Q. Is it possible to retain my Defense Department survivor benefits plan and use it as the basis for continued Federal Employees Health Benefits coverage for my wife and dependent child if I were to pass away? I plan on retiring under FERS this year. I’d rather not take the FERS SBP as it is more expensive. I am retired military with 20 years and bought back the time. A. No, it isn’t possible.
Browsing: military buyback
Q. I am currently a Title 32 Air National Guard member (full time). I have 18½ years of service toward an Active Guard and Reserve retirement: 11 years active-duty Air Force and 7½ years Air Guard. I have been offered a federal technician civil service position, meaning I have to stay in the military to perform the civil service job (GS-11). Can I buy back all 18½ years or just the active-duty Title 10 time? I’m assuming I will go over 20 years of AD/AGR time if I go into the federal technician program. Will this affect either retirement? Can I collect my AGR…
Q. I plan on retiring in 2013 under FERS immediate annuity with 30 years at my minimum retirement age with no penalty. I am FERS code 8, and my annuity computation date and retirement computation date are both Feb. 8, 1983. Is the earliest date that I can retire (to give me 30 years) Feb. 8, 1983? My 30 years will consist of FERS employment, “bought back” military time, and CSRS time “bought back” via a re-deposit). Will I qualify to receive the FERS annuity supplement even though I will not have 30 years of FERS-only time? Can I use…
Q. I moved to another base due to a base realignment and closure in 1994. I was told by my personnel office several years ago that it would be to my advantage to pay back my military time. So, trusting their advice, I paid it back. And because the interest accrued since 1986, the dollar amount tripled. I served in the Navy from 1974 to 1978. However, I attended a retirement class for CSRS employees and was told by the instructor I didn’t need to pay it back. I do not have 40 quarters and I will not be eligible…
Q. I retired from active duty in 2005. I made a service deposit to buy my academy time. When I reach minimum retirement age+10 next month, I will have 10 years and five months of creditable service (six years and six months since hired, plus three years and 11 months purchased service), more than 240 hours of annual leave and more than 600 hours of sick leave. I’ve gotten a formal Office of Personnel Management retirement estimate to verify my understanding that I can do a MRA+10 retirement this year. I initially used Tricare for my health insurance, however, to…
Q. I am considering retirement sometime after 2014. In 1994, I bought back three years of active military time. The only documentation I can find of doing this buyback is a receipt from my federal agency for the amount of the check I wrote. Is there a way to get better documentation of this buyback so my retirement paperwork goes smoothly? A. Yes. You can write the Office of Personnel Management, Retirement Operations Center, P.O. Box 45, Boyers, PA 16017-0045 and ask for a statement that you’ve made the deposit.
Q. I am a 54-year-old federal government employee with 18 years of service (come October). I plan to retire at age 62, and am curious about whether or not to buy back four years of military time. I got out of the military in November 1980 and am curious how much this would cost. A. To find out how much you would owe, complete Form RI-20-97, Estimated Earnings During Military Service, and mail it to the finance office for your branch of service along with a copy of your DD 214, Report of Transfer or Discharge. When you get a…
Q. I finished buying my military time back in 2001. I even received a Form 50 with my retirement date changed. Now, human resources for the Postal Service has notified me that they have made a error regarding my IAD date. They notified me I owe them $570 plus interest. This brings the total to $899. I agreed to pay the $570 but not the interest because it was not my error. They refused, and have already changed my retirement comp date. Why should I pay 10 years of interest due to their mistake? A. Unfortunately, you’ll have to pay…
Q. I have civil service retirement with the Postal Service. I have been informed that if I do not pay back the Social Security I did not need to pay when I was in my five years of military service, then once I am eligible for Social Security, the payback will start being deducted from that. I thought once that withdrawal started, it would not stop, even after it was paid up. Is this true? And if I pay it back in full now, my Social Security will not be touched for that at all. Is that correct? I am…
Q. I am on involuntary recall as a reservist to active duty. I am also a federal employee who bought back my four years of active-duty time. Upon my return to my federal position, would I be allowed to sell back the time I was mobilized to active duty if I was getting differential of pay from my federal agency? I am also retiring from the reserve and would like to know if I could retire from my federal position with 15 years and not meet the age requirement. A. Yes, you can make a deposit to get credit for…