Q. I separated from the Air Force in 2008 as a major with 13½ years of service and received a lump-sum voluntary separation payment. I’m employed as a government civilian and would like to buy back my military time. Do I have to repay the entire lump sum I was paid when I separated to do this? A. Whether you are required to pay back some or all of your VSP is a matter between you and your branch of service. It has nothing to do with your ability to make a deposit to get credit for you active-duty service.…
Browsing: military buyback
Q. My husband starting working for the Department of Defense in August 1984. He was put into the CSR Offset. He had four years of military service, and he immediately paid the deposit for civilian service credit. Effective Jan. 1, 1987, he was automatically put in FERS. Does the military service he bought back count for creditable civilian service? If yes, then shouldn’t he have remained in CSRS, since he would have had more than five years of civilian service before Jan. 1, 1987? He had no previous civilian service, other than military service, before he was hired in 1984. A. Yes, the active-duty…
Q. I retired from active service with 30 years. I recently obtain a federal government job and am inquiring if I am eligible for the buyback program and, if so, if is there a cost comparison worksheet to review so I can determine if the buyback is advantageous to me. A. Yes, you are eligible to make a deposit for your active duty service and have it used in determining your total years of civilian service and annuity; however, at retirement, you would be required to waive your military retired pay. To find out how much you would owe, complete…
Q. I am a Postal Service employee with 27 years actual service. I also bought back four years of military service (actually three years, 11 months and 28 days). Will I get credit for four full years or three years and 11 months under FERS retirement? A. While you will get credit for that service in determining your eligibility to retire and in the computation of your annuity, it won’t be included when computing the special retirement supplement. Only actual FERS service will be counted in that.
Q. I am currently a federal employee and my career is as follows: I joined the military reserves at 17 and was activated for the Gulf War, received two years of credible service. I began my civilian career at age 23 as a customs inspector (non-6 (c) coverage) and was there for three years. At age 26, I became an 1811 with the INS for two years. At age 29, I joined ATF as an 1811. Now I am 39. If I buy back my military time now, would that allow me to retire at age 46 with 20 years…
Q. If I buy back my military time (20 years), I’ll have 35 years of federal service and be 54 years of age. If an early retirement is offered, would I be eligible? A. Yes.
Q. I first came on as a civil service employee under CSRS from 1981 to 1984, then went on active duty for three years. I cashed out my CSRS when I left. After my tour ended in 1984, I came back to civil service as a FERS employee. I am now within 10 years of retirement. Can I “buy back” those CSRS years I cashed out toward my FERS annuity? A. Yes. Just fill out a copy of Standard Form 3108, Application to Make Service Credit Payment (downloadable at www.opm.gov, click on Find Form(s)) and send it to OPM, Retirement Service…
Q. I am a disabled retiree, retired by the Army at 60 percent with 19 years, 11 months and 18 days of service. I am a FERS employee with 10 years’ civil service. I am 63 and considering retirement and buying back my military time. As 90 percent of my pay comes from the Veterans Affairs Department, it seems like a good idea. How does the Catch-62 clause affect me when I file for my Social Security? Will any other areas be affected by buying back my military time? How do these rules affect me if I work after I…
Q. I am an Air National Guardsman with more than 30 years of service and a dual-status federal technician. I have bought back my military time, so with everything, I have almost 29 years’ federal civil service. I am 52, so I’m about four years away from my minimum retirement age. Due to some health issues, I’ve very recently been put in a “not eligible for worldwide service” category and will have to go to a medical evaluation board. If militarily retired, I know I will lose my technician position. How will these scenarios affect my retirements? A. To see…
Q. My husband was in the Naval Reserve from June 1971 to June 1976. He was not called to active duty, although I believe the two weeks of training every year and six months of boot camp/school may be classified as active duty. If that’s correct, he had about 36 weeks of active duty subject to buyback. For his six years in the reserve, he was paid a grand total of $2,165.45, according to military records he has in his file. He was under CSRS but had a brief break in service in 1987 and came back into the federal…