Q. I’m considering resigning later this year at 54 with 14 years civil service (MRA is 56 years 2 months). I have a 20-year military retirement (retired 2004) and am considering paying the military deposit (estimate $20,000 or so). I also get $660 VA disability (40 percent) that equates to an additional $7,920 per year that wouldn’t be taken from a civilian annuity like it currently is from my military retirement.
If I resign at 54 on a deferred retirement with 34 years creditable service (20 military plus 14 civilian) and don’t start taking the annuity until 60 (when it would be penalty free), would I be able to delay paying the military deposit until right before 60 and continue to get my military retirement until right before my actual retirement annuity would start?
A. Yes, you can delay making that deposit and waving your military retired pay.