Q. Is there a cap on the amount of annual leave that can be bought back by the government at retirement? A. To the best of my knowledge, only the U.S. Postal Service has a limit on the number of hours of unused annual leave for which it will make a lump-sum payment.
Browsing: buyback
Q. I have three periods of military service for which I am required to pay a deposit under “Catch 62.” The first period, 1969 to 1972, I paid for when it came due in 1986. This bought me a period of about 2.6 years. Later I was mobilized for Desert Shield/Desert Storm in 1990 to 1991; and Bosnia in 1997; for an additional eight and seven months, respectively. I plan to work off the additional time by delaying my retirement for 15 months or more. When I discussed this plan with our HR office (SSA HQ) I was told that…
Q. Do my nine years of honorable Air Force active-duty time that I bought back count towards computing my FERS retirement date from the Postal Service or do they only count towards my retirement pay percentage? I thought when I bought my military time back, it counted towards my retirement eligibility date. A. Since you made a deposit for your active-duty service, it will be used in determining your length of civilian service, which will affect your annuity computation date and your annual leave category, and in your annuity computation when you retire.
Q. I am thinking about buying back my time on active duty, 22 years, to make a deposit so that I can retire early from the Foreign Service. If I do, will I lose any of my military retirement privileges. A. If you make a deposit for your active-duty service, just before you retire from your civilian job, you will also have to waive your military retired pay. Doing so will have no affect on any other entitlements you have based on your active-duty service.
Q: I’m a Civil Service Retirement System employee. Is there a time limit after I retire from my civilian job to buy back my military time and get annuity credit for it? A: To get credit for any period of active-duty military service in your annuity computation, you must complete the deposit before the final adjudication of your annuity by the Office of Personnel Management.
Q: I was employed as a stenographer/secretary at the FBI in New York City from February, 1967, through May, 1971, resigning to start a family. At the present time, I am a six year, seven month employee of the Township of Andover, in Newton, N.J., a municipality of the State of New Jersey. Is there a possibility that I could buy back my FBI employment time, to add to my New Jersey pension time? If you cannot provide an answer, would you direct me to the proper contact to find out this info? A: First, a redeposit of retirement contributions can only be made…
Q: I am sure that you have answered this question before — it seems so basic to me — but I could not find a comparable Q&A on your site. Here goes: I have 11 years, 2 months, 20 days of active Air Force service, no Guard or reserve (retired from Guard but I believe it’s irrelevant; no active time other than for training). I have been tentatively hired by DECA as a GS 4 (awaiting clearance paperwork). I don’t know anything about federal retirement plans, as I am not in one yet. How will the “buyback” of my time…
Q: I had to take leave/terminate from my government job in February 2001. Unfortunately, I accepted money and my time from Feb. 25, 1991, to Feb. 23, 2001, was lost. It has been rumored that we can now buy back time such as this. With a service computation date of November 1987 and a retirement date of October 2010, that would give me a total of 22 years, 11 months. I’m willing to buy this time back and would like to know what agency deals with this. A: If you return to work for the federal government, you can redeposit…
Q: I am currently making payments to buy back my military service time so that it can be counted toward my FERS retirement and want to know if I can now make a partial withdrawal to pay a Defense Finance and Accounting Services debt? I have been making payments toward a military deposit for more than four years and only have less than a year until I have finished paying the amount requested, but now am faced with a debt action for an erroneous payment that happened over three years ago. I understand I have alternative options — i.e. hearing, waiver…
Q: My wife was covered under CSRS and worked for seven years at the Veterans Affairs Department as a GS-4 ward clerk between 1982 and 1990 before having a break in service and then returning to federal employment under FERS (not CSRS-Offset, but that is another story). In her new position, she is in a 6c covered law enforcement job and she will soon be turning 50 with the requisite 20 years of 6c law enforcement coverage. When she left her job at the VA, she cashed out her retirement, and we now want to buy it back. I understand…