Q: I am 58 with 16 years of federal service (FERS). I retired from the Army with more than 20 years of service. I am concerned that there would be significant penalties for retiring at my age and years of service. What are some of the factors and risks that I should consider if I decide to retire in 2012? What are the advantages of waiting until I have 20 years of service before retiring? A: Because you’ve reached your minimum retirement age, you could retire under the MRA+10 provision. If you did, your annuity would be reduced by 5…
Browsing: military service
Q: I recently ran across a copy of your Oct. 4, 2010, article on retirement titled, “These dates key for feds considering retirement.” I am a retired Navy officer. I left in 1999 with 20 years of active duty service as a commander. I collect retired pay annually, increasing from about $32,000 (1999) to a about $40,000 (2010) over the last 11 years. Upon retirement I was selected for the SES on July 6, 1999. I am 53 years old with more than 31 combined years of service. I am a FERS employee with an annual salary of around $172,000.…
Q: I am a military technician with 20 years of service but I’m only 44. I am thinking about retiring from the National Guard, which would then cause me to lose my technician job. Will I still get any type of retirement when I reach my MRA? A: Because you have 20 years of service, you would be able to apply for a deferred annuity at age 60.
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…
Q: I am a federal employee GS 1811-14 step 10 with the ATF. I am also a member of the Army Reserve. For the last several years I have performed extensive military service in LWOP status from my civilian position with ATF. I am now approaching retirement and being told that my high-3 is based upon “actual” pay received and not my grade and step at the time. In that the LWOP I used to perform military duty significantly reduces the pay I would have received for my grade/steps/25 percent LEAP, I am significantly penalized for my military service. As…
Q: I was born in 1953 and have 20 years military service and 10 years of civilian service. Can I combine these and retire at age 55? If so, how much would it cost to buy in? A: To find out what it would cost you to make a deposit for your active duty service, you’d need tocomplete Form RI-20-97, Estimated Earnings During Military Service and mail it, along with a copy of your DD-214, to the finance office for your branch of service. When it comes back, you need to take it, a copy of your DD-214, and copy…
Q: I am employed in federal law enforcement. I have 10 years of active military service and finished my military career in the Air National Guard with a total of 24 years. I was told that if I bought back my active military time, I would sacrifice my military retirement. Is this correct? A: No. If you make a deposit for your period of active-duty service, you won’t have to waive your reserve retired pay. Only those who retire from active duty and receive military retired pay have to do that.
Q: I work at a Naval Station Newport Fire and Emergency Services. Because of the continued shortage of personnel, long process of hiring and vacations, the AOU is continuous. Is there a way to get AOU Premium Pay as the LEOs do? A: Only through a change in the law.
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…