Readers' Comments
Total Comments: 11
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Deposits and Redeposits of Retirement Money for FERS Employees
Total Comments: 11
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| Close | Change | YTD | |
| G | $12.7116 | +0.0013 | +3.51% |
| F | $12.1775 | +0.0497 | +2.07% |
| C | $9.4002 | -0.9235 | -43.24% |
| S | $10.4051 | -1.2566 | -47.42% |
| I | $12.2414 | -0.9997 | -50.56% |
| Close | Change | YTD | |
| L 2040 | $11.1768 | -0.8749 | -38.72% |
| L 2030 | $11.4481 | -0.7783 | -34.24% |
| L 2020 | $11.8446 | -0.6618 | -28.86% |
| L 2010 | $13.2444 | -0.3625 | -14.33% |
| L Income | $12.4113 | -0.2200 | -7.86% |
December 2, 2008
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FERS Redeposit
FAA
Mon Jul 7, 2008 10:28 PM
Post Reply
I also withdrew my retirement about $2000.00 when I left federal service in 1988. I had four years service at the time. I lost forty eight months and received $41.00 for each month I lost. I was not informed then and today cannot believe the extraordinary penalty for my uninformed decision. I must work those four years again just to become eligible for retirement. I also have to keep my medical certificate for those last four years as an Air Traffic Controller to reach retirement. Assuming, I make it to retirement, I will lose 4 percent of my annuity for the rest of my life. Should I live to seventy- five, my loss of annuity will be in excess of eight thousand dollars. I cannot fathom congress would intend a penalty this harsh for such a minor mistake. This is like getting a $50,000 thousand speeding ticket except I didn't actually break in laws. All I did was withdraw my money from my retirement account assuming I could pay it back if I returned to the federal service.
WHAT IS THE CORRECT FORM FOR FERS DEPOSITS
DFAS INDIANAPOLIS CENTER
Thu Sep 18, 2008 11:28 AM
Post Reply
I work under CSRS for over 10 years, left the goverment and return within 3 years. I was told that I had to go under FERS. After protested going under FERS, was told by HR that I had to go under FERS. About 10 years later I received a letter from HR stating that they made a mistake in not giving me the option to go under CSRS. I decided to stay under FERS. Three years ago I deposit military time 09/12/1968 to 09/12/1972, was told to use SF3108 FERS. This year I check on my retirement plan with the HR representative. At that time I decided to repay temp time from 09/20/1972 to 11/10/1972 and 12/04/1978 to 03/25/1979, was told to fill out SF3108. After 2 weeks I received a call from HR stating that I needed to reapply using SF2803 CSRS and that my military deposit needed to be recomputer using CSRS SF2803. Well what form should I use? On FERS SF3108 under Who Should Use This Form, it said if in FERS and want to repay CSRS time. I plan to retire on 12/31/2009