Q. I am 58 years old, and I have a service date of 1975. I am under the Civil Service Retirement System. I recently retired from the military after 33 years of reserve service (no active duty service over 90 consecutive days). My reserve pay was subject to Social Security withholding. What impact will my military reserve retirement pay have on my CSRS annuity? Will my CSRS or military retirement be subject to a reduction, or do I have to redeposit money? How do I determine whether I have to redeposit any money? Do I still get to Social Security at…
Browsing: reserve retirement
Q: I am trying to determine if it’s worth buying back my military time. I retired from the Army in October 2009 with about 14 years active-duty and 17 years reserve service, including two mobilizations for Operation Iraqi Freedom. I also receive a Veterans Affairs Department disability check after my last deployment. I should begin receiving my military retired pay in April 2016 based on the “90 days for 90 days” rule for being mobilized after 2008. I work for the Veterans Health Administration. I was hired in November 2010, and I have no other federal service. What benefit would…
Q: If I buy back my military time, can I collect both military retirement and Federal Employees Retirement System benefits? My situation is this: I am 58 years old, and I started a job with the federal government Sept. 26, 2010. My prior military service consists of nine years on active duty and 14 years in the reserves. I have submitted the forms to the Defense Finance and Accounting Service and have received my cost calculation to buy back my active-duty years. I am eligible to collect my military retirement when I turn 60. I plan to continue working for…
Q: I served eight years on active duty in the Army and then went into the National Guard. While in the National Guard, I began working for the federal government. I bought back the eight years of service in the Army and plan to draw a federal pension as well as a National Guard retirement. Will either retirement offset the other? A: No, there wouldn’t be any reduction. You’d get the full amount of each retirement benefit.
Q: If I buy back my active-duty military time to put it toward my Federal Employees Retirement System retirement, do I then lose that time toward my Navy Reserve retirement? A: No. Making a deposit for your period(s) of active-duty service will have no affect on reserve retired pay. You’ll get full credit for that time.
Q: I served in the Air Force from 1971 to 1977. In 1977, I joined the Air National Guard. I retired from the ANG in 1991 with 20 years of service, including the six active-duty years. In 1977, I also got a job with the federal government as a civilian employee under the Civil Service Retirement System. In 1986, I payed back my six years of active-duty military time to receive credit for them under CSRS. I am planning to retire in 2011 from the federal government with 40 years of creditable service in CSRS, including the six years bought…
Q: I am a dual-status Army Reserve technician about to retire, and my Federal Employees Retirement System workers and I are confused as to whether we can receive both the Social Security supplement and our Army Reserve retirement money without deductions taken from either amount. For example, I will retire at age 56 under FERS, which qualifies me for a Social Security supplement of $1,045 until age 62. I also become eligible for the Army Reserve retirement check for about $1,500 at age 60. So far, no one can tell me whether we will lose part of our our supplement;…