Q: I am retired from the Army and receive retired pay and disability pay. I am also a civilian employee under the Federal Employees Retirement System. When I am eligible to retire, will I be paid my military retired pay, disability pay, retirement pay as a civilian employee and also receive my Social Security? Would it be advantageous to sell back my military time to incorporate it into my civilian time under FERS? If I do sell back my military time, do I forfeit continuance of my military retired pay?
A: If you retire without making a deposit to the retirement fund and waiving receipt of your military retired pay, you would receive a FERS annuity based solely on your FERS service, your military retired pay, your disability pay, and a Social Security benefit based on all your Social Security-covered employment. If you do make a deposit for that time and waive your military retired pay, you would receive a FERS annuity based on your active duty and FERS service, your disability pay, and a Social Security benefit based on all your Social Security-covered employment.
Selling back military time
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I also have had the same question and am searching for an answer. What is the best way to figure the math on selling back military time to include for CS? Fairly simple to figure the military retirement piece and the FERS retirement piece separately. Has been extremely hard trying to figure out what the bottom line would be selling back time and having a FERS retirement pay that included both.
If any one has a proven methodology for doing that, please share it with us.