Terms
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Retirement Service Credit
To use this benefit estimator, you will need to know or approximate the length of your Vesting and Credited Service.
Vesting Service:
- Vesting Service is used to satisfy the various TIER II/IIA eligibility requirements
- Vesting Service Includes:
- All periods of paid state employment, not succeeded by a permanent break
- Periods of creditable workers’ compensation
- Properly documented voluntary leave taken after 6/9/94
- Periods of severance from state service of less than 12 months
- Certain periods of additional service, which may include:
- prior military service, or
- qualifying and properly documented leaves of absence without pay for military service, educational leave, and family or personal medical leave.
- Vesting Service is not adjusted for part-time service.
Credited Service:
- Credited Service is used to calculate the amount of your Tier II/IIA benefit
- Credited Service Includes:
- All of your vesting service except:
- Periods of severance from state service of less than 12 months
- Job related educational leaves
- If you have worked part-time, your Credited Service must be adjusted to reflect the percentage of a full-time schedule you actually worked.
- If you have been continuously employed with no part-time service, no leaves of absence, and no periods of purchased or additional service, your service credit total should be the same under both of these measurements.
Part-Time Service:
- If you have had part-time service, you should know that:
- your part-time service will be treated as full-time service when determining your eligibility to retire (Vesting Service).
- your retirement income will be calculated to produce a benefit which reflects the portion of a full-time schedule you worked throughout your state employment (Credited Service).
- Example:
- Let’s assume a member worked part-time at 50% of a full-time schedule for 10 years:
- For determining eligibility, we will use 10 years.
- However, when calculating the benefit percentage, we will use 5 years (the full-time equivalent of working 50% of full-time for 10 years).
Further details can be found in the on-line Tier II / IIA Workshop and Summary Plan Description.
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