Get the free Prior Service Purchase Transfer form - Oregon.gov - oregon

PRIOR SERVICE PURCHASE TRANSFER TO THE OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM (PEERS) SAVINGS GROWTH PLAN This form is to request that funds on deposit in your Oregon Savings Growth Plan (SGP)

How to fill out prior service purchase transfer

How to Fill Out Prior Service Purchase Transfer:

1. Gather the necessary documents: Before filling out the prior service purchase transfer form, collect all the relevant documents such as your prior service information, employment records, and any other supporting documents required for the transfer.
2. Obtain the prior service purchase transfer form: Contact your employer or human resources department to obtain the specific form needed for the transfer. This form may vary depending on your company or organization.
3. Read the instructions carefully: Take the time to thoroughly read and understand the instructions provided on the prior service purchase transfer form. Familiarize yourself with the required information and any accompanying guidelines.
4. Provide personal details: Fill in your personal information accurately, including your full name, social security number, contact information, and current employment details. Ensure that all information provided is up to date and correct.
5. Enter prior service information: Fill out the sections related to your prior service details. This may include previous employment dates, job titles, and any retirement contributions made during that period. Provide accurate and comprehensive information to facilitate the transfer process.
6. Attach supporting documents: As instructed on the form, attach any necessary supporting documents that validate your prior service. These may include previous employment contracts, pay stubs, or retirement plan statements. Make sure to include all relevant paperwork to support your request effectively.
7. Review and double-check: Before submitting the form, carefully review all the information you have provided. Double-check for any errors or missing details. It is crucial to ensure that the form is filled out accurately to prevent delays or complications in the transfer process.

Who Needs Prior Service Purchase Transfer:

1. Employees changing jobs: Individuals who are changing jobs within the same organization or transitioning to a new employer may need to fill out a prior service purchase transfer. This allows them to transfer their previous retirement benefits or service credits to the new retirement plan.
2. Military personnel: Military members who transition from active duty to civilian employment or enter government service may require a prior service purchase transfer. This helps them consolidate their military service into their new retirement plan.
3. Employees with previous service credit: Individuals who have previously worked for an employer or participated in a retirement plan but have interruptions in their service may need a prior service purchase transfer. This enables them to count their previous service towards their current retirement plan.

In conclusion, filling out a prior service purchase transfer requires careful attention to detail and the submission of accurate information. It is essential to understand the specific requirements outlined on the form and gather all supporting documents. This transfer is typically needed by employees changing jobs, military personnel transitioning to civilian employment, or individuals with previous service credit.

For pdfFiller’s FAQs

What is prior service purchase transfer?

Prior service purchase transfer is a process where an individual transfers service credit from a previous retirement plan to a new plan.

Who is required to file prior service purchase transfer?

Individuals who have previous service credit from another retirement plan and wish to transfer it to a new plan are required to file a prior service purchase transfer.

How to fill out prior service purchase transfer?

To fill out a prior service purchase transfer, individuals must complete the necessary forms provided by their new retirement plan and submit any required documentation.

What is the purpose of prior service purchase transfer?

The purpose of prior service purchase transfer is to consolidate service credit from previous retirement plans into a new plan, ensuring individuals receive proper retirement benefits.

What information must be reported on prior service purchase transfer?

Information such as the previous retirement plan name, account number, dates of service, and any relevant contact information must be reported on a prior service purchase transfer.

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