Purchasing prior service is now easier than ever as myVRS expands to serve its members better.
Members that have prior service from previous public employment, active duty military service, an eligible period of leave or VRS refunded service, can purchase it as service credit in their plan. Prior service credit counts toward the five years needed to become vested and eligibility for retirement and the health insurance credit.
Through a myVRS account members can:
- View prior service in their account that is eligible for purchase.
- See the impact of purchasing service on their future retirement benefit.
- Evaluate the time it will take to recover the purchase cost in retirement.
- Select the type and amount of service to purchase.
- Choose the order in which to purchase service.
- Calculate the cost to purchase service.
A myVRS account also offers counseling tips to guide members through the purchase process. Members can purchase prior service through a lump-sum payment to VRS or through a purchase payment agreement with their employer.