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-   -   Military Time vs FERS (http://www.calguns.net/calgunforum/showthread.php?t=455061)

oldsmoboat 07-13-2011 12:00 PM

Military Time vs FERS
 
Would time in the military transfer to time in the Federal Employee Retirement System?

IE: You do 5 years in the military and then get a Federal job. Does your FERS time base start at 5 years or 0?

PyroFox79 07-13-2011 4:33 PM

I was told during the separation classes that it does count if you get a federal job. Something along the lines that the military is a federal job and being a civilian federal employee is a continuation of federal employment. If that made any sense.

dustoff31 07-13-2011 5:41 PM

Unless things have changed, you can buy into FERS for a certain amount per year of active federal service. They can tell what it will cost you after you are hired.

You also get credit for "time served" in regard to accumulating vacation pay. Don't remember what the numbers are, but for example a person hired off the street would get say, 4 hrs of vac per pay period. You would get say 6 hrs per pay period.

Wickedflava 07-13-2011 5:47 PM

sort of, you can elect to "buy" your military time back. basically, you still must complete whatever your agency designates is the minumum retirement age, but if you served 4 years active duty and you elect to buy those years back, you will have an additional 4 years added onto your retirement.

chris 07-13-2011 8:38 PM

Quote:

Originally Posted by oldsmoboat (Post 6763865)
Would time in the military transfer to time in the Federal Employee Retirement System?

IE: You do 5 years in the military and then get a Federal job. Does your FERS time base start at 5 years or 0?

Quote:

Originally Posted by Wickedflava (Post 6766193)
sort of, you can elect to "buy" your military time back. basically, you still must complete whatever your agency designates is the minumum retirement age, but if you served 4 years active duty and you elect to buy those years back, you will have an additional 4 years added onto your retirement.

as being a federal employee now. you should buy your time back from active. it is interest free for 3 yrs. all you have to do is send in your dd214 and another form that i cannot remember at this time. but it is really easy to do. i have to buy my tour back. you have to contact them before and ask to make payments or they will take it our of your whole paycheck. if you have the cash in hand you will find out what it costs and mail in the payment.

this will work out if you only plan on being a federal employee til retirement. it's worth it. it also helps out on your leave (vacation) hrs. that you acrue every pay period. at 15 years you get 8 hrs. and 6 hrs. after 2.5 yrs or so.

hope this helps.

crashbubba 07-13-2011 11:39 PM

Your "buy-back" is 3-3.5% of your active duty base pay for total time served...depends when you served. Pre-1999 is 3% while later years fluctuated up to 3.5%. Each year bought back adds a year service credit to FERS. Depending on your status, that may equal an extra 1% per year bought back. As previously stated, If you're in a 6c covered position, your military time does not count towards retirement eligibility. If you retired from the military you cannot buy it back under FERS unless you waive your military retirement.

You do not need to buy back your years to earn the higher leave accrual. That's based off your service comp date which HR enters based on your DD214.

Info can be found at OPM.gov


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