Can a current employee purchase previous service and apply that toward retirement?
Eligible participants can purchase credit for previous full-time service with the city, old county government or other covered employer. The cost of purchasing prior service is 8 percent of the employee’s current regular salary plus service raises at the time of purchase, multiplied by the months and days of service purchased. Purchases can be made by either lump sum or through payroll deduction. Purchases of less than one year of time through payroll deduction must be bought in its entirety. Eligible service includes full-time permanent, provisional, temporary, contract and grant employment.
