4 Service Credit The most common form of service credit is service earned in a position covered by TRF/PERF Hybrid. The following are the types of available service credit; some with and some without cost. Creditable service is the amount of time that can be counted in the calculation of the benefits portion of your TRF Hybrid pension benefit. You earn 1 year of service credit for working 120 or more days in a fiscal year. A half year of service credit is earned for working between 60 and 119 days in a fiscal year. Service credit is measured by a fiscal year that runs from July 1 through June 30. Any time worked during a workday entitles you to a full day of service credit. You may not earn more than 1 year of service credit during a fiscal year. Service arising out of jury duty, sick leave, or worker’s compensation may be included. Holidays and weekends are not included. You receive pay for snow days, but you must make them up later. If you work more days in a month to make up for snow days, your last day at work will still be the last day you are working in the classroom. Any service credit granted to a member must comply with the laws in effect at the time of retirement. You may request a service credit analysis before you retire. This will allow the time needed to verify your service with your employer(s) and make corrections, if needed. After you retire, if you believe an error was made in computing your creditable service, you may request a re-examination of your benefit at any time. By law, (IC 5-10.4-5-17) you have up to 6 years after your first monthly pension benefit payment or final service credit determination to appeal a decision made during re- examination of your benefit. 4.1 Vested Status Under State law, vested status is defined as ten (10) or more years of creditable service or combined creditable and eligibility service under TRF/PERF Hybrid. If you have attained vested status, you will be entitled to a pension benefit when meeting the age and service requirements. You are entitled to full retirement pension benefits when you meet any of the following age and service requirements:  Age 65 with 10 years of creditable and/or eligibility service  Age 60 with 15 years of creditable and/or eligibility service  At least age 55 and the sum of the member’s age at retirement and their total years of creditable and eligibility service under TRF equal 85 or more (Rule of 85) You do not have to work for the same employer and the jobs do not have to be for 10 consecutive years to reach vested status. A total of 10 years in any combination of TRF/PERF Hybrid covered positions for which an employer makes contributions qualifies as creditable service for vesting purposes. NOTE: You are vested immediately for your contributions to your DC account. 4.2 General Service Credit Rules There are a few general rules on service credit. Each rule applies to only certain types of service credit. One-Seventh (1/7th) Rule This rule applies to you if you earned military and leave of absence service credit.  You may buy or earn 1 year of service for every six years of teaching. The amount depends on the type of leave. Teachers' Retirement Fund Hybrid Plan Member Page 14 of 47 Handbook Effective: 07/01/2024