Browsing: refund

Military buyback

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Q. I retired in 2003 with 30 years of active Army service. I have been drawing full military retirement pay since then. I am now a GS employee with seven years of federal service. Can I still buy back my military time and combine the two for a federal retirement?

Deferred retirement

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Q. I’m considering resigning from federal service because I’ve been unable to find a federal job at my husband’s new job location across the country. I have career status with 18 years of total federal service, six of which was bought back military time. I was born in 1959, so my minimum retirement age is 56; I’m 53 now. If I resign now with the intention of taking a deferred annuity when I reach 62, do I do anything in the process of separating that might affect my ability to return to the federal workforce? It’s my understanding that I don’t apply…

Military buyback and RIF before vesting

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Q. I am a career conditional employee with 1½ years total civilian service time who is eligible to buy back my military time. Due to the current budget constraints, I fear that I could be subject to a reduction in force. If I buy back my time and am RIF’d prior to completing my five years of civilian service that are required to be vested in FERS, what happens to my military deposit? A. You’ll have a choice to make. You can either ask to have that money refunded to you or you can leave it in the fund. If…

Buying back retirement credits

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Q. I worked for the Postal Service from late 1979 until about 1991. I had a lot of personal and work-related problems and was also given a letter of termination. I decided to quit. I also tried to pursue a disability, but I dropped that because of stress and depression. I withdrew my retirement to pay an accumulation of four months of bills and rent that I was behind in. I vaguely recall reading that there was a buyback of retirement. Is this true? I am applying for Social Security benefits. I am only 58, but, due to health concerns,…

Removal from federal service

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Q. I’m in an upper management position with the Transportation Security Administration for the past 10 years. Recently, I have heard that my immediate supervisor is proposing my removal from federal service. If I get removed, will I lose my federal pension or will I be able to collect it when I reach retirement age? A. If you don’t take a refund of your retirement contributions, you could apply for a deferred annuity at age 62.

Redeposit

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Q. I started employment with the Defense Department in September 1981 under CSRS. In 1995, I took advantage of a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay because my organization was downsizing. I also took a refund on my retirement account, which I tried to invest in buying a home and lost it. I was reinstated in the government in 2004 and came back as CSRS Offset.  I also rolled my 401(k) from the job I had outside the government into the Thrift Savings Plan. I will be 65 on March 7, and was planning to retire in May. Because…

Military buyback

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Q. I left the active-duty Army with 15 years of service to take a federal law enforcement position (6c). I’ve bought back all 15 years of service, and now I have the opportunity to go back on active duty with the Army (I’ve been in the Reserve) and complete five years for an active-duty retirement. What happens to the buyback time and money when I return to my federal job if I complete the active-duty retirement after I’ve finished the military buyback payments and I have an updated service computation date? What if I finished the federal retirement first with…

Military payback after retirement?

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Q. I am paying back more than nine years of active-duty Air Force service and I still owe $6,000. I am considering retiring next month under FERS. Can I continue to make those payments from my annuity check while ensuring I get full credit for my military time? A. No, you cannot. If you haven’t completed the deposit by the time your annuity is finalized, the money you have deposited will be refunded to you.

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