Public Employees Retirement System - Redeposits

Eligibility

If you withdrew your PERS contributions, you relinquished your service credit at that time. If you pay back or "redeposit" these contributions to PERS, together with interest (compounded from the date of withdrawal to completion of payment, at the interest crediting rate in effect at the time of election), you restore this service credit in full. You may make a redeposit under any of the following conditions:

1. You returned to PERS-covered employment and are now a member, or
2. You have not returned to PERS-covered employment but are a member because you have contributions on deposit, or
3. You are now a member of the State Teachers' Retirement System, University of California Retirement System, Legislators' Retirement System, Judges' Retirement System, or a "reciprocal" retirement system. While a member of any of these systems, you may redeposit into PERS your withdrawn PERS contributions.

Redeposit Election

1. You may request a calculation from PERS of how much the redeposit will cost you and how much the redeposited service will increase your retirement allowance. This will help you decide if the cost is worth the increased benefit. If you decide to redeposit you must complete and return to PERS the election form provided with the cost calculation.
2. If you withdrew your PERS contributions for one or more membership periods in one withdrawal, your repayment election will apply to the entire amount of that withdrawal, plus interest.
3. If you withdrew your PERS contributions for different periods in different withdrawals, you may elect one redeposit to cover all the withdrawals. Or you may make separate redeposit elections for the withdrawals,-but they must be made in reverse chronological order [most recent withdrawal(s) first, oldest last]; also payment must be completed before an election can be made to redeposit older withdrawal(s).

Cost and Payments

1. To obtain "cost" information for your redeposit and/or additional service credit, you may write to the- PERS Membership Division. Requests should include the following information:
   1. Your name
   2. Social Security Number
   3. Current employer
   4. Type of service credit desire and the dates involved
   5. The name of employer(s) involved
   6. Any previous names used in employment
   7. Daytime telephone number (optional)
2. The response prepared by PERS will include:
   1. Specific employment periods which qualify
   2. Amount of eligible service credit
   3. Lump sum payment cost or alternative installment payment costs
3. Also provided with the cost information is an election form. If you decide to pay for the service credit, you must sign the election form, show your choice of the method of payment, and return the election form to PERS.  A check or money order must accompany your election if you elect to contribute in one lump sum payment.
4. Each cost calculation for redeposit or additional service credit includes interest through the date of completion of payment, at the interest crediting rate in effect at the time of election.
5. Payments may be made in one lump sum or installments, which may be taken out of your paycheck as regular deductions if you are an active PERS member. The maximum period allowed to complete your payment is 96 months, but there is a minimum allowable deduction of 2% of your gross salary.
6. Elections for redeposit or other additional service credit must be made prior to retirement. If you are close to retirement when you elect to receive additional service credit, please note that your retirement date can be no earlier than the day following receipt by PERS of the election form. It is important that you request any additional service credit information well in advance of your retirement, to avoid possible delays in your retirement date.
7. If you have not completed your installment payments prior to retirement, you may elect to continue your payments into retirement through deductions from your retirement allowance. You may also choose to pay the balance in full prior to retirement, or (if your retirement is not an Industrial Disability Retirement) stop your payments and have your service credit reduced accordingly. In most cases, your survivor may continue your payments through deductions from the survivor allowance.

General Information

1. If you have any questions regarding the status of your retirement after you apply, you may call (877) 720-7377.

    

2. PERS Office Addresses:

    

   Sacramento Regional Office
   2750 Gateway Oaks Drive, Room 140
   P.O. Box 942710
   Sacramento, CA 95833
   (877) 720-7377
   TTY (916) 326-3240

   San Francisco Regional Office
   301 Howard Street, Suite 2020
   San Francisco, CA 94105
   (877) 720-7377

   Glendale Regional Office
   Glendale Plaza
   655 North Central Avenue, Suite 1400
   Glendale, CA 91203
   (877) 720-7377

   San Bernardino Regional Office
   650 East Hospitality Lane, Suite 330
   San Bernardino, CA 92408
   (877) 720-7377

   San Diego Regional Office
   7676 Hazard Center Drive, Suite 350
   San Diego, CA 92108
   (877) 720-7377

   Mountain View Regional Office
   650 Castro Street, Suite 240
   Mountain View, CA 94041
   (877) 720-7377

   Orange Regional Office
   500 North State College Blvd., Suite 750
   Orange, CA 92868
   (877) 720-7377

   Fresno County Regional Office
   10 River Park Place East, Suite 230
   Fresno, CA 93720
   (877) 720-7377

3. While reading this material, remember that we are governed by the "Public Employees' Retirement Law," and it is the basis of all of our decisions. The statements are general and we have made them as simple as possible while still being accurate. The Retirement Law is sometimes complex and is subject to change, but when there is a conflict, any decision will have to be based on the law and not this material.