REFUND: If the PSPRS receives a fully completed application (i.e., member’s signature is provided, employer certification termination section is signed by the employer, lump sum distribution form is signed by the member and the rollover institution, if applicable, and the final employee contribution has been received by the PSPRS), the refund payment may be made to you in approximately 2-3 weeks of receipt.
RETIREMENT: PSPRS issues benefits payments on the last business day of each month, which represents payment for that same month. For example, if the benefit is dated December 31, it represents the December 1 payment. Even though the payments are dated on the last business day of the month, please allow the financial institutions and post offices time to route the payment(s) to you each month. See Payment Schedule for exact dates that the benefit payments will be issued.