Q. I have been misinformed about the buyback program.
Before attending a military benefits/buyback briefing, I had been told that once I decided to buy back my military time, my monthly military retirement pension would immediately stop.
That is the only reason I did not buy it back sooner.
For clarification, if I buy back my 22 years of military service, will I continue to receive my monthly military retirement pension until I am eligible to retire from federal employment? And on the day I am eligible and retire from federal employment, am I required at that time to waive my military pension to have my military and civilian time recomputed to receive the combined total federal service time toward my final pension?
A. Yes, if you make a deposit to get credit for your active-duty military service, you could continue receiving your military retired pay until you retire from your civilian position. Shortly before you retire, you would need to notify your branch of service that you want to waive your military retired pay. If you did, that period of service would be included when determining your years of civilian service and used in the computation of your annuity.