State Teachers' Retirement System; Service for Out-of-State Service
(a) This section applies only to a member who elects to receive out-of-state service credit pursuant to Section 22827.
(b) The member shall pay all contributions with respect to that service at the contribution rate for additional service credit adopted by the board as a plan amendment in effect at the time of election.
(c) Contributions shall be based upon the member?s age at the date of the election and upon compensation earnable in the last school year of credited service or either of the two immediately preceding school years, whichever is highest.
(d) Any payment that a member may make to the system to obtain credit for out-of-state service shall be paid in full before a member or beneficiary may receive any adjustment in the appropriate allowance due date because of that payment.
(e) The system shall make any appropriate adjustments to the member?s benefit allowance to reflect the purchase of additional service retroactive to the effective date of retirement.
(f) Contributions for out-of-state service credit shall be made in a lump sum.
(g) If the payment election described in subdivision (b) is not received at the system?s headquarters office within 30 days of receiving a bill for this purchase from the system, the election shall be canceled.
(h) If the election to purchase out-of-state service is canceled as described in subdivision (g), the member may, prior to June 30, 2009, make a new election to purchase out-of-state service pursuant to this section.
(Amended by Stats. 2013, Ch. 558, Sec. 14.)