Buying Back Your Past Service Can Boost Your Future Benefit
If you served in the military or the federal government, took a refund after leaving another VRS-covered position or have other eligible service such as educational leave, you may be able to transform that time into service credit.
Why It Matters
Purchased service counts toward:
- Increasing your monthly retirement benefit amount.
- Qualifying for retirement.
- The number of years required to become a vested member and qualify for a future benefit.
- The 15 years required to qualify for the health insurance credit, if applicable, and the amount of the credit at retirement.
- The hazardous duty supplement, if you qualify. Note that some types of prior service, such as military service or service with a non-VRS participating employer, may not count toward the supplement.
Why Act Now
You may purchase your prior service at any point while an active VRS member. However, you have a two-year window of time, beginning at the start of covered employment or after a period of eligible leave, to purchase most types of service at a lower rate. After two years, the cost of service may increase.
Where to Read More
Visit Purchase of Prior Service to watch a video on this topic, see a list of eligible service types and find other details.
Log in to myVRS to explore purchase options and evaluate the impact of purchasing service on your future retirement benefit, as well as the time it will take to recover your purchase cost in retirement.
