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[QUOTE="Orangello, post: 3241956, member: 597"]
From CALPERS:

If you leave your contributions, you may apply for a retirement benefit as soon as you meet the minimum retirement eligibility requirements. You may leave your contributions on deposit until the year you reach age [B]70 ½ [/B]— when you [B]must[/B] receive a [B]refund or a retirement benefit [/B]under federal required minimum distribution regulations, unless you're working with a reciprocal agency. Every October, CalPERS sends letters and election forms to all members approaching age 70 ½ notifying them that they must either refund or retire when they attain age 70 ½ or, if they are age 70 ½ this year and not currently working for a reciprocal agency, to contact us to request a Required Minimum Distribution packet. A refund will include your contributions plus interest. [B]Employer contributions are not refundable[/B]. Taking a refund ends your CalPERS membership. This means [B]you lose the right to receive a service or disability retirement benefit[/B]. Since this can impact your future retirement income, carefully consider your decision to refund.
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