Definitions for "Credited Service"
A year of credited service is earned if you work the minimum 1,000 hours in a calendar year, except in years where you have either entered the plan, terminated or rehired. In those years the hours requirement is prorated based on completed months. It also is referred to as accrued service. If you worked less than 1,000 hours in any calendar year, you earn partial credit, as follows: 0–499 hours No credit 500–599 hours ½-year credit 600–999 hours ¾-year credit 1,000 or more hours 1 year credit
The total time that you spent working that counts toward your benefit. Credited service is most often the number of years you worked for the company, up to the date of plan termination, or the date of plan freeze, whichever is earlier. It could be less for certain plans and for people who worked part-time.
The total years of participating service and prior service, not including any service that is credited under another retirement plan.
The amount of time that a member has worked for an ASRS employer and has contributed to the ASRS.