Purchase Service Credit with a Rollover
You may purchase additional service credit* through rollovers from:
- your Texa$aver 401(k) or 457 Plans,
- rollovers from other qualified plans or IRAs, or
- by lump sum payments.
It's better financially for you to use funds from a qualified account, because there are no tax consequences.
Get Started
Submit a service purchase request to find out the cost to purchase withdrawn, military, waiting period, or additional service credit
- Contact ERS. There are no forms to complete; all it takes is a phone call. find out the cost to purchase.
- You will be asked to provide information about your Texa$aver 401(k), 457, or other qualified account that you will be using to roll over funds (purchase the service credit). The purchase is done electronically.
If you wish to purchase service using your Texa$aver 401(k) or 457 funds, This transaction is not a loan
- You do not need to repay the funds you have used to purchase your service.
- There are no taxes withheld or penalties imposed on these transactions.
- The purchase is done electronically.
If you have a Texa$aver 457 plan, you can purchase service credit you earned while working for a Teachers Retirement System (TRS) agency or institution. Contact TRS for more information.
*If you have left state employment, you can purchase military and withdrawn service credit (if you are eligible).
