Purchase of Service Credit. Employees hired on or after July 1, 2005, are not eligible for the purchase of service credit (“airtime”) in SDCERS, except for credit for up to five years of military service. Article 4, Division 13 of the Municipal Code will be revised to reflect this change.
Purchase of Service Credit. Employees hired on or after July 1, 2005, are not eligible for the purchase of service credit (“airtime”) in the San Diego City Employees’ Retirement System (SDCERS or Retirement System), except for credit for up to five years of military service. Article 4, Division 13 of the Municipal Code has been revised to reflect this change.
Purchase of Service Credit. (Employees Hired On or After July 1, 2005): Employees hired on or after July 1, 2005, are not eligible for the purchase of service credit (“airtime”) in SDCERS, as set forth in SDMC Section 24.1312.1.
Purchase of Service Credit. A five-year purchase of service credit provision is established effective January 1, 1997. Under this provision, a Member hired before July 1, 2005, may purchase up to five years of service credit by paying both employee and employer contributions in an amount and manner determined by the SDCERS Board to make the Retirement System whole for such time. In addition, Members retiring on or after January 1, 1997, may purchase probationary periods, Military and Veterans Code leaves, waiting periods for the 1981 Pension Plan, actual time worked hourly or part time, special leaves without pay occurring prior to January 1, 1997, the difference in time between part time and full time prior to January 1, 1997, Long Term Disability (LTD), Vocational Rehabilitation Maintenance and Temporary Total Disability, Family Medical Leave Act periods, special leaves of absence with job to be saved periods and any period preceding reinstatement by the Civil Service Commission following a termination appeal.
Purchase of Service Credit. The employee may purchase service credit by payroll deduction under an SERS payment schedule.
Purchase of Service Credit. Employees may purchase service credit on a payment schedule per SERS guidelines.
Purchase of Service Credit. A. At no cost to the City, employees may purchase up to three (3) years of prior municipal time as credit towards retirement. Should an employee have three (3) years experience as a fire fighter with another municipality and exercises his/her option to purchase all three (3) years toward retirement credit, then the employee would only have to work twenty-two (22) years to satisfy the twenty-five (25) year service requirement for regular retirement. To satisfy this requirement, the employee shall pay 5% of their full time or equated full time (part-time employment will be counted on a two (2) for one (1) basis - two (2) years part- time experience equals one (1) year full time experience) compensation plus any and all associated City costs to the pension system. For purposes of this section, paid-on-call fire department employment shall be considered as full-time employment. Payments may be made through a payroll deduction plan.
Purchase of Service Credit of this Agreement.
Purchase of Service Credit. Rules governing the purchase of service credit by an employee are governed by the Municipal Employees’ Retirement System (MERS). The City agrees to allow the purchase of service credit for up to five years (60 months) of generic service credit. Service credit shall be administered according to the MERS plan. Employees can purchase service credit to meet early retirement or increase their pension benefit with the following conditions as prescribed by MERS:
Purchase of Service Credit. To the extent permitted under the code and the Kansas statutes governing the Kansas Public Employees Retirement System (KPERS), a Participant may direct the Administrator to transfer all or any portion of the Participant's account balance to KPERS for the purpose of purchasing "participating service" thereunder.
