Ultimately, the amount you receive from your SPTRFA pension is largely dependent on two primary factors:
1) your final five years of salary and 2) your years of service. In situations where a strike lasts for an extended period, it could impact both of these factors and potentially affect a lifetime pension benefit, if a member is within five years of retiring. To address strike situations like this, Minnesota law provides members with the ability to restore lost service by paying both the applicable employee and employer pension contributions to SPTRFA.
We are grateful that the duration of the recent strike was brief. In the end, it is our understanding that our members were officially out for only three days. Given the short duration, it is highly unlikely that there was any meaningful impact on our member’s lifetime pension benefits. As a result, it is doubtful that the cost of purchasing service would provide any significant benefit.
We understand that you may have questions concerning this topic. Click here to review examples of purchasing service due to a strike or view the image below.
Our member service representatives are also available to answer your questions online at info @ sptrfa.org.