Purchasing service credit will increase your pension at retirement and may allow you to retire sooner. The Chicago Teachers’ Pension Fund offers several opportunities for purchasing additional service credit. Most leaves of absence qualify for the purchase of service credit, including:

• employer-approved leaves, including time off for maternity/paternity, study, and illness
• time lost due to the economic layoff during the 1975-1976 school year.

A leave of absence must have been unpaid and approved by your employer. The maximum service credit you can purchase for leave of absence periods is 36 months.

 

Back to the Active Members page