Your Cost to Purchase Service

for Tier 1 Regular Plan Members

When you submit an application to purchase service, IMRF will send you a buyback election confirmation letter. This letter includes the service period you are eligible to purchase and the employer it will be established under. If appropriate, information about concurrent service credit that will occur because of your purchase of service.

Make sure you read this carefully—it contains important information about your purchase of service.

Your buyback election confirmation letter gives you the cost to purchase your service in the current year and the following two years. However, you can purchase (or continue purchasing) service after the years indicated on your buyback election confirmation . To obtain an updated cost quote , call an IMRF Member Services Representative at 1-800-ASK-IMRF (275-4673). 

How to Read Your Buyback election confirmation letter

On your cost quote, you will see this information:

Interest is added every year
On January 1 of each year, interest is added to your cost. We provide you with costs for purchasing the service in the current year and in the next two years.