Purchasing Service Credit - Refunded/Rolled Over Colorado PERA DB Plan Account

(Click "Load Data," which will enter your personal account information if you have a PERA PIN/User ID and Password. Please note-the results displayed are based on the unaudited information reported to Colorado PERA by your employer. Records will be audited prior to a formal calculation by Colorado PERA when you apply for a purchase, benefit, or a refund/rollover. If you do not have a PERA PIN/User ID and Password, you may find it helpful to refer to your latest PERA Annual Member Statement for some of the requested information.)

Use this calculator to estimate the cost to purchase service credit based on a refunded account. If, at some time in the past, you terminated employment and withdrew your account(s), you forfeited the service credit you earned during that employment period. You may purchase all or a portion of the service credit you forfeited after returning to Colorado PERA membership and earning one year of service credit.

The cost to purchase service credit based on a refunded account is the amount refunded plus interest at the actuarial investment assumption rate from the date of withdrawal to the date of payment in full. If you are a member in the PERA benefit structure and your membership began on or after January 1, 2007, there is an additional cost of 1 percent of HAS (Highest Average Salary) for each month purchased. The HAS used in the cost calculation is the higher of the HAS associated with your current account or the HAS based on a combination of both your current and refunded accounts.

You are allowed to purchase service credit for refunded time within your current benefit structure (PERA or DPS). If you choose to "load data," only refunds within your current benefit structure will be loaded into the form below. Note: The time for any service credit being purchased cannot be concurrent with time, either earned or purchased, in the other benefit structure.

For more information on specific rules please view the Purchasing Service Credit booklet.

Enter Your Information

Enter information for each refund in a different row in the table below. At least one row of data must be entered.

  Months of service credit eligible for purchase Months of service credit requested for purchase Refunded amount Refund date (mm/dd/yyyy)
1. $
2. $
3. $
4. $
5. $

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Purchase Payment Information

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Purchasing Service Credit Definitions

Monthly Highest Average Salary (HAS)

If you are a member in the PERA benefit structure or in the DPS benefit structure, but were not eligible to retire on January 1, 2011, HAS is one-twelfth of the average of the highest annual salaries on which contributions were paid that are associated with three periods of 12 consecutive months of service credit. An annual limit of 8% or 15% applies to the salary increases.

If you are a member in the DPS benefit plan and were eligible to retire on January 1, 2011, HAS is the average monthly salary of the 36 months of earned service having the highest salaries. You can click the "Help me calculate my HAS" link to calculate this value.

Date you began PERA membership

Select when you began your current PERA membership, not the date you began PERA membership for the employment that was refunded.

Purchase Payment Information

Payment for purchases may be made in a lump sum, monthly installments, or a combination of the two. If you want to pay one lump sum, enter "1" for the number of installments. Otherwise, enter the number of monthly installment payments you wish to make, as well as any down payment or rollover amount that will be applied. Installments may be made over a period equal to twice the number of months being purchased, up to a maximum of 120 months. Note: Any down payment will be your first installment.

Highest Average Salary Calculation

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