Q: I am potentially facing a medical disability retirement because of a heart condition under NFPA 1582. I am 33 years old and have both previous active duty Air Force fire (six+ years) and currently am an Army GS civilian (seven years). If I do go out on medical retirement, will I be able to collect my Social Security supplement right away or at all down the road? Should I buy my military time back even though I may be separating later this year? Can I buy military time back after I go out on disability? Can I withdrawal from…
Browsing: military buyback
Q: In 1995, I retired from active service in the army with 17 years. I have been working for 10 years as a FERS employee. I recently paid the deposit for my military service. According to the OPM website, once I have paid the deposit, I should request a “remedy” through my servicing personnel office to DFAS and when I receive this, provide it to the personnel office. I have made the request for the remedy. My questions are: Does the fact that I made the buyback for the post-56 military service affect my Service Computation Date? Will this impact…
Q: I am a USPS employee (FERS) receiving a military retirement check for 22 years of service. When I reach 20 years with the postal service (age 63), will I be able to retire without the military buy back option? I do not want to waive my monthly military checks. A: You don’t have to make a deposit for your active duty service or waive your military retired pay. Any FERS employee can retire on an unreduced annuity if he or she is at least age 60 and has 20 years of service.
Q: I am trying to find out about the military buyback and who/where do I make contact before I retire from federal service. I am a military veteran looking to leave federal service by the end of the year and would like to pay back any money owe. A: Complete Form RI 20-97, Estimated Earnings During Military Service, and mail it to the finance center for your branch of service along with a copy of your DD Form 214, Report of Transfer or Discharge. When the answer comes back, take it, a Standard Form 2803 (CSRS) or 3108 (FERS), Application…
Q: I am 50 years old and have a service computation date of April 30, 1986. I would like to know when I am eligible for retirement. I served in the Army from 1984 to 1992. I bought my time back from the military and have completed making a deposit for that time. I am also working in a position which has been phased out of my department. They do not have a position to move me into. Is retirement an option for me and if so how soon? A: Because you are age 50 and have at least 20…
Q: I’m a under FERS as law enforcement undergoing a Reduction in Force (RIF). I’ve been offered the Voluntary Early Retirement Authority (VERA) and the Voluntary Separation Incentive Payment (VSIP). I have a total of 25 years of creditable service, with nine of those years military time. I did buy that back and I am 47. I have received my Federal Retirement Benefits estimate (FRB). In the FBR it shows I would not be receiving a FERS supplement until 56. However, if I retire at 51 I would start receiving the FERS supplement at that age. I’m really confused as to…
Q: I retired from the Air Force after 27 years of service. I have now been working for TSA for three years for a total of 30 years of federal service. When will I be eligible for retirement from TSA and does my time in the Air Force count toward a future retirement? A: You will be eligible to retire when you have five years of civilian employment. You will only receive credit for your years of active duty service if you make a deposit to the civilian retirement fund and, at retirement, waive your military retired pay.
Q: I’m 45 and will retire as a military reservist next year with 21 years of service. I joined the federal workforce in 2004 and am considering buying back the 14 years of active duty toward my federal retirement. When I retire, will I be able to draw both a military reserve retirement and federal pension? The way I read the regulation is that if I buy back the military time I would have to waive my military pension to get a federal pension. Is that correct? Could you offer additional insights on the pros and cons of the subject?…
Q: I serve in the Air National Guard and as a full-time technician (dual status). I have been nonre-enlisted in the military at 58 and will have to leave the civilian technician position (GS-11) on April 11. My service comp time date is Jan. 18, 2000, which includes a five-year military buyback. Will I be eligible for the Social Security supplement when I leave/retire in April? Basically, if I cannot serve in the military I cannot hold the position. I have a projected income of about $1,200 monthly from Social Security at age 62. I will receive a “guard pension”…
Q: I did served years and three months of active duty with the Coast Guard and then I enlisted in the Coast Guard Reserves. I am also employed with the federal government. Since I am still in the military, do I need to buy back my time? I plan on doing 20 years with the Coast Guard as well. A: Yes, you do if you want to get any credit for it. And the sooner you make the deposit, the less you’ll have to pay in interest.