If you withdraw your Tier One/Tier Two member account, you will cease to be a Tier One/Tier Two member effective as of the distribution issue date.
You can restore your Tier One/Tier Two membership and member account if you return to covered employment within five years from the date you terminated employment, you can pay the amount withdrawn plus the interest the amount would have earned to the date of repayment. You must pay the amount in a lump sum within your first year of re-employment. If you repay during the six-month waiting period, membership begins again on the first of the next month. Your redeposit will restore your former PERS account to the point before withdrawal, along with any rights and benefits that accrued up to that point.
If you do not return to covered employment within five years or do not repay within the first year of re-employment, you may still be eligible to purchase your forfeited time when you retire.
Note: You may not redeposit your account balance if you withdrew your Tier One/Tier Two account and you received 150 percent of your member account balance.