[April 11, 2000]

Following is clarification on the UCRP buyback deadline of July 1, 2000.

The July 1, 2000 deadline applies to members who returned to active UCRP membership on or before July 1, 1997—(1) from an approved leave, or (2) after receiving a refund of UCRP accumulations for a previous period of service.

The firm deadline—established by The Regents—is the election deadline of July 1, 2000. The member's election form must be received at UC HR/Benefits in Oakland by that date. Since July 1 falls on a Saturday, the form must be received no later than Monday, July 3, 2000. The election, once submitted, is irrevocable.

Before the election
UC HR/Benefits requests that the member's Service Credit Buyback Information Request (UCRS 169) be received in Oakland at least 3 months in advance of the election deadline in order to allow time for the calculations and the member's review and final election. For the July 1 deadline, the request form should have been received by March 31, 2000.

Requests continue to be received, and the UC HR/Benefits staff will do its best to honor requests received this week, through Friday, April 14, 2000. If a request is received after this week, there is no guarantee that we will be able to perform the needed research and calculations and to return the election materials in time for the employee to make a considered decision. A buyback election, and the payment schedule, becomes final as soon as the election form is received in Oakland. There are no exceptions.

The three year window
A member has three years after returning to active UCRP membership to elect buyback for an eligible period. (For information about eligible periods, see The UCRP Buyback Booklet.)

If the date of return is after July 1, 1997, the election deadline is three years from the return. For example, a member who returned from leave on August 15, 1998 has until August 15, 2001 to elect buyback for the period of the leave.

For more information, see:

• Interested in Service Credit Buyback? Window Closing Soon!
• The UCRP Buyback Booklet

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