Get Calpers Additional Retirement Service Credit Request Form

You must decide if it's worth it to you. If it will take you just a few years to get the cost of the service credit purchase back through increased retirement allowance payments, maybe it's worth it to you. Conversely, if it will take 20 years to get the cost back, you might decide it's not worth it to you.

You must earn at least 40 Social Security credits to qualify for Social Security benefits. You earn credits when you work and pay Social Security taxes. The number of credits does not affect the amount of benefits you receive.

The key to retiring at age 62 is to assess your current assets, estimate future income and preferred lifestyle, including whether you're willing to work part-time, and how you'll pay for healthcare until Medicare kicks in.

You may purchase a maximum of four years of military service credit if you meet one of the eligibility requirements as follows: A current, former, or retired member of a CalPERS-covered employer that contracts for this option.

You can apply: Online; or. By calling our national toll-free service at 1-800-772-1213 (TTY 1-800-325-0778) or visiting your local Social Security office. Call ahead to make an appointment.

Generally, you must have at least five years of service credit to be eligible. Second Tier members must have 10 years. Some exceptions apply to the service requirement. Contact us to see if you qualify.

A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after normal retirement age may result in larger benefits. With delayed retirement credits, a person can receive his or her largest benefit by retiring at age 70.

We recommend you request to purchase service credit early in your career because the cost will be lower, and you can pay off your lump sum balance in full prior to your retirement to maximize your benefit increase. To request online, log in to myCalPERS.