38-743. Public service credit
A. If an active member of ASRS or a member who is receiving benefits pursuant to
section 38-797.07 was previously employed by the United States government, a state,
territory, commonwealth, overseas possession or insular area of the United States or a
political subdivision of a state, territory, commonwealth, overseas possession or insular
area of the United States, excluding any time worked for a prison while the member was
incarcerated, the member may receive credited service for this prior employment if the
member pays into ASRS the amount prescribed in subsection B of this section.
B. A member who elects to receive credit for service with the United States
government, a state, territory, commonwealth, overseas possession or insular area of the
United States or a political subdivision of a state, territory, commonwealth, overseas
possession or insular area of the United States shall pay to ASRS an amount equal to the
present value of the additional benefit that is derived from the purchased credited
service using the actuarial assumptions that are approved by the board.
C. A member who previously was a member of another public employee retirement
system and who receives or is eligible to receive retirement benefits from that system
for any period of employment is ineligible to receive retirement benefits from ASRS for
the same period.
D. Beginning July 1, 2010, a member shall have at least five years of credited
service in ASRS before electing to receive credit for service pursuant to this section.
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