Return to Article: Buying Retirement Credit
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89481
Is there an online calculator that shows how the numbers work? I'd like to do the math myself and getting an idea of what my retirement might look like before moving forward with my HRO. I'm under the FERS system now for two years and separated from the military after serving almost nine years active duty. Also received my documents back from DFAS with their computations of my base salary during that time. The OPM website leaves a lot for interpretation. Thanks in advance.
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86838
I need to start repayments and have some different addresses as to where to send the payments. No luck with OPM or DFAS today, so perhaps someone out there could help. It sounds discouraging however that someone did start to repay and has not gotten any further communication!
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84673
I am currently working as a CSRS employee with 29 years of service with the USDA. I am curious about the service time I had with the USPS as a RCA, (rural carrier substitute) Should I get credit time for retirement for the part-time work as I was working full time with the USDA simultaneously. I worked leave days and Saturdays with the Post Office.
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80721
I made a payment for nondeduction service in August 2008 and have yet to receive a statement or acknowledgement of my payment, much less a statement of the current status of my CSD account. Everytime I call OPM I get the same response: "Our system is down and we can't send out new statements until the system is restored to service. We are only processing statements manually for people who plan to retire in the next week."
Since I've had several conversations with the folks in this office, I know they are working very hard to deal with a next to impossible accounting situation, but I can't believe OPM management is allowing this situation to perpetuate. I need confirmation that my payment has been properly credited, so I can continue my upcoming retirement plans. Am I the only person being inconvenienced by this?
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69048
The question to answer is not how much the annual difference will be, as to whether or not to make a deposit. But to calculate how many months of being able to retire that much earlier it will take to cover the cost of the deposit.
Example: If you owe $1000 for 5 years of service that would allow you to retire today, and the retirement benefit amount will be say $500. It will take you 2 months to recoup the cost of the deposit. It may result in only $100 annual difference. But you get to retire 5 years earlier!!! (numbers are for demonstration purposes only)
If you don't make the deposit, you have to work 5 additional years, to get that same $500 a month benefit.
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69031
I am a CSRS Offset employee paying back 2 years I worked as a Temporary Employee. I paid to Social Security as a Temp Employee and was not allowed to pay to CSRS even though I already had 10 years service in. Now that I am a permanent employee as come under CSRS offset, my retirement is paid into Social Security vice CSRS, it seems unfair that I have to pay into both retirement systems for that time I was a temporary employee (I paid SS when I worked and now I am reimbursing CSRS). My retirement rate was in effect doubled due to being a temporary employee. Do you see any relief for CSRS offset employees in this instance?
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63697
Note how complicated the issue is and do not trust your Personnel Office to give you a totally correct answer - go op the OPM site and download everything you can to read before you commit. My HRO calculated the amount I owed to buy back some ten years of military service divided up into three seperate periods. I told them that the figure they gave me was way too low but they dismissed me as an irritant and I paid what they asked. When I retired OPM caught my HRO's error and my ex-agency has had to cough up a rather large amount of money to pay the difference between what they calculated and what the amount should have been, It's all generously in my favor but it's taken over 9 months,I am still not getting my full retirement, and it may take more time before this is all corrected. If I didn't have other sourcs of income I'd have been in a bad position. Check your HRO's decisions through other means or you may find yourself in a jackpot.
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47480
When I requested a pre-retirement review of my OPF last year, I was stunned to find I had some service from which retirement deductions had not been made. I elected to pay the $4,000 required to get credit for all my service. The $4,000 is probably not tax deductible, but I'd hate to find out later that it is. I'm not having any luck reaching an IRS specialist and came up empty doing an internet search. Do you know the answer? I'm sure there must be others in the same boat. Thank you.
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47095
No one informed me of the military buyback option when I hired on in civil service. My Service Computation Date (SCD) was consistent with my actual start date, adjusted for military and intern time. Thanks to Govexec, I found that my SCD was used for leave earning calculations and not necessarily retirement. I did some checking with my local HRO and bought my military time (based on military earnings, plus interest), but now I find my intern time doesn't count and can't be bought. Good thing I found out now or I would have been in for a shock when I got my retirement checks.
Thank you GovExec!
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46676
I was in the Navy from 1974 thru 1980 and have worked for the Postal Service since 1981. I've just recently been made aware of this buy back thing for military service. Am I to understand that this amount has been growing since then? And that it is just growing and the longer I work now the more I lose on my retirement?
