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Service Buybacks
Paybacks for Membership Credits
A member may receive membership credit in the Plan. If member revokes the payback election, is terminated, resigns, or is otherwise separated from the city before the payback is completed, the member shall only receive credit for the portion paid as of the date of separation.
Restoration of Prior Service for Re-employed Members
The former member may restore previous membership service by repaying the accumulated contributions withdrawn together with a uniform rate of interest, as determined by the Board.
Benefit Summary
Active Members
Credit for Continuous Service as a Nonmember
Any person who is now a member of the Plan who had prior service with the city as a probationary, full-time temporary, or permanent employee, classified or unclassified, but who at the time of that service was not a member of the plan, may purchase up to four years of that prior non-membership service.
Credit for Military Service
Any member who has served active military duty, but whose service is not interrupted by that military duty, may purchase up to a maximum of four years of such service. To be eligible for the four-year service credit, the member must:
(I) Have engaged in wartime service as declared by state or federal statute or executive order of the President;
(II) Military service under honorable conditions;
(III) Be vested in this Plan;
(IV) Make a contribution to the plan, equal to the member’s rate of earnable compensation at the date membership service first commenced and that the contribution rate then in effect, together with four percent interest, compounded annually.
Credit for Maternity/Medical Leave
Any member who takes an unpaid leave of absence for maternity/medical purposes may apply to the Board for membership credit up to a maximum of 180 days, or 240 days, if the City denies light duty employment. The payback is available for 30 days after notification to the member and must be fully completed within one year. Contributions made by a member for maternity/medical membership credit will be at the member’s current rate of compensation and current rate of contribution.
Restoration of Service for Prior Continuous Service
Any member with prior service with the city, whose membership in the Plan was delayed due to administrative error.
Purchase of Additional Service upon retirement
A member in service who has continuous service may, at time of retirement, purchase up to a maximum of three whole creditable years based upon the present value, as determined by the actuary for the plan.
Non-Service Buyback
An active member who was separated from service for less than three years and left contributions in the plan is allowed to buyback up to three years of service. Approved on January 31, 2014.