Benefits of Service Credit
Service credit measures the amount of time you have participated
in MercedCERA and is one of the four factors used to determine
the amount of your lifetime pension. In most cases, the more
service credit you have at the time of retirement, the higher
your benefit will be.
Purchasing Option
Most service credit is earned as you work. However, you may be
eligible to purchase some additional service credit. If you are
considering purchasing service credit, MercedCERA will help you
determine whether the service qualifies for purchase, how much it
will cost, and the benefit you would receive by investing in more
service credit.
Types of service credit eligible for purchase:
- Leave without pay
- Military leave without pay
- Prior public service/Military service
- Redeposit of withdrawn contributions
- Service prior to membership
Request to Purchase Service Credit Form
For detailed information on the different types of service
credit, how the cost is determined, and the various payment
options available, please view the form Request to Purchase
Service Credit. This document will also tell you what information
you will need to submit to MercedCERA before the cost of the
purchase can be determined.
Additional Information
If you are purchasing time worked for a MercedCERA employer, this
service credit may help you become vested and meet retirement
eligibility. Prior public service and military service do not
help to become eligible for vesting or retirement but may add to
your monthly benefit amount.
