Making payments to reestablish service credit is called buyback. Service credit buyback also counts toward UCRP vesting and eligiblity for preretirement survivor income. For more information about service credit and how it affects your UCRP benefits, see the appropriate Summary Plan Description . Buyback will increase retirement income, lump sum cashout, and post-retirement survivor income unless the benefit exceeds the Plan maximum or IRC maximum. See the Summary Plan Description .
Interest is charged from the date of the refund to the date payment is completed.
For more information, see your Benefits Representative or the appropriate Summary Plan Description . If you made no contributions to UCRP during the entire period of your previous employmentand therefore, received no refund of UCRP accumulationsno payment is required. If your previous UCRP membership was under Tier Two, you made no contributions to UCRP, and no payment is required.