Q. I recently entered a federal job after separating from the Air Force. If I buy back my three years of active-duty time, do I only need to complete two years of actual federal service to reach the five-year minimum for an immediate retirement at age 62? I understand that this retirement benefit would only be 5 percent of my high-3 pay.
Browsing: Military service deposits
Q. I recently separated from the Navy after 11 years of active duty. Federal retirement at the Bureau of Prisons is 25 years or 20 years after age 50, I believe. How does this work? Does my 11 years go toward the 25 years and allow me to retire in 14 years from my start date to equal 25 years?
Q. I will have 21 years as a federal law enforcement officer when I retire. I will be 56 years old. I also have 15 years of military time that I bought back. Do the 15 years of military time also get calculated into my Social Security supplement or do I only get credit for the 21 years of federal LEO time?
Q. I retired from the Air National Guard with 20 years (16 FERS and four active-duty buyback). Under MRA+10, can I apply for my annuity at my minimum retirement age (56 years, four months)? I read that I will be penalized 5 percent for every year I am under 62. Doing the math, it appears that it would take roughly 18 years to make up the difference in retirement pay if I waited until age 62. In other words, am I better off taking a 25 percent penalty at 57 rather than drawing at 60 or 62?
Q. I am retiring at the end of June at age 62 with 25 years under FERS. I also retired in 2003 from the Army Reserve after 22 years. This includes six months of active duty for Operation Desert Storm. I repaid the required amount to receive credit for this six months, which is included in my 25 years. I know I do not get credit for my weekend drills. But can the two-week annual trainings that I took each year (for about 20 years, amounting to about 40 weeks of full-time active duty for training in the Army Reserve)…
Q. I have three years and four months time in civil service and under FERS. I will be 62 when I hit five years under FERS and eligible for pension. If I take a three-year term position at this time, will this count to make my five-year vesting, and will I be able to retire under the FERS plan the same as if I worked three more years in my current position? I have bought back my military time, which is an additional four years.
Q. I am 63 and retired under CSRS. I have four years military time included in my creditable service, have not paid back this time and do not qualify for Social Security. I will, however, qualify for Social Security in about two years. It is my understanding that there is a Social Security check done at age 62, but will the Office of Personnel Management check in later years or be notified when I do qualify? If not, is the “onetime” check at age 62 in law or is it an OPM process that can be easily changed?
Q. I have 20 years of military service and will have 10 years three months of federal service when I am scheduled to return from overseas. I will be 52½. I want to submit for early retirement with 30 years’ combined service. Should I buy back my military time or receive dual retirement if my request for early retirement is approved?
Q. I am a new civil employee. I received an early-out due to force reduction. I am a 50 percent disability veteran I paid the severance pay to the Veterans Affairs Department before I could receive compensation. Now I want buy back my military time toward federal retirement. Is the severance pay included in my total earnings during my active duty? If so, is severance pay deducted from the amount to buy back time, since it was paid to the VA?
Q. I am considering retirement soon but would like to know if paying back my military time is a wise decision. I am 60 years old and will have 35 years civil service time. I do not have enough quarters to draw Social Security and never plan to. Will my annuity be based just on those 35 years, or will it be based on my actual service computation date, which would add four years?