERA
- If you take a refund while you're eligible to retire, PERA adds a 100% match on your contributions and interest. If you have five years of earned service but can't retire yet, the match is 50%.Your PERA Benefits p. 14
- With less than five years of earned service, you get a 50% match only on money credited through 2010, and no match on money from 2011 on.Your PERA Benefits p. 14
- Once you take a refund or rollover, you give up all PERA benefits. Money you paid to buy service credit isn't matched.Your PERA Benefits p. 14
Questions
Can I get my PERA contributions back if I leave my school job?
Yes. You can take a refund of your contributions and interest, or roll it over. PERA adds a match that depends on your service. Once you do, you give up all PERA benefits.
Should I leave my money with PERA instead?
If you're vested (5 years of service credit), leaving your money keeps your right to a monthly benefit once you meet the age and service rules. A refund gives that up.
What match do I get?
100% if you're eligible to retire, 50% with five years of earned service but not yet eligible, and under five years 50% only on money credited through 2010.
Source: Your PERA Benefits: A Summary of the Colorado PERA Defined Benefit Plan, Revised April 2026, pp. 2, 13, 14. Also: Automatic Adjustment fact sheet p. 1. Last reviewed .