Frequently Asked Questions

State law specifies how the cost of each type of creditable service that may be purchased is calculated. For example, the cost for purchasing previously withdrawn service in the Retirement System is often less expensive than the cost for purchasing other types of eligible retirement service credit. Individual forms for each type of eligible retirement service purchase are located on our website. Each purchase form includes a description of the cost calculation method used for that individual type of purchase. For addition information, please see the Service Credit Purchasing section and your specific retirement handbook on our website.

Are rollovers from other retirement plans accepted to purchase retirement service credit?

Effective January 1, 2003, pre-tax money from an eligible retirement plan or an eligible IRA may be accepted via rollover or in-service plan-to-plan transfer to purchase creditable service. For further information and instructions, please see Form 398, "Using a Distribution of Tax-Sheltered Savings to Purchase Retirement Credit."