The Termination Process

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CCCERA will receive notification of your termination from your employer’s human resources department and will send you a packet explaining the options concerning your retirement account and possible tax liability. A Distribution Election Form (Form 207) and instructions for filling out the form are included. Return the completed form to CCCERA.

Deciding whether to take a refund or defer your retirement is a very important decision. We encourage you to consult a tax professional before deferring your retirement or requesting a refund. Counselors are not able to advise you on tax issues but can answer questions about the termination process and your options.

You will find additional information about tax considerations in IRS Publication 575, Pension and Annuity Income and IRS Publication 590, Individual Retirement Arrangements.

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