Buying back time for military service

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Q. I am trying to get information regarding the buyback program. I served in the military for four years and got medically retired. I receive compensation from Veterans Affairs, so I thought that it would be a good idea to buy back my time. Could you tell me if this buyback is beneficial for a FERS employee?

A. The simple answer is that you would have four more years of creditable service and, at retirement, your annuity would be 4 percent higher.

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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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