Section R2-8-502. Request to Purchase Service Credit and Notifica- tion of Cost

A.      An eligible member may request to purchase service credit verbally, in writing, or electronically. The eligible member shall provide the eligible member’s mailing address and desig- nate which category of service credit the eligible member is requesting to purchase.

B.       The ASRS shall send a letter acknowledging the request to purchase service credit to the mailing address provided by the eligible member. The ASRS shall provide, with the acknowl- edgment letter, any form specified in this Article that corre- sponds to the category of service credit the eligible member requests to purchase and indicate in the acknowledgment letter the deadline for providing supporting documentation of ser- vice credit to the ASRS.

C.      Except as provided in R2-8-519(A), the eligible member shall provide documentation of service credit as required by this Article within 90 days of the eligible member’s request to pur- chase service credit. If the ASRS has not received complete and correct documents within 90 days of the request to pur- chase service credit, the ASRS shall cancel the eligible mem- ber’s request to purchase service credit. The eligible member may make a new request to purchase service credit.

D.      Upon receipt of the documentation required by this Article from the eligible member and if the eligible member’s request to purchase service credit meets the requirements of this Arti- cle, the ASRS shall provide the following to the eligible mem- ber:

1.        A SP invoice stating the cost to purchase the amount of service credit the member is eligible to purchase and the date payment is due;

2.        A Service Purchase Payment Request form requesting the following information:

a.         The member’s name;

b.        The member’s Social Security number;

c.         The member’s mailing address;

d.        The member’s daytime telephone number;

e.         ID number listed on the SP invoice;

f.         Either the number of years or partial years of service credit the member wishes to purchase or the cost for the number of years or partial years of service the member wishes to purchase, not exceeding the years or partial years and cost specified on the SP Invoice;

g.        If the member elects to pay for the service credit by trustee-to-trustee transfer, IRA rollover, distributed rollover contribution, or direct rollover, the antici- pated number of rollovers or transfers;

h.        If the member elects to pay by Irrevocable Payroll Deduction Authorization, the amount of money the member wishes to pay per pay period;

i.         If the member elects to pay for the service credit by check, the check number and amount of the check;

j.         If the member elects to pay any cost remaining at retirement or termination of employment with a ter- mination pay distribution, the retirement date or last date of work;

k.        The member’s signature and date of the signature; and

3.        Other forms the member may need to complete the request for service credit purchase.

Historical Note

New Section made by final rulemaking at 11 A.A.R. 2640, effective June 30, 2005 (Supp. 05-2). Amended by final rulemaking at 12 A.A.R. 4667, effective December 5, 2006 (Supp. 06-4). Amended by final rulemaking at 18

A.A.R. 3130, effective January 6, 2013 (Supp. 12-4).