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46485
I also have FERS Nondeduction time worked after 1988. This pushes my retirement date way out there. I've written to Rep. Jim Moran who heads a committee that could turn this around. He was able to get a bill through several years ago that changed nondeduction for certain foreign service employees only. I believe this could be implemented government-wide. In my agency, workers were kept as long-term temporaries in the 1990's as a cost saving measure (no benefits). This was reformed so they can't do that anymore, but those of us victimized still need redress (in my opinion). I know of no organizations or employee groups working to reform this. Does anyone else know?
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46472
I agree it's unfortunate that temporary time (nondeduction service) worked after 1988 cannot be credited to FERS retirement. I as many military spouses have worked many years as a temporary employee overseas as I followed my spouses from one assignment to another; yet I don't currently get any credit for that time served. In many circumstances it was extremely difficult to find a position at any level but more often than not I was forced to take a down grade if even that was available. It's unfortunate that with all the sacrifices military families endure it turned out spouses became cheap labor that filled a great need to the US Government's missions. Although I feel blessed to have gained the experience that came with these positions I find it discouraging to have worked over 20 years in Federal Service to only be given credit for 15 years. I'm only asking to be given the opportunity to buy retirement credit for the time I've had in Federal Service. Does anyone know if there are any action groups that may be addressing these issues with Congress or OPM that I could contact?
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45796
There is never any mention of the adjustment in annual and sick leave for a member when discussing the subject of military buyback.
Assuming you've completed the buyback, do you earn any uncrued leave prior to the buyback? Example: worked for postal svc for 9 years. Decided to make military credit deposits in 10th year and completed the purchase a year later. Will I receive compensation for the leave that would have accrued at the higher rate during those 10 years?
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42236
I served in the Navy and Vietnam from June 1971 to April 1974 and started with the Federal Goverment in April 2007. How do I go about buying back my Military time for retirement.
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35961
My query is very much like another that was submitted 24 Sep 07. I was honorably discharged after being in the delayed enlistment program 10 Apr-13 Aug 74, then serving on active duty 14 Aug 74 - 30 Mar 89. I've worked for the Federal Government from 27 Nov 89 to present, and when hired was automatically put into FERS instead of CSRS, even though I immediately arranged to pay the deposit for my military time. My Service Computation Date for Retirement (SCDR) is 10 Apr 1975. My questions are: should I have been enrolled in the CSRS program based on my SCDR? And if so, can/should I appeal for a change now?
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33688
I served on active duty for 14 years from 7/1/1978 - 7/1/1992. I was honorably discharged and started working as federal employee in 1994. I also served with the US Army Reserve and have acquired 2 years of additional federal active duty time. When I was highered with the government, they automatically put me into FERS instead of CSRS. If I paid my deposite back for my military time of 14 years, why would I not fall into the CSRS program? Should my SCD be 7/1/1978 or in 1994? I paid back into that system as if I was on civilian federal service time.
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23590
Can you provide a web site or phone number where I can start the process to buy my retirement time for when I was a temporary employee?
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23573
My wife worked 7 years as a CSRS employee ending at a GS 14 in 1981. We pulled her retirement when she stopped "working" when the kids were born. Twenty-five years later she is working as a GS 4 (that's not a typo) FERS employee. What are the repayment rules and is it possible this could make financial sence to pay back?
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15034
Deposits for CSRS Offset employees work under the same rules as other CSRS employees. The deposits are considered before the reduction for the offset.
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14981
Tammy, I worked for three years in Athens, Greece in a NAF position for the Army and Air Force Exchange System from 1968 to 1972. Do you know if this can be credited towards my CSRS as I know retirement deductions were taken from my pay and never refunded?
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14950
An example calculation for CSRS Offset deposit service would be helpful.
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14838
Vilma, thank you for the catch on the date! You are correct! I will see about getting the article corrected! Thank you for being observent of the details!
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14797
It's unfortunate that temporary time (nondeduction service) worked after 1988 cannot be credited to FERS retirement. I know many people who have worked many years as seasonals without benefits, but who don't currently get any credit for that time. Using myself as a typical example, I graduated from college in 1989 and started working federal seasonal jobs immediately, but I did not get a position with benefits until 1998. My service computation date is March 1991, but I will not be able to get 30 creditable years for retirement until the year 2028, 39 years after I started work for the feds! But, until all the baby boomers retire, and congressional and OPM focus shifts to those of us following in their footsteps, I don't see a remedy.
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14793
This article is excellent; however, there is an error on the date. The paragraph after Post '56 Military, second sentence which reads "If such service was performed before Sept 1, 1982..." This date is incorrect. It should be Oct 1, 1982. Thus, it should read: If such service was performed before Oct 1, 1982.
Thanks, Vilma
Thank you.
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14785
Thank you for this series of articles. It is most needed.
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