Q: I have heard that five years of service is required to be eligible to receive a FERS annuity. I am 61 years old and have been a GS employee for one year. I plan to buy back my four years and seven months of service in the Navy. My question is this: can I retire with an annuity after working two more years (total of three years of active GS service) and get an annuity based on my creditable service of seven years and seven months (military time plus active GS time)? I read on a private website dedicated…
Browsing: military buyback
Q: I recently began federal employment after serving 10 years of active duty in the Air Force. I am buying back my time in one lump sum at the end of this month. However, I have been toying with the idea of returning to active duty in two or three years. If I return to active duty and retire from the Air Force, what happens to my deposit? Also, if after retiring from active duty, I return to federal employment, what effect would the original buyback deposit have on my potential civil service retirement? A: If you left your contributions…
Q: I am considering buying back my military time. I am a federal employee under FERS and retired from the Naval Reserves in January 2010. If I buy back my time (which is about eight years of active duty), will it affect my military retirement at age 60? Also, what is the true advantage of buying back my time? A: If you make a deposit for your period(s) of active duty service, those years will be included when determining your total years of civilian service and in your annuity computation. For most FERS employees that would mean an increase of…
Q: I am a federal employee who bought back three years of active duty many years ago. During my federal service I have been receiving VA disability for a service-connected injury that happened on active duty but did not happen during a period of war or by an instrument of war. Will my FERS retirement annuity be affected in any way by my “non-war time” service connected VA disability? A: No, it won’t.
Q: I am trying to determine if it’s worth buying back my military time. I retired from the Army in October 2009 with about 14 years active-duty and 17 years reserve service, including two mobilizations for Operation Iraqi Freedom. I also receive a Veterans Affairs Department disability check after my last deployment. I should begin receiving my military retired pay in April 2016 based on the “90 days for 90 days” rule for being mobilized after 2008. I work for the Veterans Health Administration. I was hired in November 2010, and I have no other federal service. What benefit would…
Q: I am 58 years old, and I started work for the government in 1981. I have 30 years of service as a Defense Department civilian employee and four years as an active-duty service member. I am under the Civil Service Retirement System and plan to retire at age 62 with 38 years of total service. I have not bought back any of my active-duty time. What impact will that have on my retirement annuity and what impact will that have if I decide to take another job after I retire? A: Because you were first hired before Oct. 1,…
Q: If I buy back my military time, can I collect both military retirement and Federal Employees Retirement System benefits? My situation is this: I am 58 years old, and I started a job with the federal government Sept. 26, 2010. My prior military service consists of nine years on active duty and 14 years in the reserves. I have submitted the forms to the Defense Finance and Accounting Service and have received my cost calculation to buy back my active-duty years. I am eligible to collect my military retirement when I turn 60. I plan to continue working for…
Q: Is military active duty for training time creditable toward total years of civilian service for retirement purposes under the Civil Service Retirement System or Federal Employees Retirement System? If so, has it always been that way? If it has not always been that way, when did it change? Please include any relevant law or regulation. A: You’ll find what you’re looking for on the Office of Personnel Management website here.
Q. I have 34 years under CSRS. I am planning to retire at the end of the year. I am also a retired Army reservist. Can I received credit for my initial active-duty time and annual training time that occurred prior to entering civilian federal service towards my CSRS retirement? A. Probably. However, you’ll need to complete Form RI-90-97, Estimated Earnings During Military Service, and mail it to your branch of service along with a copy of your DD Form(s) 214, Report of Transfer or Discharge, or similar document(s). When you get a reply, take it along with a copy…
Q. Can you explain in laymen terms about this or refer me to where I can find out more info? I have retired from active duty 20 years with disability pay. I now work as a DA civilian. I am 39. So do I count the 20 years plus my civilian years towards retirement? i.e. 20 years active duty plus 10 yrs CIV= 30 years total fed service at age 59. I earn four hours of leave time per pay period. When do I qualify for an increase in leave hours? If I opt for buying back time, will this…