Can I direct a trustee-to-trustee transfer to purchase permissive service credit with CalPERS?
Yes, effective January 1, 2002, such transfers can be made even if you are still an employee of BART. Permissive service credit has a narrow technical meaning under Code Section 415(n)(3) and is limited to service credit (1) recognized by CalPERS for purposes of calculating a person’s benefit, (2) which such person has not received under CalPERS, and (3) which such person may receive only by making a voluntary additional contribution to CalPERS. Please note you cannot use deferred compensation plan money to purchase Additional Retirement Service Credit. Please refer to question 25 under the Money Purchase Pension Plan.
Related Questions
- If I terminate my CalPERS membership and take a refund rather than retire, will I get my service credit purchase payments back?
- Can I rollover or transfer from another retirement plan to another retirement account to purchase service credit in OPERS?
- Can I direct a trustee-to-trustee transfer to purchase permissive service credit with CalPERS?
