Reinstating Credit

If you have previous PEERS credit you forfeited by taking a refund of your account balance, you can buy back, or reinstate, all or any portion of the credit. In most cases, you will receive information regarding any credit you are eligible to reinstate at the time you establish your PEERS membership, as well as a cost estimate.

Typically, a reinstatement is less expensive than a credit purchase. Your cost is based on the amount refunded, plus interest from the date of the refund. Interest accrues on the first of each month. The interest rate, currently 8%, is subject to change each July 1, and is set by the PSRS/PEERS Board of Trustees.

Payment is due prior to your PEERS retirement date in order for the credit to be included in the calculation of your retirement benefit. If you pay a portion of the reinstatement cost, you receive proportional credit based on the payments you make.

If you believe you are eligible to reinstate forfeited credit and you do not receive information from us, please contact us. If eligible, we will provide a cost estimate and Application to Reinstate Credit. Filing an application to reinstate credit does not create a contractual obligation on your part to complete payment.

Rollover/Transfer Certification Form and Information Sheet

Brochure: Purchasing and Reinstating Credit