Do you have abandoned funds at the Maryland State Retirement and Pension System?
4/25/2014, 5:34 a.m.
BALTIMORE The Maryland State Retirement Agency is attempting to find nearly 26,000 former public employees who didn’t work long enough to vest for a state pension benefit and return the contributions they made to the system to them. The retirement agency has established a searchable database on its website. To start the claims process, search the database at: http://sra.maryland.gov/Participants/Members/Resources/UnclaimedFunds/
If you believe you have unclaimed funds with the Maryland State Retirement and Pension System you should follow these three steps:
·You must first check the online database to find your name and associated agency name of your former employer.
·Once you have obtained this information online, call a Retirement Benefits Specialist at 410-625-5555 or 800-492-5909 for confirmation.
·After verification with a Retirement Benefits Specialist, you can claim your funds by completing and submitting an Application for Withdrawal of Accumulated Contributions (Form 5).
There is no need to utilize the services of a third party agent to acquire these funds. This service is provided free by the Maryland State Retirement Agency.
Typically, when members separate from service before earning a future vested benefit, the agency makes every effort to contact the individuals and encourage them to withdraw any accumulated contributions they may have made to the system while they were employed. If contributions are not withdrawn within four years, they are considered abandoned and no longer accrue interest. These funds however, may be claimed at any time by the former member or his/her beneficiary or estate.