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Refund of Account Balance
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If you permanently terminate employment covered by KTRS and wish to have your money returned to you, the system will Refund your account. Your Account Balance consists of member contributions plus earned interest, less medical insurance fund deductions.

If you are eligible for service retirement, you
cannot refund your account unless it would prohibit you from qualifying for Social Security benefits or you choose to withdraw all or part of the service to obtain credit in another retirement plan. If you are contemplating a refund of your account balance, you should contact KTRS for more details.

Your refund may be subject to an IRS early withdrawal penalty if you are under age 59 , unless you transfer or roll over your refund to another eligible plan. If the refund is paid directly to you, there are federal deadlines by which you must roll your refund into another eligible plan to avoid the IRS early withdrawal penalty.
479 Versailles Road, Frankfort, Kentucky 40601 / Phone: 1-800-618-1687