Q. I was medically retired from the military after about 15 years of service. I was receiving a pension from the Army until I was awarded compensation from the Veterans Affairs Department. The VA compensation was more than the Army pension that is taxable; therefore, I receive a VA compensation that is nontaxable (80 percent). Within the past three or four years, I was awarded combat-related special compensation because the injuries were considered to be combat-related during my military career. My time of service was Sept. 21, 1981, to June 19, 1996. Does the military buyback option apply to me…
Browsing: military buyback
Q. I am a federal firefighter with 19 years in. I am shy of three months until I am eligible to retire with my 20 years. I have been told that I am not fit for duty because of some health issues and that I will not be able to retire in August as I had planned. I am being told that I will be let go and that I need to apply for disability. I had 13 years active duty as a firefighter (I already paid back my 13 years). I am also a 10-point veteran. I am trying…
Q. I am currently a 6c AIA who is getting ready to start Title 10 contingency orders stateside. I realize that Title 10 orders for a contingency are not a factor for five years of military leave, but how will this affect my retirement? Will I still be able to retire at the minimum 20 years, and will I have to make contributions to the FERS retirement? (I realize I will have to buy back the military years for a higher retirement percentage.) A. If you are called to active duty and on completion of that assignment return to a…
Q. I am 33 years old and have four years active duty time and eight years FERS time. I am considering a position covered under 6c. How much of this time, if any, could I credit to 6c? What would be the youngest I could retire? A. Neither your current service under FERS nor your active duty time for which you made a deposit would be creditable in meeting the 20 years of covered service requirement to be eligible to retire under the special provision for law enforcement officers. Therefore, if you began your law enforcement career at age 33,…
Q. I retired in 1995 from the Army after 15 years and two days under the early retirement option offered. I have been working for the federal government for over 16 years. I have not bought back any military service; I draw a military pension and disability pay. I divorced my spouse in 2006; she waived all rights to my current federal annuity, Thrift Savings Plan, etc., but does receive half of my military pension and the other half as spousal maintenance outlined in the divorce decree. Would it be legal to buy back my military service credit and convert…
Q. I was medically retired from the Air Force in 1994 with 19 years, 2 months, 11 days. I was hired for a civil service position Aug. 25, 1994. I also am a disabled vet (80 percent), and all of my retired pay is received from the Veterans Affairs Department. Would it benefit me to combine my military and civilian time? A. If you made a deposit to get credit for your active-duty service, it would be added to your years of civilian service and used in determining your eligibility to retire and in your annuity computation. Because you are a…
Q. Am I eligible to be under the CSRS retirement plan? Currently, I am in FERS retirement plan. I was in the armed forces from May 26, 1978, to May 25, 1981. After my honorable discharge, I was employed overseas with the Department of the Army from Dec. 2, 1982, to Dec. 19, 1984. Since Feb. 2, 1986, I have been employed by the Department of Veterans Affairs. I paid back my military time. I will be 56 and, as of Feb. 2, I have 31 years in the federal government. A. Because you had fewer than five years of…
Q. I’m debating whether buying back my military time will be worth the cost, taking into consideration the changes to the FERS program. I have three years as a federal employee. I completed the deposit May 1, which gives me 23 years toward my retirement. However, I am unsure if I will fall under the current .8 FERS contribution rate or the new 2.3 contribution rate recently approved. I made my decision to buy back my time based on the old retirement system. Now I think I may have wasted my money. Can you provide some insight on where I…
Q. I am a 53-year-old FERS employee who requested to buy back my military service time through payroll deductions. The intent was to retire at 62 from federal service, at which time the years of military service would have been completely bought back. Now, my agency is offering Voluntary Separation Incentive Payments. I am tempted to accept one and opt for a delayed retirement. I don’t believe the VSIP would affect my projected future retirement benefits (please verify that). However, must I continue to make monthly payments to the Office of Personnel Management to complete the buyback prior to age…
Q. I am a federal law enforcement employee, hired as a GS-1811 criminal investigator six years ago. I am 54 years old. The position was not under the SRC. However, CPAC has determined that it should have been. The agency has been directed to move 1811s to the SRC. I have bought back 10 years of military service and understand I will be required to “buy in” to the SRC (extra 0.5 percent base salary x six years). I understand the SRC requires mandatory retirement at age 57 or as soon thereafter as I have 20 years “qualifying” service. From…