Q. Worked 33 years for the U.S. Postal Service under Civil Service Retirement System and four years in the Marine Corps. Back in the 1970s, I bought back my USMC time so I could draw both Social Security and civil service retirements as I worked two jobs. Now, with offset in place, I cannot draw Social Security due to USPS retirement. Can I get a refund for my buyback payment since I will never draw Social Security? A. As a CSRS employee, there wouldn’t be an “offset” that would cancel any Social Security benefit to which you might be entitled. Instead, you’d be subject…
Browsing: military buyback
Q. I separated from the Army in 1997 after nine years of active service and three years of National Guard service. I separated under the provisions of the Special Separation Benefit. My separation benefit was $38,000. I have recently received a job offer as a GS-12 employee. I’m 46 years old and wish to understand if buying back my military time would prove beneficial. Thank you. A. If you become a federal employee and make a deposit for your nine years of active-duty service, you’ll be given credit for that time in determining your length of service and in your annuity calculation. As a rule, you’d…
Q. I served in the Air Force for six years active and have been a member of the Air National Guard since 2009. I recently became employed by the federal government and plan to buy back that military time. My question: Once I buy back my active time, can that specific time only be used once (for the fed retirement) or can it be applied to both my federal retirement and ANG retirement? I’m wondering if once those six years of active are applied to my federal service, will they not be eligible towards my ANG time? A. Making a…
Q. I have three periods of military service for which I am required to pay a deposit under “Catch 62.” The first period, 1969 to 1972, I paid for when it came due in 1986. This bought me a period of about 2.6 years. Later I was mobilized for Desert Shield/Desert Storm in 1990 to 1991; and Bosnia in 1997; for an additional eight and seven months, respectively. I plan to work off the additional time by delaying my retirement for 15 months or more. When I discussed this plan with our HR office (SSA HQ) I was told that…
Q. I am a FERS employee who started with the post office in 1989. If I buy back my military time, which started in 1979 and continued through 1988, is this time counted as FERS or am I a FERS employee with a CSRS component. A That time would be credited under FERS. For your active-duty military service to be credited under CSRS, you would need to have completed a minimum of five years of actual CSRS service before Jan. 1, 1987.
Q. Is it possible to use my military basic pay instead of my federal salary to determine my high 3 for federal annuity calculations? If I make my military deposit for federal credit, can I use the higher military pay to calculate my high 3? I am a Customs and Border Protection officer on leave without pay, and I went on active duty military for three years. A: No, you can’t. By law your high-3 is based solely on your highest three consecutive years of civilian basic pay.
Q. I have seen some questions recently concerning federal annuities and waiving military retired pay. Iis there any benefit in doingso? Why would anyone want to do this? Is it better to get one check or two? A. It’s worth it if making a deposit and waiving your military retired pay results in your being able to retire sooner from your civilian employment with a larger annuity than two separate ones would provide. You need to make the decision based on what you gain when compared with what you lose. Note that waiving your military retired pay will not affect any other entitlements you have…
Q. I have been employed full time with the Veterans Affairs Department since March 2010. I am also currently in the Air National Guard with 27 total years of service. I am 51 years old and would like to buy back 15 years of my military service. I have a total of 17 years of active service with all my deployments. If I buy back 15 years, can I collect my full National Guard retirement when I turn 60 and also collect my FERS retirement? How many years will I have to work to get any type of FERS retirement?…
Q. I need to know how to buy my military time back, how much it will cost and where to send the forms. A. Go to the Ask the Experts site, click on the heading “Read more” and on the right hand column click on “Creditable service: FERS,” then scroll down to “Counting military service toward retirement,” dated Oct. 25, 2010. If, by chance, you are a CSRS employee rather than CSRS, use a Standard Form 2803 instead of the 3108.
Q. I retired from the Navy in 1998 (early retirement) with 16 years of service and am receiving military early retired pay. I’ve been employed by the Defense Department under FERS since 2000. Can I retire from DoD after 16 years? I will be 51 when I want to retire in 2016. Also, will I be eligible for the supplemental payment? If my command does a reduction in force, should I apply? What are the penalties if I do? A. You won’t be able to retire from your civilian position in 2016 because you won’t have the age and service…