If you have previously worked for a public agency and received a refund for this service, upon termination, you can repay the amount withdrawn plus interest and gain the service again for retirement credit. If you worked before retirement was withheld, you may also qualify for this previous service, or if you have worked in another state, you may be able to purchase service from that state.
A one for five service is available to all. Under this program you can purchase one year of additional service for every five years of service credit you have.
Active Military Service Qualification
In addition, all active members have the right to qualify active military service for retirement purposes. The cost of this type of qualification is based on the actuarial rates required to fund the service purchase in each system. Some systems require at least ten years of service prior to reaching eligibility while others require 15 years. A copy of your DD 214 is required and individual requirements must be met.
Requesting a Cost Statement
If you are interested in receiving a cost statement from the Montana Public Employee’s Retirement Administration, a written request must be submitted to:
Montana Public Employee’s Retirement Administration
P.O. Box 20013
Helena, MT 59620-131
These written requests should include as much information as possible about the service you are trying to qualify for, as well as your home address and Social Security number.