Q: I’m retired military and am making a deposit to get credit for my 20 years of active duty service. I’ve been told that at the same time I make the deposit I also have to waive my military retired pay. Is that correct? I thought I could wait to waive my retired pay until I retired.
A: According to OPM, an employee doesn’t have to waive his or her military retired pay at the time he makes a deposit. Instead, he or she “must send the waiver request directly to the Defense Finance and Accounting Office at least 90 days but not later than 60 days before his or her retirement [emphasis added].” Click here and scroll down to Section 22A.1.2, which applies to both CSRS and FERS.