Ipers Buy Back Apr 2026

: Typically, you must be a vested member to make a service purchase. Vesting generally requires seven years of service or reaching age 65 while in covered employment.

: Service purchases must generally be completed before you receive your first retirement check. ipers buy back

: IPERS calculates how much money is needed today to fund the increased benefit you will receive in the future. : Typically, you must be a vested member

Purchasing service credit is a strategic financial move for many public employees because IPERS benefits are calculated using a formula based on your years of service and your highest average salary. By "buying back" time, you effectively increase the "years of service" variable in that formula, leading to a higher monthly pension for life. ipers buy back