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Frequently Asked Questions (FAQ) How Can I Purchase Service Credit?
A purchase of service credit is different from a redeposit in that you purchase service time that you have never had. For example, if you had previously worked for a public agency where there was no pension plan or you may be eligible to purchase additional service credit for time worked with any of the following agencies. You must be ineligible for a retirement benefit from any of these agencies except military reserve, to complete a service credit purchase:
- Federal Government, including military service (only for those hired on or before August 10, 1972)
- Alameda County and any city within Alameda County
- Any County in the State of California, including San Luis Obispo & San Francisco
- Any public school district in Alameda County
- East Bay Municipal Utility District (EBMUD)
- Port of Oakland
- State of California
Interest is included in your cost of public service purchases. This interest is what your money would have earned, if it had been in the trust during the time being purchased. The interest charged is credited to your individual account so you are paying interest to yourself. This interest remains in your account and earns additional interest for you, until you either withdraw or retire.
Please note that this credit may not be used to meet the minimum qualifications for regular service retirement, or for service and non-service connected disability.
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