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…
Browsing: waive military retirement
Q. I am about to retire under CSRS, under which I have worked since 1977. I am now receiving a disability pension from the Veterans Affairs Department for a service-connected disability. I was on active duty from 1969 to 1973. In the past, I had received my disability pension from the military. I have been told that my records show that my military time will count toward my CSRS retirement, but I have to pay for my military time. I see that in the Effect of Military Retired Pay section of OPM Form 1515, for my military service to count…
Q. I am a reservist eligible for an active-duty retirement (21 years active duty and four years reserve duty). I have not retired yet. If I obtain a federal civilian position prior to retiring from the Reserve, will I be eligible to buy back my 20+ years of active duty? Or does the fact that I am eligible for an active-duty retirement (i.e. will receive retired pay immediately after retiring from the Reserve) make me ineligible to buy back my military time? A. Yes, you could make a deposit to get credit for your active-duty service. However, to get credit…
Q. I retired in 2000 with 20 years of active-duty time. I spent the next 10 years collecting a pension (E-6) and working as a contractor. I’ve been working in the federal government for the past two years as a GS-12, Step 10. Would it make sense for me to put the amount of cash necessary to retire at 30 years by buying back my 20 military years? Am I even eligible to do this? Would I have to do it now? A. Yes, you can make a deposit for those 20 years of service, However, when you retire, you…
Q. I am a FERS employee and a disabled vet. I was given a medical retirement for injuries I received during my tour of duty in the Navy in 1972-75. I waived my military retirement in lieu of a Veterans Affairs Department pension about 15 years ago. I have made the service credit deposits required so that my military time will be credited to my FERS retirement. I recently attended a retirement seminar and was told that I will have to sign a waiver of military retired pay when I file for my FERS retirement. Does this mean I will lose…
Q. I bought back active-duty time as a FERS employee and a reservist. Afterward, I was involuntary mobilized and served enough years as a reservist to receive an active-duty retirement (sanctuary program). I have since than returned as a FERS employee. What happens to the previous military time I bought back when I was a reservist? Am I able to keep it without having to waive military pension since it was bought back when I was a reservist? A. No, your entitlement to military retired pay changed the game. If you want to get credit for your periods of active-duty time, you’ll have…
Q. I have seen some questions recently concerning federal annuities and waiving military retired pay. Iis there any benefit in doingso? Why would anyone want to do this? Is it better to get one check or two? A. It’s worth it if making a deposit and waiving your military retired pay results in your being able to retire sooner from your civilian employment with a larger annuity than two separate ones would provide. You need to make the decision based on what you gain when compared with what you lose. Note that waiving your military retired pay will not affect any other entitlements you have…