Buying Wyoming WRS service: up to 5 years, one time

Short answer: if you're an active, vested member, you can buy up to 5 years of WRS service one time (8 in all for honorably discharged veterans). Bought years count in the formula and can bring the Rule of 85 up to 2.5 years sooner, but never change your tier. To see what extra years do, add them to your service in the calculator.

Active, vested members may make a one-time purchase of up to 5 years of service credit. Honorably discharged U.S. military veterans may buy more (one year per year of military service), up to 8 years in all. The price is a lump sum equal to the actuarial equivalent of the added benefit at your age (WRS quotes it). Pay with personal funds or a pre-tax rollover (not after-tax or Roth money). Purchased service counts toward the benefit and the Rule of 85 (it can bring the Rule of 85 up to 2 1/2 years sooner) but never changes your tier; military purchased service does not count toward vesting. Handbook p. 10, Increasing Your Pension Benefit via a Service Purchase; W.S. 9-3-415(d), (m)(i)-(vii)

Military deployment

Members called to active military service while contributing can get service credit for the deployment if they return to the pre-deployment WRS employer after honorable discharge, provide a DD-214 and pay the missed employee contributions (the employer pays its share). Handbook p. 26, Military Deployment; W.S. 9-3-417(c)

Service you took a refund for

If you took a refund and return to a WRS employer, you can redeposit to restore the forfeited service: wait two years after re-employment, then pay a single lump sum (set by WRS) within ten years of re-employment. Pre-tax rollovers or personal funds can be used. A redeposit made while in Tier 2 does not move you back to Tier 1. Handbook pp. 12-13, Redeposits and Important Tier 2 Rule Leaving: refund or pension?

From the sources

• If you are active and vested, you can make a one-time purchase of up to 5 years of service. Honorably discharged veterans can buy more, up to 8 years in total. WRS prices it at the actuarial value of the extra benefit at your age.Handbook p. 10, Increasing Your Pension Benefit via a Service Purchase; W.S. 9-3-415(d), (m)
• Purchased service counts toward your benefit and the Rule of 85, and buying 5 years can bring your Rule of 85 date up to 2 1/2 years sooner. You can pay with a pre-tax rollover (401(k), 403(b), 457(b), traditional IRA) or personal funds, but not Roth or after-tax money. Purchased service never changes your tier.Handbook p. 10, Increasing Your Pension Benefit via a Service Purchase; W.S. 9-3-415(d)

Questions

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