Division of Pensions and Benefits

Governor Chris Christie • Lt.Governor Kim Guadagno

The Official Web Site For The State of New Jersey - Department of Treasury

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PURCHASE OF SERVICE CREDIT
CALCULATOR FOR ESTIMATING THE COST OF A PURCHASE OF SERVICE CREDIT

For Members of the Police and Firemen's Retirement System

(Go to Public Employees' Retirement System/Teachers' Pension and Annuity Fund Calculator)

This calculator estimates the cost of a purchase of additional service credit for members of the Police and Firemen's Retirement System (PFRS).
The calculation is based solely on the information you provide and does not access any of the salary or service information maintained by the Division of Pensions and Benefits. To hear an estimate of the cost of purchasing service credit based upon current posted salary information, PFRS members should call the Automated Information System at (609) 292-7524.
To obtain an official quotation of the cost for purchasing additional service credit you must apply online using the Purchase Application in the Member Benefits Online System (MBOS) — Paper applications are no longer accepted. Registered users, Log on to MBOS! — New users, Register for MBOS!
Only active members of the retirement systems are permitted to purchase service credit. An active member is one who has made contributions to the retirement system within two years of his or her purchase request and who has not retired or withdrawn his or her contributions.
Before you submit your application to purchase service credit see Fact Sheet #1, Purchasing Service Credit Adobe PDF (37K) for information on the types of service that are eligible for purchase and Fact Sheet #3, Estimating the Cost of Purchasing Service Credit (PFRS) Adobe PDF (30K) for additional information about purchase costs.
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PFRS PURCHASE COST ESTIMATE CALCULATOR
Enter all requested information and click the "Calculate" button

NAME: (First) (Last)

SELECT YOUR NEAREST AGE:

(The cost of purchasing service credit is based on your nearest age at the time the Division of Pensions and Benefits receives your purchase application. For example, if you are 35 years and 5 months of age at the time of your request, your nearest age is 35 years of age. If you are 35 years and 6 months of age at the time of your request, your nearest age is 36 years of age.)

ENTER THE HIGHER OF YOUR CURRENT SALARY
OR HIGHEST FISCAL YEAR SALARY: $ .00 (no commas)

(The cost of purchasing service credit is based on the higher of your current annual base salary or highest fiscal year base salary (July 1 to June 30) as a member of the retirement system — EXCEPT in cases of the purchase of Layoff time. If estimating the cost of a Layoff purchase, enter the salary for the 12 months prior to the layoff)

Note: The cost of a purchase for most members normally increases with an increase in your age and/or salary.

ENTER THE NUMBER OF MONTHS THAT YOU WISH TO PURCHASE: Months (numeric)

(You do not have to purchase all of the eligible service. Partial purchases are permitted.)

TYPE OF PURCHASE: (Select One Type)
For an explanation of purchase types and limitations see Fact Sheet #1 Adobe PDF (37K)

Temporary Service	Former Membership in a NJ State-administered retirement system
Uncredited Service	Leave of Absence without pay
Out-of-State Service	U.S. Government Civilian Service - Full Cost*
Local Retirement System - Full Cost*	U. S. Military Service Before Enrollment - Full Cost*
Layoff - Full Cost*	U. S. Military Service After Enrollment
Employment with Other Agency - Full Cost*
*For most types of purchase, the cost is shared between the employee and the employers who participate in the pension plan. However, if you purchase U. S. Military Service before enrollment, U.S. Government Civilian Service, Local Retirement System service, PFRS Layoff, or PFRS Employment with Other Agency, you are responsible for the full cost. Therefore, the cost to you for purchasing these types of service will be twice the cost for other types of purchase.

Last update: March 2, 2012

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PURCHASE OF SERVICE CREDIT CALCULATOR FOR ESTIMATING THE COST OF A PURCHASE OF SERVICE CREDIT

PURCHASE OF SERVICE CREDIT
CALCULATOR FOR ESTIMATING THE COST OF A PURCHASE OF SERVICE CREDIT