Enough time to earn retirement pay?


Q: From January 1990 through August 1993, I was a Treasury Department adviser to Saudi Arabian Ministry of Finance. During that tenure, I purchased credit in the retirement system for the three years of active duty in the Navy (1967-1970). So, I have something slightly in excess of 6.5 years in the system. I am now 67 years old and self-employed.

My questions are the following: Do I have sufficient time in the Treasury Department’s retirement system to draw a monthly stipend? If so, who would I contact to start these benefits? If not, how much more time as a government employee would be required to meet the minimum?

A: Assuming that you did not take a refund of your retirement contributions and the money you deposited for your active-duty service, you could retire now and receive an annuity. Anyone with five years of creditable service can do that when he reaches age 62. To apply for an annuity, you’ll need to fill out a copy of Standard Form 3107, Application for Immediate Retirement, and send it to the Office of Personnel Management.


About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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