Make purchases early in your career!
As a TRSL member, you earn an entire year of service credit for each full contract year worked; however, you may also be able to purchase certain types of service credit.
Purchasing service credit may increase your retirement benefit and/or enable you to retire sooner. But the best time to do it is early in your career; the longer you wait, the more expensive these purchases tend to be.
STEP 1: Determine if you have eligible service
Purchasing TRSL service credit is possible for many types of service, including legal leaves of absence, sabbatical leave, substitute teaching service, involuntary furlough, local/state public employment, non-TRSL charter school service, in-state private school, out-of-state public school, non-USERRA military service, and U.S. dependent school teaching service. Once you know the type of service credit you'd like to purchase, you'll need to complete the appropriate form. You can read more about the process here. STEP 2: Calculate the actuarial cost of service credit
You'll need to submit a $150 fee to have TRSL's actuary calculate the actuarial cost of the service credit. This cost will be based on your age, current salary, years of TRSL service credit, and years of service credit to be purchased.
STEP 3: Choose a method of payment
Once the cost has been calculated, you can purchase it by check or money order. Or, rolling over funds in a retirement account, such as a 401(k) or a 457, is another way. Service credit purchases must be completed before you retire or enter DROP. Read our brochure, Purchases and Transfers of Service Credit, or contact us today to get started!
