If you are an active member of the retirement system, meet the Chapter 32, Section 1 definition of veteran and, for any reason, have not entered into an agreement with the retirement board to purchase your military service time, or, you have entered an agreement, but have not completed the purchase, please read this notice closely as there has been significant changes to veterans’ buybacks signed into law.
Passed by the Legislature and signed by Governor Healey on August 8, 2024, Chapter 178 of the Acts of 2024, commonly referred to as The HERO Act, removes the 180-day statutory deadline for purchasing military service. It institutes a deadline of within a year of vesting in the retirement system, effectively 11 years of creditable service. It also creates a one-time, one-year grace period for anyone who has not purchased their military service, giving them the opportunity to do so.
If you are a veteran and have already completed your military service purchase, you do not need to take any action.
In each following scenario, these parameters have not changed: You may purchase up to four years of your military service. The cost is 10% of your salary when you last became a member of a retirement system for each year of military service you want to purchase. (Unless you left the system and took a refund of your contributions, this will be your first salary when you entered public service). The Board sets the terms and conditions for the purchase, which could require a lump-sum payment or up to a five-year installment plan.
If you have NOT entered into an agreement, and you have completed more than 11 years of creditable service, you have a one-time grace period to do so until August 8, 2025. This date reflects one year after Governor Healey signed the HERO Act. The Application for Potential Veterans’ Benefits is available at our Office or download the form from PERAC at https://www.mass.gov/doc/veterans-buyback-form-0/download
If you have NOT entered into an agreement, and you have completed less than 11 years of creditable service, you have until the later of the two following events to do so: you complete your 11th year of creditable service or August 8, 2025, which reflects one year after the effective date of the HERO Act. The Application for Potential Veterans’ Benefits is available at our Office or download the form from PERAC at https://www.mass.gov/doc/veterans-buyback-form-0/download
If you have already entered into an agreement, but have not completed the purchase, you have until the later of the two following events to come to terms with the retirement board on the purchase: you complete your 11th year of creditable service or August 8, 2025, which reflects one year after the effective date of the HERO Act. These terms could be a payment plan or a lump sum payment. In either case, some type of payment will be required either by the end of your 11th year of creditable service or August 8, 2025, whichever is later.
If you have any questions, please contact the retirement board.
