Browsing: Military service deposits

Q. I am planning to retire ASAP but am working out a few issues. I do not want the early retirement penalty (5/12 percent per month) to impact my retirement compensation so understanding how my military time rolls toward my retirement will dictate when I can retire. I will have 27 years of FERS service and four years of paid military time. I will have met my MRA of 57.6 yrs. Does my military credit count toward the 30 years required service time or does my military time only count toward my annuity computation? If it only counts toward the…

Q. At the end of my enlistment I will have 15 years active-duty service. Let’s say I switched to reserve component, landed a federal job under FERS, and made the deposit for my 15 years of active service. Would I still be eligible to retire from the reserves after five years (20 years total service)? Or will the deposit from active-duty time toward FERS render those years/points gone, in which case I’d still have to do 20 in the reserves? A. Making a deposit to get credit for your active-duty service would have no affect on your entitlement to reserve…

Q. I’m considering resigning later this year at 54 with 14 years civil service (MRA is 56 years 2 months). I have a 20-year military retirement (retired 2004) and am considering paying the military deposit (estimate $20,000 or so). I also get $660 VA disability (40 percent) that equates to an additional $7,920 per year that wouldn’t be taken from a civilian annuity like it currently is from my military retirement. If I resign at 54 on a deferred retirement with 34 years creditable service (20 military plus 14 civilian) and don’t start taking the annuity until 60 (when it…

Q. I retired from the Navy Reserve with 39 years (9 active duty) and received a regular retirement check (over 60 years). I have a 60 percent service connected disability and receive VA disability pay. I am in FERS and will soon retire with 20 years service (bought back the 9 AD years). Will I be allowed to keep my military retirement pay, disability pay and FERS retirement pay? Also, will there be any impact to my full Social Security annuity when I turn 66 and 10 months? A. Yes, you’ll be able to receive reserve retired pay and your…

Q. I am 37 and have been in the Navy 20 years. I have begun the hiring process with the U.S. Border Patrol. I am an E-8. Should I try and buy back my years in military, which should cost about $8,000? Can I defer receipt of military retirement until I retire from the Border Patrol? I am also curious about the amount of buyback. Is it based on my rate of E-8 or on the total amount I made? Due to my billet and frequent deployments, I made twice what the base pay might be. I spent a lot…

Q. I did 10 years active duty and just started a job as a GS position and applied to buy back my military time. I was thinking if I bought back the time, I’d only have to work 10 more as a civilian to get to the 20-year mark. My supervisor told me it doesn’t work that way and that buying back my military time was only to get more money in my annuity when I retire. So now I have to do 20 years as a civilian?

Q. I was medically retired from the Army in 1985, with permanent disability retirement at 40 percent. I’ve been with the U.S. Postal Service for 33 years now and I am currently 100 percent permanent and total from the VA. I bought back my military time (three years eight months) from the Post Office in 2012. I’ve changed my mind and I want to keep my military benefits. How do I cancel and get a refund for my military buyback?

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