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Learn how to transfer funds from your 401(k) or 457 Plan for a prior service purchase in Ventura County retirement. For further details, contact us.
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What is prior service purchase form?
The prior service purchase form is a document used by employees to apply for the purchase of credited service time for work previously performed, which can affect their retirement benefits.
Who is required to file prior service purchase form?
Employees who have prior service with a different employer or agency and wish to credit that service towards their current retirement plan are required to file this form.
How to fill out prior service purchase form?
To fill out the prior service purchase form, individuals should provide their personal information, detail the prior service they wish to purchase, attach any necessary documentation, and submit the form to the appropriate retirement office.
What is the purpose of prior service purchase form?
The purpose of the prior service purchase form is to enable employees to claim service credits for earlier employment, thereby enhancing their retirement benefits and calculating the pension amount.
What information must be reported on prior service purchase form?
The form must include personal identification details, specifics about the prior service (such as dates and type of work), and any supporting documentation that verifies the service time.
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