Browsing: credit

Extra credit for intel?

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Q. I understand that if one works for the intelligence community in an overseas assignment, one receives extra credit toward the number of years worked. In CSRS, it is 0.5 percent for each of the first five years and then 0.25 percent for the next five years. Where can I find this regulation such that I can make sure I receive this when I retire, since I am no longer in the intelligence community?

Military buyback

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Q. I retired in 2003 with 30 years of active Army service. I have been drawing full military retirement pay since then. I am now a GS employee with seven years of federal service. Can I still buy back my military time and combine the two for a federal retirement?

Military buyback, bonus and taxes

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Q. I am interested about buying back my military time. However, I received a separation bonus from the military when I left. How is the buyback calculated in addition to my time in service? (Is it considered normal income?)

Leave without pay vs. LWOP-US

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Q. I am a dual status technician GS employee in the Air National Guard. I’m trying to figure out if a three-month activation on Title 10 active duty for which I go leave without pay from my technician job will require me to make a military deposit to credit that tour after completion? Does such a short tour fall under the LWOP six-month rule and therefore doesn’t require any payment? Our agency has been calculating deposits to cover less than six-month tours in the past, but I’m curious if that’s necessary. A. Your agency is correct. You won’t be taking…

Early retirement, unused sick leave and SRS

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Q. I am 50-year-old FERS employee with 28 years of service. If I am offered an early-out and take it, what would happen to my 578 hours of sick leave? Would I still be entitled to get credit for my unused sick leave? Also, would I be eligible for special retirement supplement? A. If you retire before Jan. 1, 2014, you’ll only get half credit for your unused sick leave in the computation of your annuity. If you retire on or after Jan. 1, you’ll get full credit for it. As for the special retirement supplement, you’ll be entitled to…

Buying back retirement credits

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Q. I worked for the Postal Service from late 1979 until about 1991. I had a lot of personal and work-related problems and was also given a letter of termination. I decided to quit. I also tried to pursue a disability, but I dropped that because of stress and depression. I withdrew my retirement to pay an accumulation of four months of bills and rent that I was behind in. I vaguely recall reading that there was a buyback of retirement. Is this true? I am applying for Social Security benefits. I am only 58, but, due to health concerns,…

Sick leave limits

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Q. Is there a maximum amount of sick leave that can be applied toward retirement? A. There is no limit if you are covered by CSRS. If you are covered by FERS, you’ll only get half credit unless you retire after Dec. 31.

Rehire, job loss and annuity

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Q. I had 24.9 years of government civil service with the Navy. We were BRACed, and I retired. Then I got hired as a contractor for the government for less than a year. Now I work for the Air Force at a decrease in pay and grade. I may lose my job again because of the budget cuts in the government. How will all this affect my annuity, which I’m still receiving, if I lose this job? A. If you received both your annuity and the unreduced salary of your new position, you wouldn’t receive any credit for that period…

Retirement contributions and taxes

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Q. I am a recently retired CSRS employee. I note a huge inequity concerning my CSRS retirement contributions from the federal retirement benefits booklet the Office of Personnel Management sent me. I am told that I have a retirement contribution credit of $164,836 after-tax dollars. From this amount, I will get 310 equal monthly payments of $531.73 that will be a tax-exempt portion of my total monthly annuity. However, I am told once I receive gross monthly retirement benefits that exceed my contributions (tax exempt and taxed portion), there are no more contribution credits in my account, and no lump-sum…

Service computation date

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Q. My husband entered military service June 14, 1988, and has 24 years and 23 days of active-duty service, according to his DD 214. He retired as of Jan. 1, 2012. He worked as a Defense Department civilian from May 14, 2012, to Aug. 7, 2012. How much time does he get added to his service computation date for his 24 years of military service? A. He won’t receive any credit toward his service computation date unless he makes a deposit to the civilian retirement system. The deposit would be a small percentage of his basic pay while on active…

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