Q. I was an employee under CSRS for 15 years and nine months. I took a Voluntary Separation Incentive Payment and withdrew my retirement pay. I am recently rehired and will go under the CSRS Offset. How can I determine what the repayment would be with interest? A. There’s only one way to find out how much you owe. Download a copy of Standard Form 2803, Application to Make Deposit or Redeposit, fill it out and send it to the Office of Personnel Management, Retirement Services and Management Group, P.O. Box 45, Boyers, PA 16017-0045. When they’ve told you how…
Browsing: redeposit
Q. I was a federal employee in the 1970s under CSRS who left after more than years and received a refund of contributions. I was rehired in the federal government under FERS in 2010 and my agency recognized five years, three months and 27 days of past government service on my service computation date. Will that time count toward my FERS annuity when the time comes for me to retire, assuming I meet age and other time of service requirements? A. No, it won’t be included in your FERS annuity. Instead, because you had at least five years of CSRS…
Q. I previously worked for the federal government (CSRS, full time) from 1966 to 1969. I quit civil service for college, and then went active duty from 1976 to 1979. The private sector did not work for me, so I went back to federal civil service in May 1983 (CSRS, full time). My service computation date showed at March 1977, I plan to retire in March 2012 (I would be 65 years old) and I will not be eligible for Social Security benefits. Would I have to make a redeposit of my military service (1976-79) in order for those three…
Q: I had to take leave/terminate from my government job in February 2001. Unfortunately, I accepted money and my time from Feb. 25, 1991, to Feb. 23, 2001, was lost. It has been rumored that we can now buy back time such as this. With a service computation date of November 1987 and a retirement date of October 2010, that would give me a total of 22 years, 11 months. I’m willing to buy this time back and would like to know what agency deals with this. A: If you return to work for the federal government, you can redeposit…
Q: I just received notice from Social Security that my benefits check may be reduced because of the windfall elimination provision. I retired under the Civil Service Retirement System Offset program Oct. 31, 2010. My time in service under CSRS was approximately five years, nine months. I withdrew the money that I put in after each job because at the time I did not expect to retire from civil service. My last withdrawal from CSRS was from the period of May 1981 to December 1982. I returned to government work in May 1984 and was placed in the CSRS Offset…
Q: I worked for the federal government for about 18 years. I resigned in 1985 and withdrew my retirement contributions. Is there any way that I might be eligible to receive retirement benefit for these years of service? I am now 65 years old. A: The only way you would be eligible for a retirement benefit would be if you returned to work for the federal government. While you would then get credit for that time in determining your length of service, you would receive no benefit unless you either redeposited the refund, plus accrued interest, or worked long enough…
Q: My wife is a government employee who was reinstated from former government service (she resigned in 1993). She entered government service in 1980 and was under the old retirement service. She resigned to have a child in 1984 and withdrew her retirement. She was reinstated in 1986 and came under the new retirement system. She again resigned and was reinstated in 2009. She has more than 13 years of government service. Can she pay back the retirement she received plus contributions she would have made over the years to fall back into the old retirement system? A: She may…
Q: I just read an article about the 2010 Defense Authorization Act, and it speaks of allowing employees under the Federal Employees Retirement System to redeposit. I took a refund of $1,600 and lost 13 years of military time for retirement under the FERS system because redeposit was not allowed. I understand this new law authorizes FERS employees to redeposit for civil service time. Does it allow for redeposit for military time? A: No, it doesn’t.
Q: I’ve been trying to find details on the new Federal Employees Retirement System Redeposit, but have had no luck. Do you have any details? A: The Office of Personnel Management is still working up guidance and revising the application form. If you are retiring in the near future, OPM will tell you now how much you owe and let you make the redeposit before they finish processing your retirement application. If you aren’t retiring soon and are simply eager to get the paperwork moving, you can fill out a copy of the current Standard Form 3107, Application for Immediate…
Q: I read your Nov. 16 column about how Federal Employees Retirement System employees can redeposit retirement refunds. I’m a military retiree, but I spent approximately 5.5 years post-military time at the Small Business Administration and Department of Homeland Security. Unfortunately, I made the mistake of taking a very small refund for my retirement time at SBA, totaling about 18 months. That put me under the 5 years of federal service that I would need to qualify for a pension, albeit a small one. As I read your column, I gathered that I can repay the amount I received at…