Browsing: vested

Q. I am a retired officer, age 64, and have been a federal employee for two years. I paid a deposit for three years, 11 months credit for time attending a service academy. Am I eligible to retire now with five years, 11 months of service, or do I have to actually be a federal employee for five years and then add the academy time? Not planning on retiring now. Just want to know the facts. A. You cannot retire until you are vested in the retirement system, which requires that you have five full years of actual FERS service.

Q. I’m approaching five years of federal service, which means I will be vested in my FERS annuity. I have a job offer with a state government entity that would like me to start before I am vested.  Can I use annual leave to get me to the five- year mark for vesting purposes?  If not, what happens to the .8 percent, do I get it paid out?  Does making it to five years affect a future return to federal service? A. Your unused annual leave can’t be added to your service time to make you eligible for a future…

Q. I had 13 years of federal civil service with the National Guard. I never withdrew the money I had allotted in FERS. Am I vested? Also, will I get a retirement check at age 60? A. Yes, you are vested. However, because you had at least five years of service but fewer than 20, you won’t be eligible for a deferred annuity until age 62.