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Do current members have to make a payment to upgrade to 2.2?

April 26, 2017members payment upgrade

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Do current members have to make a payment to upgrade to 2.2?

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The upgrade is voluntary. The upgrade cost is 1 percent times the number of pre-July 1998 service years times your highest salary in the four years before making application to upgrade (not including the current school year). The maximum charge is 20 percent or 20 years times the 1 percent contribution rate. Each three full years of service after June 1998 reduces the number of years to upgrade by one year.