Q. I served in the Air Force in active duty for almost five years before moving to CSRS. By the time I retire, I will have 40+ years under CSRS without including my active-duty military time (It would be 45+ years total federal service if I decide to by back the time). Will I be penalized if I do not buy back my five yrs active-duty time. In other words, will my retirement annuity be reduced?
Browsing: Military service deposits
Q. I retired from the Navy with 20 years of active duty and receive both military retirement pay and Veterans Affairs Department disability pay. For the past four years, I have been working for the federal government under FERS. I want to make a deposit for my years of active-duty service and waive my military retired pay when I retire. When I make the deposit, will it stop my military pay and VA disability pay?
Q. What is the current interest rate that the Department of Treasury is charging on military buybacks?
Q. My husband was still employed by civil service aboard New River Air Station, N.C., when he passed away. I was told by human resources in Norfolk, Va., that I could buy into survivor annuity (FERS). My husband was short three years of retirement, and I can make a deposit of $12,522.36 to the Defense Finance and Accounting Service to qualify for survivor annuity through FERS, and I would receive $783 a month. DFAS has calculated what he earned during his military career. I am receiving $1,215 a month in Dependency and Indemnity Compensation. I am confused because the Norfolk…
Q. I am active and have 15 years on active duty with four months in the Reserve. I’m looking at a GS job and want to know if I can buy into the last five years of my military retirement?
Q. I retired from the Navy in 2006 after 20 years of military service. I am employed as a civilian mariner in Military Sealift Command as a GS-11. After I reach age 56, can I retire and get my retirement from the federal government and still received my military retirement? I was born in 1965 and will have 13 years of service when I reach age 56.
Q. I was medically retired from active-duty Air Force in 2009. I received a retirement check for approximately seven months, and then I was no longer eligible as I was only able to receive my Veterans Affairs Department compensation. I am a federal employee. Am I eligible to buy back my military time? Would that time be counted toward my leave equation? If I am eligible, what actions do I need to take?
Q. I am a federal employee with 33 years and five months of cumulative service — 12 years and four months of that service is attributable to active-duty military time that I had purchased back during my first few years of civilian service. When computing my FERS retirement benefit, does the government consider that 12 years and four months for purposes of calculating the Social Security Offset (if I retire prior to age 62)? No one in my agency’s HR can confirm this.
Q. I am a 20-year federal employee with 16 years of active-duty service. I made a huge error in not making the deposit within the first two interest-free years of federal service. I doubt I can afford the now very large sum which will be due (just received my Estimated Earnings from Defense Finance and Accounting Services) and will need to enact payroll deduction. 1. Will interest continue to accrue during the period I am making payments? 2. What impact will there be (if any) on my ability to draw Social Security if I make a military deposit?
Q. I served on active duty in the Marine Corps for 16 years and seven months. I also have enough creditable Reserve time to have earned Reserve retirement upon my 60th birthday in five years. I have worked for the Army Corps of Engineers for more than eight years now and was recently awarded my pin for 25 years of federal service. The date on my 25-year certificate is Feb. 22, 2013, and my service computation date for leave is July 30, 1987. My pay entry base date for the Marine Corps is Sept. 22, 1977. My active duty base…