The UC Retirement Plan recently announced changes in the rules governing service credit buybacks, as described in the Feb. 12 issue of Berkeleyan.

Changes in rules governing buybacks in two special cases are described below:

Leaves of Absence Less Than Four Weeks in Duration

If you have taken an approved leave without pay for a period less than four consecutive weeks and are interested in establishing UC Retirement Plan service credit for the leave, you should act quickly.

Rules are changing soon -- and leaves without pay that are shorter than four weeks will no longer be eligible for buyback.

To do a buyback, there are several steps involved. Your request form must arrive at UC Benefits in Oakland by March 31, 1997, and your election form by June 30, 1997.

To find out if buyback is a viable option for you, read the booklet "Service Credit Buyback for Approved Leaves."

It has full information as well as the request form and is available from your department benefits counselor or from bencom on the world wide web http://www.ucop.edu/bencom.

The buyback option is available only to active UCRP members.

Leaves of Absence That Begin July 1, 1997, or Later

New rules apply if you want to establish UC Retirement Plan service credit for an approved leave of absence that begins July 1, 1997, or later. Under the new rules for service credit buyback:

The maximum leave of absence you can establish is two years.

When you submit your buyback request form, you will be required to certify that you don't already have service credit with another publicly funded defined benefit plan for the same period. This applies to federal and California state plans -- including FERS, PERS, STRS, and any city or county system in California.

In addition, under a new three-year window, you will have three years from the date you return to work to elect buyback.

For example, if you return July 1, 1998, your deadline will be June 30, 2001.

For more information, refer to the booklet "Service Credit Buyback for Approved Leaves," available from your department benefits counselor or from the internet on bencom at http://www.ucop.edu/bencom.