Withdrawal of Contributions


If you elect to withdraw your retirement contributions, your VCERA membership immediately ends, as does your right to apply for a service, disability, deferred or reciprocal retirement. Therefore, please carefully consider all your options before deciding to withdraw your funds.

You can either refund or roll over your account balance into a qualified plan. Refundable contributions include the amounts you paid into VCERA, any employer-paid portion of employee contributions (if applicable), and the semiannual interest credited on those amounts.


VCERA is required to withhold 20% of the taxable portion of any lump-sum distribution greater than $200 for federal tax purposes. The withholding will not apply if you roll over the taxable portion of the distribution to an IRA or qualified employer retirement plan willing to accept a rollover. For more information, download VCERA’s Special Tax Notice.

Disposition Form

To process your withdrawal request, you (and your spouse, if applicable) must sign a Disposition of Retirement Contributions Form and return it to VCERA before a refund of contributions will be issued. The disposition form is available in the VCERA office, but it will also be mailed to you within a few weeks of terminating employment.

If you do not make a written election on the form, you will be placed automatically in a deferred membership status and your contributions will remain on deposit with VCERA. However, you may withdraw your funds at any time by completing a disposition form.

The foregoing is not intended to be tax advice. Please consult a qualified tax professional for more information prior to requesting a withdrawal of your VCERA contributions.