Enables phosphoprotein phosphatase activity. Involved in N-terminal protein myristoylation. Acts upstream of or within several processes, including negative regulation of BMP signaling pathway; positive regulation of protein export from nucleus; and protein dephosphorylation. Located in cytosol; membrane; and nucleus. Is expressed in several structures, including Peyer's patch; brain; ganglia; male reproductive gland or organ; and white fat. Orthologous to human PPM1A (protein phosphatase, Mg2+/Mn2+ dependent 1A). [provided by Alliance of Genome Resources, Apr 2022]