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Active members may establish service credit for various types of previous employment and leaves of absence, and up to five years of non-qualified time. A link to the descriptions of these types of service credit is at the end of this page. Generally, a member on leave without pay from a covered employer is not eligible to purchase service credit of any type.
Purchasing Service Credit You may purchase service credit by a lump-sum payment, an installment service purchase (pre-tax or after-tax, plus interest), or a tax-deferred rollover from an Individual Retirement Account (IRA), a 401(k) plan, a 401(a) eligible plan, a 403(b) plan, or a 457 plan. You may purchase each type of service credit once within a fiscal year. If you are purchasing service to meet retirement eligibility, please contact the Retirement Systems for more information. Payment for service purchases required for eligibility must be remitted in full prior to your retirement date or termination. If you previously purchased periods of part time credit or previously earned period of part time credit, you may be eligible to purchase additional service credit at an additional cost. Please contact the Retirement Systems for more information. Some types of purchased service may not be used in determining insurance eligibility. If you experienced a leave of absence from your employer, especially during your last five years of employment, your insurance eligibility may be affected. Contact your employer or health insurance provider for insurance coverage questions. If you are covered by state health insurance, contact the Employee Insurance Program for eligibility information. |
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