Q. I retired from the Army after 20 years. I am a GS-13 with 14 years. It will cost me $14,203.39 to buy back 20 years military time. (The calculations have been done.) I plan to retire at 62. If I buy back the 20 years, when will my military retirement check stop: immediately, or when I eventually retire from the government?
I am 56 years old. Will I be eligible for 14/40ths of what my Social Security will eventually be for each month until I turn 62?
A. You can wait until shortly before you retire to waive your military retired pay. To estimate the amount of your special retirement supplement, use the following formula: your Social Security benefit at age 62 x your total years of FERS service (rounded up to the next higher year) divided by 40.
