Purchasing service credit in plan 2 and plan 3 of the teachers' retirement system for public education experience performed as a teacher in a public school in another state or with the federal government.
Summary
Reduces from five years to two years the service credit that a member must earn in the Teachers' Retirement System Plans 2 or 3 before being eligible to purchase out-of-state service credit at full actuarial cost.
From the House Bill Report (HB 3024), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to purchasing service credit in plan 2 and plan 3 of the teachers' retirement system for public education experience performed as a teacher in a public school in another state or with the federal government;