Q. I have eight years and 10 months of federal time and 20 years of active-duty service for which I’m receiving military retired pay. Can I buy or use a portion of my military time to make up 10 years? Would that increase my retirement substantially? I’m told I would receive retirement going back to age 62 to now — I’m 64.
A. You have a choice. You can continue to receive your military retired pay and continue to work until you have 10 years of civilian service, or you can make a deposit to get credit for your 20 years of active-duty service in determining your total years of civilian service and have them included when computing your annuity. However, at retirement, you’d have to waive your military retired pay.