38.1633 Purchase of service credit for service in VISTA or Peace Corps; eligibility exception.

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Sec. 33.

(1)Except as otherwise provided in this section, a member may elect to purchase service credit for not more than 2 years of full-time service as a volunteer in the VISTA program provided for under sections 101 to 108 of title I of Public Law 93-113, 42 USC 4951 to 4958, or as a volunteer, volunteer leader, or employee in the Peace Corps under sections 5 to 7 of title I of Public Law 87-293, 22 USC 2504 to 2506, on request and presentation of documentation of the employment rendered that is verifiable from official reporting unit records or other acceptable documentation as determined by the retirement board, and on payment to the retirement system of an amount that is equal to the actuarial cost of the service. For the purpose of computing payment under this subsection, the compensation amount used must not be less than the highest fiscal year compensation previously received by the member.

(2)Service must not be credited under this section until the member has accumulated 10 years of credited service.

(3)Service credit purchased under this section is not creditable toward retirement under this act if the member is or will be receiving a pension or annuity for the same service from another retirement system.

(4)A member may purchase credit under this section instead of, but not in addition to, purchasing service credit under section 32.

(5)A member who first became a member on or after June 10, 2012 is not eligible to purchase service under this section.

History: 1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674 , Imd. Eff. Dec. 28, 2018