taken from the November 2002 AAUP AZ Advocate

Opportunity for Arizona Retirement Plan Participants

by Stan W Spackeen

Financial Directions LLC

Have you forfeited credited service from Arizona or any other state retirement system?

Have you worked for a non-profit educational organization that did not offer retirement benefits? Part time while attending school?

Have you worked at another non-profit healthcare organization?

Have you worked for other governmental agencies?

Have you been involved in Military Service?

This type of work experience may be eligible to be "bought back" and added to your credited service years within the Arizona State Retirement Plan. I have consulted with many of my clients regarding this opportunity and it is unequivocally one of the better investments they will ever make!

Your retirement benefit is based on three factors: 1) years of credited service 2) wage component 3) a multiplier. If you can increase any one of these components your annual retirement benefit increases. "Buying Back" credit may actually increase two of the components as the multiplier is now stepped up at 20, 25 and 30 years of service.

To find out if you are eligible contact your State Retirement office and request the necessary forms required documenting your work experience. Upon receipt of those forms, the State Retirement people will get back to you (could be a couple of months) indicating how many years you are able to buy back and what the cost will be. From there you have 30 days to respond and to identify the methodology of payment. Those payment options are: with an after tax payment, a payroll deduction commitment which is irrevocable, or with a qualified rollover.

I believe that this opportunity, if available to you, is unquestionably worth the time and effort made. I highly encourage you to investigate any and all possibilities on eligibility.

Stan W Spackeen

Financial Directions LLC

A Registered Investment Advisor

Securities offered through Triad Advisors, Inc. Member NASD/SIPC.