Can I purchase service credit to increase my retirement benefits?

Yes, purchasing service credit can be a beneficial way to increase retirement benefits through the California Public Employees Retirement System, commonly referred to as CalPERS. When an individual buys service credit, they are essentially paying to receive additional retirement service time, which can enhance their pension calculation. This can be particularly valuable for those who have gaps in their employment history, such as for time spent in different public agencies, leave of absence, or even military service. There are specific eligibility requirements and procedures for purchasing service credit, and these can vary depending on an individual's situation. Some available options include buying service credit for previous non-covered governmental employment, military service, or unused sick leave. It is important for individuals to carefully consider the financial implications and long-term effects on their retirement benefits before making a decision. To navigate the process and understand the requirements, one should access CalPERS's official website, where detailed information is available on how to purchase service credit, eligibility criteria, and procedures. This can ensure that an informed decision is made based on up-to-date information.