Deadline to purchase CalPERS “airtime” is Dec. 31

As a result of legislation adopted earlier this year, the purchase of Additional Retirement Service Credit (ARSC) from CalPERS – which applies to for time not actually worked and is often colloquially known as “airtime”– will be eliminated effective Jan. 1, 2013.

Previously, faculty members with at least five years of qualifying service credit in CalPERS and five years as CalPERS members were eligible to purchase up to five years of additional “airtime” service credit.

Learn more about ARSC.

Interested employees must submit an official application to purchase airtime to CalPERS by the close of business on Monday, Dec. 31, 2012. Please note that applications postmarked but not received at CalPERS by Dec. 31, 2012 will not be accepted.

If you are thinking about purchasing any service credit for which you may be eligible, you will need to submit your request using the Steps for Requesting Additional Retirement Service Credit form which is only available for download through the Service Credit Cost Estimator.

The form includes instructions for completing and submitting your application.