What is Forfeited Service?
If a member takes a separation benefit, they forfeit (lose) all the years of service they earned with the WRS. Members may be able to buy back the service they lost. Buying back WRS service usually increases the amount of your retirement benefit.
To purchase forfeited service, you:
- Must have at least 3 complete consecutive earnings periods (fiscal or calendar year) since you came back to WRS employment.
- Can only buy the amount of service you have earned since your return.
- May purchase part, or all the service you lost.
- May purchase service up to 2 times each year.
Must send, and ETF must receive, your application and payment to purchase forfeited service before you terminate your WRS employment. Forfeited service cannot be purchased after you terminate.
Three (3) ways to pay for forfeited service:
- A personal check or money order;
- WRS additional contributions (if you made them); or
- A plan-to-plan transfer from a retirement plan other than the WRS.
The Forfeited Service Calculator
The calculator estimates the cost of buying forfeited service. The accuracy of the estimate depends on the information you enter. Use the information from your most recent annual Statement of Benefits.
- Will show about how much your benefit would increase if you buy the service.
- Shows the increase for both formula and money purchase calculation methods.
- Shows the benefit increase for the highest paying annuity option only. The increase will be less if you choose a lower paying option.
- Gives you the option to estimate the cost of buying only part of the service once it calculates the full cost.
- Can calculate how much service you can buy for a specific dollar amount.
- Estimates the number of years it would take to recover your cost of buying the service.
ETF recommends using the WRS Retirement Benefits Calculator to see how buying forfeited service could increase your retirement benefit.
For more detailed information about WRS retirement benefits, review the Calculating Your Retirement Benefits (ET-4107) brochure.