The term “picked up” contributions is an IRS term referring to those contributions that are made with before tax dollars.
At SURS those include:
- Payroll contributions received 1/1/1981 and after
- Optional service purchased with rollovers or installment contracts
Conversely, “previously taxed” contributions are those made with after tax dollars.
At SURS those include:
- Contributions received before 1/1/1981
- Any payments for optional service credit made with after tax dollars