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Service Credit Purchase

 

TCERA members are allowed, under certain circumstances, to purchase retirement service credit. In order to be provided the cost associated with a purchase, members must complete a Service Purchase Estimate Form and submit it to the Retirement Office for calculation. Members pay interest charges on all types of purchases. 

If a member formerly worked for a TCERA employer in a retirement eligible position and took a refund of contributions after termination of employment, the member may restore that service credit after returning to active membership with TCERA through a redeposit of the full amount of the refund, plus interest.

Personal Medical Leaves of Absence occurring on or after January 1, 1978 are eligible for purchase if the member returns to paid status following the leave. The purchase period is limited to twelve consecutive months per occurrence.

Employment periods in an extra help, provisional, or temporary classification prior to the employee's original eligibility for membership with TCERA can be purchased to add retirement service credit to the member’s record. The service must have been with a TCERA participating employer and it must have occurred prior to any membership with TCERA.

If following a divorce, the non-member spouse elects a withdrawal of the portion of the member’s account awarded to the non-member spouse, the TCERA member may restore the service credit after redepositing the withdrawn funds plus any applicable interest.

Purchase of military leaves of absence will begin automatically upon return to active employment, as required by law. A member may opt out of a military leave of absence purchase.

Please see the TCERA Plan Summary for additional details regarding purchases of service. If you are interested in finding out more about a service purchase, please submit a Service Purchase Request Form or contact the Retirement Office to speak with a Retirement Specialist.