A refund
After complete termination from all Mississippi PERS-covered employers you may take a full refund of your contributions and interest (no loans, partial refunds or hardship withdrawals). Mississippi PERS pays after final wages post, but no later than 90 days from the later of termination and receipt of Form 5. A refund ends your membership and forfeits service credit and vested rights. Employer contributions are not refunded. Member Handbook (2024), pp. 13-14, Refunding Your Contributions; Mississippi PERS Board Regulation 44, § 101; Mississippi PERS FAQs (2022), Q13-15
Example: leave May 31, 2027, Form 5 received June 15, 2027: paid by September 13, 2027 at the latest.
20% federal withholding on the taxable part if paid to you; possible 10% IRS penalty if under 55. Rollovers allowed (Form 5C). Member Handbook (2024), p. 14, Taxes on Refunds
Or wait for a pension
Vesting needs years of membership service as a contributing member: 4 years if hired on or before June 30, 2007; 8 years if hired on or after July 1, 2007 (including Tier 5). Member Handbook (2024), p. 15, Vesting Requirements; Hybrid Plan Handbook (2026), p. 12 A vested member who leaves before eligibility and does not take a refund can start the benefit at 60 (Tiers 1-4) or 62 (Tier 5) on the amount earned when they left. Mississippi PERS Board Regulation 28 (amended March 1, 2026), §§ 101-104; Miss. Code Ann. § 25-11-111(b) (H.B. 4073 (2026), § 18, pp. 65-66)
Your contributions
Members pay 9% of earned compensation (tax-deferred). Employers pay 18.90% from July 1, 2026. Tier 5 members' 9% is split 4% to the defined benefit and 5% to their own defined contribution account. Employer contributions aren't credited to member accounts or refunded. Mississippi PERS Board Regulation 60 (amended July 1, 2026), § 101; Member Handbook (2024), p. 13; Hybrid Plan Handbook (2026), p. 11
Member accounts earn interest posted monthly: 1% a year since July 1, 2016 (the rate follows the Wall Street Journal money market rate, minimum 1%, maximum 5%). Mississippi PERS Board Regulation 62, §§ 103-104; Summary of Major Plan Provisions (2024), p. 1
Coming back
You may repay a refund with interest if you return (not in Tier 5). See Buying service credit.
Member Handbook p. 14 says a member who repays a refund must be a contributing member for at least eight years to restore the service; pp. 17 and 19 say the service is reinstated 'when you become vested' (4 years for Tiers 1-2). The engine doesn't model repayment.
Member Handbook (2024), pp. 14, 17, 19
- If you leave all covered work you can take a refund of your own contributions and interest; employer contributions aren't refunded. There are no loans, partial refunds or hardship withdrawals. A refund ends your membership and your service credit.Member Handbook (2024), pp. 13-14; Mississippi PERS Board Regulation 44
- Mississippi PERS pays the refund after your last wages are reported, no later than 90 days after the later of your termination and its receipt of Form 5. 20% federal tax is withheld unless you roll it over, and a 10% IRS penalty may apply under 55.Member Handbook (2024), pp. 13-14
- Members in Tier 5 also have a defined contribution account that is theirs immediately and can be withdrawn 30 days after leaving.Hybrid Plan Handbook (2026), pp. 10-13; Hybrid Plan Fact Sheet (2026), p. 2
- Members contribute 9% of pay. In Tier 5, 4% goes to the pension and 5% to the member's own defined contribution account. Employers pay 18.90% from July 1, 2026.Mississippi PERS Board Regulation 60 (amended July 1, 2026), § 101; Hybrid Plan Handbook (2026), p. 11
Questions
Can I get my Mississippi PERS contributions back if I quit teaching?
Yes, after you leave every covered employer: your own contributions and interest, not the employer's. A refund ends your membership and your service credit. Mississippi PERS pays no later than 90 days after the later of your last day and its receipt of Form 5.
Should I take a refund or leave my money in?
If you're vested (4 years in Tiers 1-2, 8 in Tiers 3-5), leaving it in keeps your right to a lifetime benefit from age 60 (62 in Tier 5). A refund gives that up.
Source: Mississippi PERS Member Handbook, Revised November 8, 2024, pp. 13-14, 13, 14, 15, 17, 19. Also: Mississippi PERS FAQs (2022); Hybrid Plan Handbook (2026); Summary of Major Plan Provisions (2024); Hybrid Plan Fact Sheet (2026); Mississippi PERS Board Regulations 28, 44, 60, 62; Miss. Code Ann. § 25-11-111. Last reviewed .