How and when is a payment made for additional Service Credit?
The purchase of additional service credit may be made in one lump sum or through monthly installments. Lump sum payments must be received by CalSTRS within 35 days of the date of our billing to you, or additional interest may be added to the amount due. Monthly installment payments may be made by direct cash payments to CalSTRS, or through payroll deductions. If you decide to pay by monthly cash installments, interest must be charged on the monthly unpaid balance. You will receive a monthly statement about the 5th of each month reporting the amount of the monthly payment received and your remaining unpaid balance. Payments are due by the 20th of the month. Amounts larger than the regular monthly installment may be submitted, but the minimum payment accepted is $25.00. Payments are considered delinquent after 120 days past due. If your payment becomes delinquent, your option to purchase additional service credit may be cancelled and those payments shall be refunded. Upon cancellation of
