Q. My husband (born in 1961) served in the Air Force from 1980-2000 and retired. He has been receiving his military retirement pay since then. In early 2001, he went to work full time in FERS. He plans to retire when he reaches age 60/20 or perhaps at age 62. Because his projected high-3 is likely to be significant, we are considering making a deposit (3 percent of base pay and interest) to buy his military time. We understand that there are positives and negatives to doing this — one of which is that he would have to waive military…
Browsing: military service
Q. I retired after 30 years in the military and did not buy back my time. I am 53 and want to retire from FERS with 5½ years in. I know it’s a deferred retirement. Can I keep dental/vision insurance? Can I avoid the deferred retirement and draw a small pension right away? A. First, you don’t meet the age and service requirements for an immediate annuity. Second, employees who leave with an entitlement to a deferred annuity aren’t eligible to continue their coverage under the Federal Employees Dental and Vision Insurance Program, nor may they re-enroll when their deferred…
Q. Can I buy back my military time based on my retirement points instead of my DD 214? After four-plus years of active duty, I retired from the U.S. Army Reserve. A. Deposits to get credit for periods of active-duty service are based solely on the basic pay you received on active duty. A copy of the DD 214 is used by the finance center for your branch of service to verify that amount.
Q. I work for the government under FERS. I retired from the military after 20 years but did not buy back my time for retiring from the federal government. I will be 62 next year and will also have five years working for the federal government. Will I be allowed to draw a retirement from VA and Social Security and also continue to draw my military retirement pay? A. Yes.
Q. I am a dual-status Air National guardsman with 26 years of service in FERS. I started a medical worldwide duty evaluation in September 2011, and the clinic has been gathering information from my doctors via me. In May 2012, I was told that I was being non-retained on the military side due to restructuring. I was told that since I had 26 years of federal service, I would draw an immediate pension and that would disqualify me for FERS disability, which would be better for me. Is this true? A. Yes.
Q. My husband served 20 years in the Army and has been deceased for more than 30 years. I was told that because he was a federal employee, a percent of his military time should count toward my Federal Employees Retirement. Is this true? A. No.
Q. I spent a little less than 10 years in the Navy, leaving with an honorable discharge, having served in Vietnam. Within two years of leaving the service, I worked for the civil service for less than a year. I am now older than 62; am I eligible for civil or federal service retirement? I have paid into Social Security and am collecting. A. Since you weren’t vested in the civilian retirement system, you aren’t eligible for an annuity. You’ll have to check with your branch of service to see if you are entitled to any military benefits.
Q. Suppose a person does 23 years of active duty (enlisted) regular Army service and then gets a federal job under FERS. If he retires after 10 years, can he still receive his military retirement pay, military disability check, Social Security and federal retirement checks? A. Yes. However, because he’d be retiring under the MRA+10 provision (minimum retirement age with at least 10 and no more that 29 years of service), his FERS annuity would be reduced by 5 percent for every year he is younger than 62. He could, of course, retire and postpone the receipt of his annuity until…
Q. I have seven years’ Postal Service time, plus two years’ military, which I bought back. I turn 65 this year. Gathering from OPM guidelines, I am not eligible for a voluntary early retirement because I lack the years, correct? Or, might they want to get rid of those of us who are older than 62, even though we lack 25 years? A. To accept an offer of voluntary early retirement, you’d have to be either age 50 with 20 years of service or any age with 25, but there are other options for retiring on an immediate annuity. You could retire…
Q. I’m a FERS employee who recently resigned my commission in the Navy Reserve. I have combined active duty and reserve time. After I received my Statement of Service, I submitted that and my DD 214 to Defense Finance and Accounting Services for military buyback consideration. If I buy back my military time, I’ll have 20 years combined. What happens to that military retirement if I don’t convert that time? Can I request that military retirement amount be transferred into my TSP or a private 401(k) account? If I don’t convert that military retirement balance, what happens to it? A.…