Q. I served five years and six months active duty in the Air Force from January 1989 to July 1994. In 1996, I joined the Air National Guard. I am in the Air Guard and have 24 years of service with eight years’ active-duty time. In 1999, I became a full-time federal law enforcement officer. In seven years, I will be 50 and have 21 years’ covered federal law enforcement. If I buy back my military time to get additional federal retirement, will I still be able to receive my military retirement at 60? Or am I better off not…
Browsing: Military service deposits
Q. Is there a minimum probation or vesting period required to be eligible to participate in FERS? Suppose a person worked for the federal government for one year, had nine years of military service and participated in the military buyback? Would this be considered 10 years of creditable service? Would the person be eligible for a retirement annuity?
Q. I am an FERS GS with four years until I get my 20 under 6(c) law enforcement officer and a year and half after that until mandatory retirement. I have been offered a 6(c) job overseas — how is the high-3 calculated? Is it on the base level GS schedule (plus LEAP) I actually earn, or is it based on a modified amount of what I would have earned in DC — which is how the overseas postings on Foreign Service retirement seems to work? I am pretty sure all the COLA, post allowances and danger pays don’t calculate…
Q. I would like to retire at between 56 and 58 with deferment until I reach age 60 and can draw my reserve retirement. I am a gray area reservist with 20 creditable years of total service. This includes four years and two months of active duty that I bought back after I accepted a FERS position. I have been with FERS for 20 years, including buyback. Will I still be able to draw both retirements since my military retirement is a reserve retirement? In 2017, I will have 25 years, and I would like to retire no later than…
Q. I was ignorant about buying back military time and was given some incorrect information about it. I now realize I should have bought it back. I have six years of active-duty military. I retired Dec. 28. Is there any grace period that I could still buy back my six military years?
Q. Having retired in 1995 with 20 years of active-duty service in the Air Force with a 40 percent VA work-connected disability, I’m a FERS employee as of April 2000, and I intend to retire in January 2018. I’m considering buying back my military time; once my deposit has been paid in full, and I retire from FERS with a combined 37 years of creditable service, will I keep my monthly VA amount? Lastly, while I’d be forgoing my AF pension, will other privileges remain intact?
Q. I have 24 years of reserve military service (Army, not National Guard). I have not retired. I have never been deployed, nor have I been activated for more than 90 consecutive days. I work for the Department of Veterans Affairs, and upon hire, I was told by human resources that there is a formula to determine how much reserve time I can buy back. The representative said it would be either 4 to 1 or 6 to 1 (every 4/6 years reserves will equal 1 year of buyback-eligible time). I transferred stations and went to my current HR and…
Q. I’m in FERS and have bought back my 10 years’ active-duty military time from Army and Marine Corps service. I have 26 years’ reserve time and retired from reserve service in 2009. I’m 50 and won’t start collecting reserve retirement until I am 60. Will I have to waive my reserve retirement if I retire from civilian service before age 60 or once I retire from federal civil service?
Q. I will be retiring from civil service under CSRS with 40 years of service. I will also be drawing my reserve retirement next year when I turn 60. I have three years and nine months of unpaid military service, and it would cost approximately $26,000 to buy back the service. I know when I turn 62, the Social Security windfall elimination provision will reduce my Social Security annuity. I have less than 20 years of significant earnings. I’m wondering if it is worth paying the $26,000 to buy back the three years and nine months.
Q. I made a lump-sum military FERS pension buyback as a new Defense Department civilian employee. Is there any tax filing implication or deduction for this?