Credit for Waiting Time

When you retire, you can receive credit for your waiting period(s). If you have more than one waiting period, you may be able to purchase credit for one or more of those waiting periods.

To purchase your waiting time credit, you must:

·	have at least 10 years of combined creditable service Creditable service is one of the factors used to determine a member’s retirement eligibility and pension amount at retirement. Members earn service credit for every calendar month in which they are employed in a qualifying position for more than half the total days in the month and are paid by their PERS-participating employer. Working fewer than 600 hours in a month or taking a leave without pay lasting half the month or more disqualifies a month from earning service credit. and prior service under PERS,
·	apply to purchase the waiting time credit in a format acceptable to PERS,
·	purchase the credit within the 90-day period before your effective date of retirement The first day of the month following the last day a member (1) worked, was on vacation, or was paid sick leave, or (2) the first of the month a member files his or her application for benefits, whichever is later., and
·	make the purchase in one payment. The payment must equal the contributions you and your employer would have made had you been a member during that period.

Contact Customer Service if you are interested in this credit and believe you qualify.