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Member Purchases


If you are missing service and/or salary during your career, you may qualify to purchase the credit. Purchasing the credit is optional, but could result in a larger benefit with PERA. Two opportunities to purchase credit are provided below:

Repaying a PERA refund

If you were previously a PERA member who left public service and received a refund, you have the option to repay the refund plus interest to restore the lost credit with PERA.

 

Leave purchases

During your career, you may take a leave from your public position covered by PERA. You may purchase missing contributions plus interest to restore the lost credit.

Types of leaves include:

  • Authorized Leave (medical, FMLA, parental, personal, etc.)
  • Workers’ Compensation Leave
  • Military Leave
  • Employer-Sponsored Leave (furlough, special leave, budgetary)
  • Strike

  

What is the purchase cost?

The member purchase amount for:

  • Repaying a Refund. The amount of your original refund plus interest.
  • Leave Purchase. Generally, the amount of your missing employee and employer contributions during the leave period, plus interest.

 

Interest is compounded based on rates specified by the Minnesota Legislature:

  • 8.5 percent through June 30, 2015
  • 8.0 percent July 1, 2015 – June 30, 2018
  • 7.5 percent July 1, 2018 forward

Payment options

You have two methods to provide payment to PERA:

  • Personal check payable to “PERA”
  • Direct Rollover from another qualified plan

The payment could be a combination of a personal check and a direct rollover. Or, the payment could be multiple direct rollovers from different qualified plans.

   

Resources:

Repaying a PERA Refund  Leave Purchase Leave Form Leave Form—Military Only Member Handbooks