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not retired or withdrawn his or her contributions.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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