Browsing: waive military retirement

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?

Military buyback

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Q. I retired from the Air Force in 2003 after 26+ years of active service. I am divorced and split the retirement 50/50 with my ex-wife. I’m a GS employee with 10 years under FERS. Can I buy back my time? If so, would it even be beneficial to do so?

Military buyback

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Q. I recently spoke with an individual from the Office of Personnel Management’s retirement services regarding offset of FERS pension for Veterans Affairs disability. The individual told me that my VA disability would not be offset from my FERS pension if I was combining my military time with my civil service time. However, the individual also told me that if I buy back my military time and then waive my military retired pay all of my military benefits, medical, ID card, commissary, etc., would also be stopped. Has the law changed? A. I’m not aware that anything has changed. However,…

Military buyback and reservists

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Q. You answered a question March 1 about military buyback from a person who had 21 years of active-duty retirement. You said, “If you make a deposit for your active-duty service, you’ll have to waive your military retired pay when you retire from your civilian job.” Does that apply to reservists? I am a retired reservist who had planned to buy back 10 years of active duty in 2013-14. I began drawing retired pay last year when I turned 60. As a reservist drawing retirement, will I also have to waive my retired pay when I retire from civilian service…

Military and civil service retirement pay

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Q. I have 26 years as an Air Force Reserve technician; I have been offered an Active Guard Reserve tour that would give me 20 years’ active duty in five years. Will I lose my civil service retirement if I retire on the military side with 20 years, or will I be able to draw both since I have worked both? A. If you will be receiving military retired pay, to get credit for your years of active-duty service in your civilian annuity, you’ll have to make a deposit to the retirement fund and waive that pay when you retire.…

Military buyback

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Q. I receive military retirement pay for 21 years of service in the Air Force. I started working as a federal civilian employee (GS 9 step 1) two months ago. I have not bought back my military time. I am 41. If I continue to work as a federal civilian for another 20 years and buy back my military service, which would give me 40 years total, does my combined retirement/annuity add up to more than if I wouldn’t buy back my military time, keeping my separate military retirement check and my separate FERS annuity check? A. You are asking…

Military buyback

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Q. I served for 13 years and four months in the active-duty Air Force after graduating from a service academy. After taking a job in the airline industry, I continued serving in the Air Force Reserve for another 10 years. I turned 60 in March and started drawing reserve retirement pay in April. I am considering employment as a Federal Aviation Association air safety inspector when I retire from my airline job, perhaps this year. I’ve been told by a friend at the FAA that all of my active-duty time plus my time at the service academy will count toward…

Military buyback

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Q. I am a FERS employee considering buying back my service time. I retired after 23 years in the Army. I’m 49 years old and have five years of federal time as of 2013. Would it be in my best interest to buy back my military time and put it toward federal retirement? What would be the impact? A. Here’s the upside. If you make a deposit to get credit for your active-duty service, you’d have 28 years of creditable service. If you retired at your minimum retirement age (56), you’d have 35 years of service and your annuity would…

Combining military, civilian service

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Q. I have 20 years of active-duty service (Army E-6) and have just retired (actual retired date will be Dec. 1). I have been hired by the federal government as a GS-11. Would it be financially beneficial for me to buy back my military time and contribute it to my federal civilian retirement down the road? If I buy back my military time, will that 20 years allow me to retire from my civilian position early, maybe in 10 years with a total of 30 years of service? What is the impact or consequence of this on my military retirement?…

Military buyback

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Q. After serving 15 years of active duty with the Army I ETS’d to pursue a federal position (FERS) and continued my military career as a reservist. I’ve bought back the 15 years. I was involuntarily mobilized and attained enough active duty to retire under the sanctuary program. What happens to the 15 years that was already bought back as a reservist prior to retirement? A. If you retired from the Reserve, that will have no effect on your FERS retirement. You’ll get full credit for the time for which you already made a deposit. If you want to get…

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