Loans

Loans

If you are a BERS member, have at least one year of membership service and not in default of a previous loan, you may be eligible to take a loan. The Loan department is responsible for calculating and issuing loans, loan estimates, loan liquidations, loan inquiries, and questions concerning loans from the Qualified Pension Plan, Tax Deferred Annuity Program, and the Tier Enhancement Programs. Applications are available on this website and can also be obtained by phone, mail or by visiting our office. When requesting the application by mail or by phone, please indicate your name, address, membership number, tier, telephone number and the type of loan.

Loan FAQ’s

  1. Loan applications must be signed and dated in front of a Notary Public.
  2. A Notary Public’s stamp or seal must be clear. A faded or blurry stamp or seal will result in your application being rejected.
  3. If you have met all eligibility requirements, the processing time can take up to approximately 15 business days.
  4. In the Loan amount field please select either Maximum Loan Amount or Net Loan Amount.  Both cannot be selected.  If you select Net Loan Amount, you must enter a clear number on the application.  If you leave this field blank your application will be rejected.
  5. In the Repayment Schedule field please select either Repayment Amount or Duration.  If you select Repayment Amount you must enter a dollar amount.  If you select Duration, you must enter an amount of time in months.  If you leave this field blank your application will be rejected.
Based on your retirement, please choose from the below:

Tier 1/2 Loan Program
Tier 4/6 Loan Program
TDA Loan Program
Early Retirement Program