Upon reemployment, credit for past service in the Omaha Public Schools can be purchased. In accordance with State statute, the purchase must be fully completed within five years of the date of reemployment.
All accumulated contributions which were refunded at the time of resignation may be repaid to the system. Interest is charged on that amount for the period the money was out of the retirement system. This done, credit is reinstated for the past service.
To get an estimate of the cost to "Buy-Back" your refunded OPS retirement service you will need to enter your salary for each school year, which you contributed to the Retirement System and got refunded.
