Q. I would like to buy back my military time to use toward my retirement. I have four years of active duty. Is this enough?
Browsing: Military service deposits
Q. I have three years of active-duty time while in the Army Reserve and I am in the process of having the Office of Personnel Management and Defense Finance and Accounting Services verify that time for retirement purpose. I became employed as a DA civilian in June 2005. My plan is to buy back the three years of active-duty time and have that time apply toward my civilian retirement. When I reach age 60, I am eligible to draw my Army Reserve retirement pay (based on my total points). When I retire as a DA civilian, will I lose my…
Q. I am 59, turning 60 in December. I have eight years and one mo of credited military time (I just bought back my retirement) and have almost three years as a civilian employee. When would I reach a point where I could expect a minimum retirement?
Q. I have 15 years of active-duty time and seven years in the National Guard. I will receive a reserve pension as an officer at age 60. I currently work for the federal government. If I buy back the 15 years of active duty and use it for my federal civilian retirement, would I have to waive my military reserve retirement?
Q. I am retired from the Army after 22 years and have worked as a federal employee for 13 years under FERS. Assuming I buy back my time, it is my understanding that I will have 35 years of total service. I have received the buyback calculation from my human resources department. Is it correct to assume that once I waive my military pension (which was 50 percent of my base pay x the number of years in service) my total retired pension will be based on 1 percent of my high-3 x 35 years service? And am I also…
Q. I served eight years and five months in the Army. I left on a service-connected disability with $22,000 in severance pay, which, over the years, has been paid back. I have been working as a temporary GS-13, Step 1, for seven months and I just received an offer for a permanent GS-12, Step 7. I wanted to get an idea as to what the cost might be for me to buy back my military service. They gave full credit for service when I started as a GS-13 (service computation date Sept. 22, 2004).
Q. What would my retirement benefit percentage be if I retire at 20 years as a law enforcement officer but I am only 43? Four years of military bought back. Started in the Federal Bureau of Prisons at age 22 in 1993. Will have 20 years on Sept. 19 and will turn 43 a few days later. Served in the Army from age 18 to 22, 1989-1993. Can I do this? Presumably with a decreased benefit.
Q. I’m a current federal employee who was on active duty in the Navy for nine years. How much do I have to pay to get credit for that time?
Q. I am a FERS employee considering retirement after 22 years of military service and 24 years of federal civilian employment. I will be 65 or older at the time of retirement. Are there any rules limiting for whom you may choose to work after retirement? Specifically, are you disallowed from working for the government of another country directly as an employee or in a contract relationship?
Q. Is a term employee eligible for military buyback and can pay for creditable service?