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University

University

 

Eligibility

You may be credited with service performed with Grand Valley State University, Michigan State University, Oakland University, Saginaw Valley State University, University of Michigan, or Wayne State University. The service may be granted or purchased, depending on the dates of your employment with the university.

Conditions

  • You may use university service credit to satisfy vesting requirements.
  • Your former employer(s) must certify your service.
  • If at any point in time you accumulated enough service credit to qualify for a pension based on this service, you cannot purchase the service unless you have relinquished all rights to the pension benefit. Distributions, transfers, or refunds are not considered a relinquishment.
  • If you are eligible to receive a benefit with TIAA-CREF based on this service, you cannot purchase the service.
  • No partial credit can be granted. Any purchase or transfer must be for all of your prior eligible university service, or none can be credited.
  • Because only 1 year of service credit can be earned in any state fiscal year (Oct. 1-Sept. 30), you cannot receive credit for any university service you earned while also working full time for the State of Michigan.
  • You must be a contributing member of the Defined Benefit Plan to initiate a purchase.

Cost

If you began working for one of the above universities after July 1, 1974, there is no charge for the service credit.

If you worked for one of the universities before July 1, 1974, you may receive credit for your service by paying the contributions you would have made to the retirement system if you had been a State Employees' Retirement System member, plus interest. The contributions are based on the wages you earned while employed by the university.

Application

Submit a University Service Credit Application (R0447G) form completed by you, your university employer, and the employer's custodian of retirement records. Follow the directions provided on the form. For more information see How to Purchase.