Eligibility for the longevity bonus is simple, but may require more service credit than you have earned to meet the 30-year minimum. There are 1.5 years left to earn enough credit. December 31, 2010, is the final day to meet eligibility requirements.

A reminder:

• December 31, 2010 = longevity bonus eligibility sunset date.
• You cannot earn more than one year of service credit in a school year.

To be eligible, you must:

• Retire after January 1, 2001
• Earn at least 30 years of service credit by the sunset date

Remember by December 31, 2010, you:

• Do not have to retire to be eligible
• Need a minimum of 30 years service credit

Your total years of qualified service credit at retirement determine your bonus, as long as you had at least 30 years by the sunset date:

Options to Increase Earned Service Credit

The Member Handbook explains service credit options in detail.

Work to Increase Service Credit:

• Perform summer school during the 2010 summer session.
• Perform additional assignments.
  • Limited to the first half of 2010-2011 school year.
• Return to active service from retirement and you can:
  • Qualify for the bonus if you meet the 30-year minimum by the sunset date.
  • Increase the bonus amount if your new service brings you to a total of 31 or 32 or more years of service.

To Increase Service Credit Without Working:

• Pay a past refund by the sunset date.
  • Applies to purchase and redeposit of service credit.
• Apply unused sick leave, limited to 0.2 years of service credit.
  • Submit a service retirement application with retirement effective date on or before December 31, 2010.

Types of Qualifying Permissive Service Credit

You may purchase service credit to reach the 30-year minimum requirement. 13 types of permissive service credit meet the criteria. Examples of allowable permissive service credit include:

• Nonmember service
• Maternity or paternity leave
• Family medical leave (after October 1992)

All 13 types of permissive service credit are explained in:

• Purchase Additional Service Credit
  • Comprehensive information to decide which additional service credit to purchase (contains forms).
• Purchase Service Credit Now
  • 2-page fact sheet of service credit and its affect on final retirement benefits.

Types of Service Credit That Cannot Be Used

• Early retirement incentive.
• Unused sick leave greater than 0.2 years.
• Unused educational leave.
• Projected service credit used when a Disability Allowance is converted to a Service Retirement.
• Nonqualified service credit (Time when no creditable service was performed.)

Special Situations Affecting Service Credit

Certain special situations can affect your eligibility for the longevity bonus.

Including:

• Divorce
• Participating in the Reduced Workload Program
• Retiring in the middle of the school year

Contact us directly at 800-228-5453 or via e-mail if you need more help.

Review the background of the longevity bonus and how it affects your monthly retirement income.