Browsing: Military service deposits

Q. Can I draw two different retirement pays for the same period of service? I served for three years active duty in the Army Active (1971 to 1974), one year in the Air Force Reserve. Retired from Air Force Reserve in April 1993. At age 60, I started drawing reserve retirement (21 years with 2,500 points). I’m 61 with 31 years creditable time for CSRS. Can I buy back my three years Army active duty and apply this to my CSRS even though I’m already using this three years for Reserve retirement purposes?

Q. I am 41 and a “gray area retiree from the Maryland Army National Guard. I am employed with the Postal Service (FERS) and have about 19 years of service (including five years active duty, which I already paid back). I also collect 30 percent disability from the Veterans Affairs Department. In planning my final retirement living, it seems if I retire at my minimum retirement age of 57, I should be immediately eligible for full annuities of the following, with no penalties or offsets: FERS basic annuity Social Security offset (until 62) TSP annuity (no IRS penalty) VA compensation…

Q. I am a FERS employee with 14 years service, age 53. Tired of the pay freeze and “no money for promotions” line. Also tired of doing the jobs of higher paid co-workers while they call in sick two to three days a week. If I resign, can I take my FERS and Thrift Savings Plan in one lump sum and walk away? I am also a military retiree and have my pension and Tricare health care plans from that, so that is not a concern. Understanding the tax hit, will I just receive what I contributed, or the fed matching,…

Q. As I am approximately two years from retirement, I just filed for and received my retirement estimate from my agency. I received no credit for my four years of military service, which I previously made a deposit for in 2001-02. I have copies of my leave and earnings statement showing this. I transferred agencies in 2002 (Immigration & Naturalization to Transportation Security Administration), shortly after completing deposit and never received any receipt from I&NS. My agency HR states they can’t help as they don’t have access to these records. They advised me to contact the Office of Personnel Management.…

Q. I know there is a military buyback program for people with FERS. I have tried twice in the past two years to obtain this information. I have not received any letter back from DFAS – Indianapolis Center Army Military Pay. I tried again a few weeks ago. Does anyone know if this department is still operational?

Q. Is my service computation date the total number of years that will be “creditable” to compute my retirement annuity/pension? A. It usually is, but not always. If you served in the military and were given annual leave accrual credit for that time, the SCD would be based on that. However, if you are a FERS employee, unless you made a deposit to get credit for that service, it wouldn’t be included in your retirement SCD.

Q. When my husband retired in 2000, we paid back his two years of military service with interest. We did this because he was asked if he thought he would file a claim under Social Security, which he did. Now that he is 64, we find out that he has to work 10 quarters before he can be eligible for Social Security. Can we get the money back from the Office of Personnel Management that we paid since he will not be able to collect his Social Security?

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