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How service purchases, sick/vacation conversion and reciprocal time affect SERS pension credit
Summary
SERS presenter detailed optional service purchases (military, refunded service), methods of payment (payroll, roll‑in, lump sum), sick/vacation conversion charts with examples, and limits and rules for using reciprocal time from other Illinois systems.
Unidentified Speaker (SERS presenter) described how members can increase service credit through purchases, conversions and reciprocal time. He explained the online request to calculate the cost for buying optional service (military time, refunded service, leaves) and the payment options: write a check, roll in funds from deferred compensation or other retirement accounts, or set up an…
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