Q. I am retired Army with 22 years and nine months being paid my monthly retirement check. I retired in May 2011. I started as a GS FERS employee in February 2013. I am in a target GS 12 position, which basically means that I will be a GS 12 in February 2017. I did the DFAS Payback estimator for military time and it stated that I would owe about $18,000. My monthly retirement check right now is about $2,200 a month. I know that I will have to waive that once I retire from civilian service in order to…
Browsing: Military service deposits
Q. I am a federal employee with 21 years military service. I receive military retirement pay and a separate disability from VA. I am considering retiring in five years. If I buy my military time back now, can I keep receiving my military retirement until I retire from the federal government? Do I still receive my VA pay after federal retirement? A. The answer to both questions is yes.
Q. Is it possible to buy back military service credit even if I am not currently employed by the government? I may at some future date return to federal service, but not for several more years. My concern is that I would like to purchase my military service credit before I retire from the Army Reserve (one to two more years). My understanding is that once I retire from military service, I am no longer eligible to purchase military service credit. If it is possible to do this, who would I contact to begin the process? I was a FERS-covered…
Q. I completed nine years and 10 months of active military service. If I buy back five years of service at county government level (max allowed at county level), will I be able to buy back the remaining four years and 10 months of active service based on acquiring a federal job after county retirement?
Q. I have three periods of LWOP due to military deployments over the past 11 years. I am in the process of buying back my time. I have been told that my service deposit should be calculated at a lesser rate, not the standard 3 percent, due to me being a federal employee. I cannot find information regarding the lesser percentage. Can you clarify this issue and provide a reference?
Q. I served eight years in the Navy Reserve and was honorably discharged. How do those years count toward retirement if I become employed by a federal agency? A. Only time where you were called to active duty in the service of the U.S. would be creditable, and then only if you made a deposit for that time.
Q. I am trying to get information regarding the buyback program. I served in the military for four years and got medically retired. I receive compensation from Veterans Affairs, so I thought that it would be a good idea to buy back my time. Could you tell me if this buyback is beneficial for a FERS employee?
Q. I have seen several posts and info on waiving military retirement pay when buying back military time; however, the timing is not clear. When does the military retirement pay need to stop — at the time of deposit payment(s) or at the time of the actual FERS retirement date? I am currently receiving military retirement pay and working for the federal government; I am considering buying back time to consolidate into FERS retirement.
Q. I am a carrier with the USPS and recently paid back 14 years of active-duty military service toward my FERS retirement. I will be eligible for a Guard/reservist retirement at age 60. If I retire at age 62 from FERS and am applying the 14 years I bought back toward my annuity computation at that time, does it mean I have to waive my military retirement I will have been receiving since age 60? If so, to get two retirements I would only be using my Postal Service time for computation. Did I waste my time buying back the…
Q. I am a federal employee with the VAMC. My appointment is Excepted without time limit. I am currently a GS-8 supervisor with one year in my current position. I have been with the VA since August 2010. I also bought back my military time (4 years). My Service Comp Date is 07/2006. My husband was put on orders to Ft. Leavenworth for school from 06/2014-07/2015. My question is: If I have a break in service where I do not work for the federal government will I: 1) lose my earned years toward retirement? 2) will I lose my earned…