Q. I’m still struggling with my military buyback time. I will be 58 in June; my service comp date is July 9. I’ll have 40 years of service, which includes my 3 years 11 months of military time and intend to retire by the end of December, which would give me another five months plus my sick leave. I have approximately 24 quarters paid into Social Security and to buy back my military time will cost me almost $5,000. I do plan on probably working part time but my question is, if I do not ever seek Social Security payments…
Browsing: military service
Q. I am currently a FERS employee in the GS system. This is my situation: I had 15 years of active-duty time, at which time I left the Navy and have continued in the Reserves. I started in the GS system, bought my military time back (about $18,000 for 15 years active duty) and in 2011 will have five years as a GS employee to total 20 (military + FERS years). My question is: Can I choose to take a deferred retirement in 2011 if I no longer want to stay with the federal government and pick up that pension…
Q. I’d like to know if buying your military time back if you’re a disabled vet is the same process ? I’m told that if I’m not going to receive Social Security I still get credit and don’t have to buy it back. A. Because you were first hired as a civilian before Oct. 1, 1982, you will get credit for that period of active-duty service in determining your eligibility to retire and in your annuity computation, whether or not you make a deposit to the civilian retirement fund. However, if you retire and are eligible for a Social Security…
Q. I served four years in the Navy from 1989-2003; right now, I work for the U.S. Postal Service as a ptf city carrier. If the post office cuts back to a five-day workweek, they will do layoffs. So, should I buy back my four years of service because that would put me at seven years of service and I think it takes seven years to keep from getting laid off. And, of course, what would be the cost of the buyback? The post office told me I had three years from my hire date to pay no interest and…
Q. Will I lose my federal years of service for retirement if I get out of the military after nine years and continue my education, then decide to join the U.S. Marshals or a federal agency after a three-year break. Does my 20 years of service have to be continuous? A. You would only be able to get credit for your period of active-duty service if you made a deposit to the civilian retirement fund after being hired. Even then, those years would not qualify as covered service under the enhanced benefit provision for law enforcement officers. To retire under…
Q: I am a FERS air traffic controller with 22 years of service. I planned on retiring in three years with 25 years of service. I am also in the Army national guard and was just told I will be deployed for 12 months next year. How will this effect my high three for retirement? I will be on leave without pay for most of my deployment. A: It won’t. While on military leave, your civilian pay for retirement purposes will remain the same as it would have been if you hadn’t been on military leave. However, when you get…
Q: I received a medical retirement from active duty in the Army after serving 15 years. I am working as a YA-02 (GS-11 equivalent) and I was wondering if I could buy back my military time. I am no longer receiving retirement pay because my VA compensation is more than my retirement pay. I have been a civil servant (FERS) for almost 2 years and my probationary period is just about over. Would it be beneficial for me to buy back my military time? A: To get credit for you period of active duty service, you would need to make…
Q: My husband was forced to retire from the Defense Department due to base closures in 1999. He was 45, and combined with his navy and shipyard time he had 25 years in. He took the retirement and has worked in the private sector since. He has an opportunity to work at the Veterans Hospital and was wondering what it would do to his retirement. He gets about $20,000 a year in retirement and the job pays $25 per hour. Any help is welcome. A: It depends entirely on the nature of his appointment. If he takes a government job,…
Q: I have nine years of military service that began Nov. 28, 1980, and ended Dec. 3, 1989. My federal service began Dec. 4, 1989, and I am still employed by the Federal Aviation Administration. I am under the Federal Employees Retirement System. On Nov. 27, I will have 30 years of continuous service if you include the military time. Does that qualify me for the any-age minimum retirement age under FERS with 30 years of government service? A: Because you are covered by FERS, those years of active-duty military service would only be considered to be creditable service for retirement purposes if you have…
Q: I am a firefighter under the Federal Employees Retirement System holding a secondary position with a service computation date of 2003. I retired from the Air Force after 20 years of military service. I have a number of questions. Would it be prudent for me to buy back my military time, which would allow me to retire early from civil service? If I do buy back my military time and retire, would I lose my military retirement check? Part of my retirement is a 40 percent service-connected disability from the Veterans Affairs Department. The other half is from the…