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

Public Employees' Retirement System and Teachers' Pension and Annuity Fund

(Go to Police and Firemen's Calculator)

This calculator estimates the cost of a purchase of additional service credit for members of the Public Employees' Retirement System (PERS) and the Teachers' Pension and Annuity Fund (TPAF).
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, PERS and TPAF 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made contributions to the retirement system within two years of his or her purchase request and who has not retired or withdrawn his or her contributions.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 #2, Estimating the Cost of Purchasing Service Credit (PERS and TPAF) Adobe PDF (33K) for information about purchase costs.
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PERS AND TPAF 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.)

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	Leave of Absence without pay
Uncredited Service	U.S. Government Civilian Service - Full Cost*
Out-of-State Service	U. S. Military Service Before Enrollment - Full Cost*
Local Retirement System - TPAF	U. S. Military Service After Enrollment
Local Retirement System - PERS - Full Cost*
Former Membership in a NJ State-administered retirement system
*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, or PERS Local Retirement System service, 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