Q. I am employed with DHS since November 2005. I was previously employed by the USSMA at Kings Point as a coach, from September 1990 till the end of the season in March 1991. Is it possible to purchase back this time? If so, how would I do that? I can not recall my salary. It was only a few thousand dollars. I assume it was considered a part-time position. A. Unfortunately, you can’t get credit for that time. Non-deduction service performed on or after Jan. 1, 1989, isn’t creditable for either eligibility or computation purposes.
Browsing: creditable service
Q. I made a deposit on temporary civil service time performed in 1983. Will that time count toward the 10 years needed for the FERS MRA+10? I read military buyback doesn’t count toward the minimum 10 years, but I’m not seeing an article that mentions the buyback of federal temporary time.
Q. When I started in August of 1984, I was placed under FERS even though FERS wasn’t put in place until 1987. I read that if you didn’t pay into FERS then that time didn’t count. I don’t remember if any deductions were taken toward my retirement during those years. Does my time from 1984-1987 count toward my creditable service?
Q. I work for the postal service. Can I buy back the time I was on workers’ compensation? Does it count toward my retirement? A. Because you weren’t approved for disability retirement, the time you spent on workers’ compensation will be treated as Leave Without Pay and will be fully creditable for determining your length of service and used in the computation of your annuity. No deposit is required for you to get than credit.
Q. Is there any way for me to opt out of the Basic Benefit offered in FERS? I just started at work today as a GS employee. I did not realize that the Basic Plan will require me to contribute 4.4 percent of my income to a retirement plan that pays 1 percent per year served. Please check my math. Does that mean I will have to draw retirement for a minimum of 4.4 years before I break even on these payments? That is without considering any growth rate on these funds.
Q. I’m in the FERS program. Do you know how many years of service are required in order to be vested? If I leave government service after almost eight years, will I be vested in my TSP and annuity? Will I receive a pension? A. You’ll be vested in the retirement system when you have five years of full-time service. If you leave your contributions in the retirement fund and leave government, you’ll be entitled to a deferred annuity at age 62.
Q. Once I get vested after five years of being in the federal system, and perhaps I leave the job a month later. Where can I find, or how can I calculate, how much I’ll get when I retire? A. If you leave you contributions in the retirement system, you’d be entitled to a deferred annuity at age 62. That annuity would be computed using this formula: .01 x your high-3 x your years and full months of service.
Q. If a person is in a voluntary LWOP for a period of time and then returns to active service, is the service time necessary to meet retirement qualifications affected? For instance, if a person went on LWOP for three months does that time need to be made up in order to meet a minimum service requirement? A. No, it doesn’t. You can be on LWOP for up to six months in a calendar year without it affecting your creditable years of service.
Q. I have been a federal employee for Homeland Security for 6-1/2 years. I have been medically disqualified from my job. I am going to try to get disability. I have worked full time for the first 4-1/2 years, and went part-time down to 25 to 30 hours a week. Will they use the highest three salaries, even if when discharged I was working part-time for the agency? How does the calculation work for this situation? A. An employee’s full-time salaries are used in determining his high-3, even if he is in a part-time position.
Q. I went to work for the federal government in 1974 under CSRS and worked until 1984, when I resigned and drew my retirement out. I returned to federal service in 2007 under FERS. I will have 20 years service counting military next May 4th. How will drawing my retirement out affect my retirement check? A. Although you got a refund of your retirement contributions before October 1, 1991, you’ll still get credit for that time in determining your length of service; however, your annuity will be actuarially reduced based on the amount you owe, including accrued interest, and your…