FERS annuity


Q. I am a dual status military technician. I was hired as a GS-13 in October 2009. I began an active-duty military tour in January 2012 and will return to GS-13 in July. Provided I buy back the time while on leave without pay for military duty on this tour (as well as buy back five years of active-duty time served prior to GS-13 employment), will I be eligible for any GS retirement benefits if I leave the GS-13 job in January 2015? I have contributed 10 percent into my civilian Thrift Savings Plan and received a 5 percent employer match while on GS status.

If so, what would they be based on (five years and three months of civil service + five years of prior active-duty service = 10 years and one month of credit?) When would I be eligible to receive it?

A. Your annuity would be based on your actual service and service for which you made a deposit. If you left with 10+ years of service, you could apply for a deferred annuity in 2031, when you reach your minimum retirement age of 57. That MRA+10 annuity would be reduced by 5 percent for every year you were under age 62. You could, of course, wait until you reach age 62 in 2036 and receive an unreduced annuity. In either case, your annuity would be computed using the following formula: .01 x your highest three consecutive years of average basic pay x 10 years and one month of service.


About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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