Q. In May, I will have 20 years under FERS with 10 years of military service included. I have bought back my military time. Will I be eligible for the special retirement supplement? A. With 30 years of service, you could retire at your minimum retirement age. MRAs range from 55 to 57 depending on your year of birth. If you retire on an immediate annuity before age 62, you’d be entitled to the special retirement supplement. However, the SRS would be based solely on your years of actual FERS service. Active-duty service for which you’ve made a deposit wouldn’t…
Browsing: military buyback
Q. I am a federal firefighter and a FERS employee. In 2022, I will have 21 years of creditable service and four years of bought-back active military time and be 48 years old. 1. Will I be able to retire under the provisions of 25 years of service at any age? 2. Will I receive the special category retirement percentages (1.7 x high-3 x creditable service, etc.)? 3. Will I receive the special retirement supplement until 62? 4. Will I not be able to withdraw any Thrift Savings Plan annuities until 62? A. Reg: 1. No, you won’t be able…
Q. I am a Navy reservist anticipating a civilian federal job offer soon. 1. How much will the active duty buy-in be for 16 years, 10 months of active duty, and where can I find a calculator? 2. What is the minimum number of civil service years I need to complete for a retirement? (I am age 52). 3. What is my minimum retirement age? A. The first thing you need to do is complete OPM Form RI 20-97, Estimated Earnings During Military Service, and mail it to your military finance center with a copy of your DD 214, Report…
Q. I started at a federal agency in June 2010 as a GS-14. I bought back my military time (10 years). I was recalled to active duty in the Army in March 2011. I was on active duty, and in a leave-without-pay status, until March 2012. I returned to my agency after completing my service. I may take a GS-12 position closer to home. I’m close to retirement age. If I switch to GS-12 in July, would my high-3 be a mix of GS-14 and GS-12? If I switch to GS-12 in January 2015, would my high-3 be as a…
Q. I was active-duty Navy (1980-84), then active Coast Guard (1991-2000). I received a tentative offer for employment with Army a few weeks ago (I’ve been a contractor since 2000). All required documents are submitted. Now I wait. How do I buy my 13 years active duty into FERS? Can I use my existing 401(k) to pay this? How much would it cost me? I also found out that, as of Jan. 1, the deduction for retirement went up to 3.1 percent. I guess a tentative offer before Dec. 31 doesn’t count for hired, so my pay is decreased. Adding…
Q. I would like to retire this year. I will be 56 in September with 34 years of creditable service — 28 under FERS and six years of military time that I bought back. Will I be eligible for the special retirement supplement, along with a FERS retirement? Or will I have to work for two more years under FERS to get the SRS? A. Because you will have reached your minimum retirement age, you’ll be entitled to receive the special retirement supplement when you retire. However, the SRS will be based solely on the years you were covered by…
Q. I was hired in 1993 by the federal government under FERS. I made a military deposit for more than 10 years I served in the Army. I then joined the National Guard in 1995. I then transferred to the Army Reserve in 2000. In 2002, I was mobilized for 12 months (title 10) for Operation Noble Eagle. I returned to work. Then, in November 2004, I was mobilized again (title 10) for more than four years, I returned to work and made a deposit on that time. Then, in September 2009, I was mobilized again (title 10), and then…
Q. I am looking at a job with the USPS. I have 10 years of active-duty service in the Air Force and three or four good years in the Reserve. I never reached 20 years to receive military retirement. How do these years in military service apply toward retirement and benefits if I get a job with the USPS? Do I have to buy back these years if I never received retirement, and how does that work? Then how long would I need the USPS job to gain retirement from the USPS? A. If you worked for the federal government,…
Q. I am 50 and have 8.5 years of active military service (covered on DD-214) and 179 days of consecutive active-duty time as a reservist (no DD-214). I have approximately 3.5 years of competitive, permanent career federal civil service time but am no longer a civil service employee (resignation, no negative reasons). I do not count the 179 days of active reserve duty in my retirement calculations. I have not done the military buyback yet for my 8.5 years’ credited military service. If I land another permanent, career full-time federal civil service job and buy back my 8.5 years, would…
Q. I served 9.5 years in the Air Force and just short of five years for the FAA under CSRS. When I left the FAA in late 1987, because of a misunderstanding of how CSRS worked, I thought I had to withdraw my contributions to CSRS because I had fewer than five years. Counting most of my Air Force time, I have 39 years of substantial contributions to Social Security. I returned to government employment two years ago and am considered CSRS Offset. Since I plan to retire in four years, I am trying to determine my best option regarding…