Q: I am 70 years old. I was in the military for three years, from 1981 to 1984, then worked 2.5 years for the Army as a civilian. In 2009, I worked for a VA hospital for 16 months. While at the VA hospital, I bought in my military time. Do I have enough time to draw any retirement? Or, how much additional time would I need in the federal system? A: If you had at least 20 years of service, you would have been eligible for a deferred retirement at age 60; if at least five years of service…
Browsing: military buyback
Q: I read something in Reg Jones’ column in the Oct. 4 issue of Federal Times that I would like more information about. The district office of the Equal Employment Opportunity Commission in San Francisco, my employer, no longer has a personnel specialist. I was hired by EEOC in February 1993. I retired from the Navy Reserve in 1995, and have just recently begun to draw retired reserve pay at age 60. I plan to retire from EEOC at the end of 2014. I will be 64 years old and have 21 years’ civilian service then. Questions: May I make…
Q: I just recently became employed as a GS. In reviewing my Notification of Personnel Action form (SF-50), I had a number of questions which I asked of our human resources personnel: The form indicated I have no veterans’ preference and no creditable years of military service, though I have almost 25 years of service. The response I received was that I would have to surrender my pay and purchase the years of military service if I want to have it credited for civilian service. I have no intention of doing this. I was referred to the Office of Personnel…
Q: Can an active-duty service member roll his retirement into government service and add those years together with existing military service years? This was possible 20 years ago or so, but I was wondering whether it still is an option. I’m a 27-year veteran about to retire, and I’d rather go straight into government service and forego my retirement check from the military, if that is possible. A: Nothing has changed. You can make a deposit to the civilian retirement system for any years of active-duty service and, if you are eligible for military retired pay, waive that pay when…
Q: I retired from the Navy after 20 years of service. I was on active duty for eight years and then on reserve active duty for 12. I am 47 and receiving retirement pay. Since I retired as a reserve (my DD 214 shows component/branch as “U.S. Navy-USNR”), can I buy back my time and put it toward my Federal Employees Retirement System retirement? A: You may make a deposit for any period(s) of active-duty service. If you do, that time will be used in determining your length or service and in your annuity calculation. Making a deposit for that…
Q. I am a FERS employee who was hired in 1984. I bought back my military time, which was two years and 10 months. Do I get annual leave for this? My friend bought his back a couple of years ago and he received an excess of 700 hours. A. No, he didn’t. What he and you got for making a deposit was civilian service credit for your period of active-duty military service. The only effect on annual leave would be if those additional years moved you into a higher leave accrual category.
Q. I paid my military buyback off all at once.I was a seasonal part time GS04 for approximately nine months. I then got picked up for a full-time position and resigned after two days on that job. If I get my buyback money refunded, will it be taxed since it was not earned and was mine to begin with? A: For tax purposes it would be treated no differently than any other deposit you made for which you received a refund.
Q: I am retired military and receiving retired military pay. I am a service academy graduate; that four years is not included in my military retirement. I just started working as a civil service employee. Can I receive creditable time for my four years at the academy for civil service retirement since it is not part of my military retirement pay? A: You can if you make a deposit to the civilian retirement system for that time. Talk to someone in your personnel office to find out how to do that.
Q. If one buys back their military time, is the money paid for the buyback nontaxable? A. No.
Q: I work for the Postal Service and have four years of creditable military service. I started work after Oct. 1, 1982. If I pay my deposit and make monthly payments on my interest but do not pay back all the interest owed by my retirement date, will my credit (military service) be adjusted? How is it calculated? A: If you don’t complete your deposit, including accrued interest, by the date your retirement application is adjudicated by OPM, you won’t get any credit for that service. Instead, the money you did deposit will be returned to you.