HB598 Summary

• Active and contributing members of Oxford Emergency Medical Services, Inc. participating in the Employees' Retirement System may purchase prior non-qualified service credit for employment before July 14, 2009, if they have at least five years of creditable service in the system.

• Active and contributing members of the Teachers' Retirement System or Employees' Retirement System with 10 or more years of credible service may purchase up to 10 years of prior service credit for employment with the United States Department of Agriculture Farm Service Agency, with payment due within one year of the act's effective date.

• Members cannot receive duplicate credit for service already credited in either system or any other public retirement plan, except for federal Social Security.

• Purchased service credit does not count toward out-of-pocket premium amounts for retirees and does not accelerate eligibility for PEEHIP or State Employees' Health Insurance Plan benefits beyond what members would have achieved without the purchased service.

• The act becomes effective immediately upon passage and approval by the Governor.