Q. I retired Aug. 31 after 30 years as a mailhandler. Would it benefit me now to buy back my military time? I have the information I need and I am ready to put the check in the mail to buy it back. I just can’t find the info on how long I have after retirement to buy it back. Will it benefit me after I have already retired under the mailhandler early-out? I am 57, and retired under FERS. A. You’re too late. Only employees can make a deposit to get credit for their active-duty service.
Browsing: military buyback
Q. I am looking into my retirement options. I have 28 years as a FERS employee. I was also in VISTA from 1978 to 1979. I would like to know what I need to do for that year to be counted as creditable service. I have spent the last two years trying to get this information from my human resources department and other retirement counselors. Everyone is familiar with buying back military time, but no one appears to know the specifics for VISTA. Can you help? A. That’s shameful. All those folks needed to do was consult the Office of…
Q. I am a VA employee with 31 years of VA service and three years in the Marine Corps. I am 60. If I qualify for a FERS MRA+30 retirement (which I believe I do), would it make a significant difference in the monthly SS portion of my benefits if I bought back my three years of military time before I actually retired? A. Making a deposit for that time would increase the amount of your annuity; however, it would not affect your special retirement supplement or your actual Social Security benefit.
Q. I am 55 and was hired Dec. 29, 1984, under CSRS and forced into FERS when it was implemented. I have since paid a deposit for four years of military service, and according to my SF-50, my service computation date is Dec. 29, 1981. I want to retire Dec. 29 with 32 years. With 28 years of federal service and 4 years of deposit paid military time, for a total of 32 years, will I be eligible for the FERS special retirement supplement? Or will I have to complete two more years of FERS to be eligible for the…
Q. I am an activated reservist who has been on military leave without pay from my civilian job as a federal firefighter for four years. I have two questions, one regarding my retirement and the second concerning leave earned on MLWOP. I was hired at age 36 (in 2006) and under normal conditions should be able to retire after 20 years of service at 56 and immediately draw my full retirement (without penalty). Will my four years of activated reserve time be considered part of those 20 years? That is, will I still be able to retire at 20 years…
Q. In March 2012, I received a one-time OWCP award for a 1996 on-the-job traumatic injury suffered with the post office. I had put in for this award more than once many years earlier and had been permanently stationary for years before resigning from the post office in April 2011. At 58, I am retired from the post office with 15 years. I am also a Navy veteran of 15 years, time I failed to buy back before retiring from the post office. Beside the one-time OWCP award, I have not received any other OWCP benefits since leaving the post…
Q. I am a FERS employee considering buying back my service time. I retired after 23 years in the Army. I’m 49 years old and have five years of federal time as of 2013. Would it be in my best interest to buy back my military time and put it toward federal retirement? What would be the impact? A. Here’s the upside. If you make a deposit to get credit for your active-duty service, you’d have 28 years of creditable service. If you retired at your minimum retirement age (56), you’d have 35 years of service and your annuity would…
Q. I retired from the Coast Guard with 20 years of service. I have not bought any time for retirement. I know that if I buy back those 20 years, I will have 30 years to count toward civilian retirement. If I do buy it back now, what happens to my Coast Guard retirement check if I keep working for the government? I know it will stop once I retire, but what happens if I keep working? A. Regardless of when you make your deposit, you won’t have to waive your military retired pay until you retire from your civilian…
Q. I plan to retire at the end of 2013. This includes two years’ Navy time, which I have paid back some years ago. My service computation date is April 1, 1974. I have a sick leave balance of 2,700 hours. My work schedule is nine-hour days Monday — Thursday and four hours on Friday. How much credit will I earn for my unused sick leave? How will not working a standard eight-hour day affect the sick leave credit calculation? A. Your nonstandard work schedule has nothing to do with how your sick leave will be credited. You’ll get one…
Q. I have six years in the Navy. I understand I can pay back/down those years for maximum retirement benefit. I’m 48 years old, have no savings and started this job to get on with planning for the future. I am a GS-7, step 1. I’m planning on contributing at least 5 percent a month of my pay, and I understand the Veterans Affairs Department will match 4 percent. I’d like to retire at 62ish. Here is a copy of my latest leave and earnings statement: ———————————————————————- Pay Period: 12-22 Name: ALLEN, TROY J Gross Pay 1,586.40 Federal Tax Amt Withheld 179.76…