Prior Refunded Service Buyback (MSRB)

Information on service purchases depending on your start date.

Service Prior to April 2, 2012

If you entered state service prior to April 2, 2012, and you wish to purchase prior refunded service and other certain types of service, you had until April 2, 2013 to enter into a buyback agreement in order to be assessed with half of the actuarial assumed interest on your buyback.

Service on or After April 2, 2012

If you re-entered service on or after April 2, 2012, and you wish to purchase prior refunded service and other certain types of service, you have one year from your re-entry date to enter into a buyback agreement to qualify for the current 4% buyback interest rate. After the one year limit has passed, members entering into a buyback agreement will pay the full actuarial assumed interest, currently 8%. 

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