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You and your bank must complete the form. This form must be notarized. The MPERA must receive it prior to the 15th of the month to ensure your benefit is direct deposited at the end of that month. Ctianging banlts? If you wish to change your direct deposit to a new bank, you will need to complete a new Direct Deposit Agreement form. The MPERA must receive direct deposit changes by the 15th of the month. A suggestion: Do not close your old account until you are sure your direct deposit has been ...changed. If you close your old account and we don't receive notification in time, deposit of your benefit will be delayed. 2 MPERA Retiree News - August 2000 Social Security Earnings Limit Changes for Retirees Over Age 65 In April 2000, the law that determines what happens when you work and get social security benefits at the same time was changed. While you are working, your benefit amount will now be reduced only until you reach your full retirement age, not up to age 70. The formula below will be used to determine how much your benefit must be reduced: (This information is from the Social Security Web site at www.ssa.gov.
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