Q: I am a federal employee with 10 years active-duty time that I have almost finished buying back. I am also in the National Guard and I have just been offered a full-time Active Guard reserve position. Since I will leave federal service to return to active duty (Guard), can I get the money back that I have contributed to buying back my active-duty time? A: You can get a refund of your military deposit only if you: 1) resign from the government before you are eligible to retire and 2) receive a refund of all your contributions to the…
Q. Is the federal government offering any buyouts for the employees under the old retirement system? A. No, it isn’t, and under current law, it can’t. It can only offer buyouts to those who meet the qualification requirements, regardless of their retirement system.
Q. Do you think there will be a buyout for the carriers if there’s a move to five-day delivery? A. Making a prediction tied to something that might happen would be a foolish waste of time.
Q: Are Defense Department buyouts for fiscal 2010 forthcoming? If so, when? A: We haven’t heard anything.
Q: Do you think the Postal Service will offer another buyout anytime soon? I have 31 years, with military time. A: I haven’t heard anything that would suggest that the Postal Service plans to do that and, unfortunately, I can’t predict what it might do in the future.
Q: I recently retired from the Postal Service under the incentive/buyout offer. If I seek another government position, will I be required to pay back the buyout money I received? A: Yes. If you received a buyout and later accept a paying job with the federal government within 5 years of the date of the separation on which that buyout is based, including work under a personal services contract or other direct contract, you must repay the entire amount of the buyout to the agency that paid it to you before your first day of re-employment.
Q. The U.S. Postal Service has given employees retiring voluntarily on Oct. 31, 2009 an amount of $15,000. Will the first check of $10,000 have everything taken out for federal and state taxes, Medicare, Social Security, health benefits, etc? When would my first annuity check start? I am a Civil Service offset employee with 12 years under FERS. I had a total of 30 years of both civil service and FERS but I left and came back to the USPS in 1997 (7 years). I took out the money in the retirement fund and so lost 20 years credit to…