Readers' Comments
Total Comments: 17
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Deposits and Redeposits of Retirement Money for FERS Employees
Total Comments: 17
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| Close | Change | YTD | |
| G | $13.3609 | +0.0019 | +1.84% |
| F | $14.2053 | +0.0462 | +6.53% |
| C | $13.2035 | +0.0008 | -0.11% |
| S | $17.4727 | +0.0439 | +6.15% |
| I | $17.6449 | -0.1281 | -4.81% |
| Close | Change | YTD | |
| L 2040 | $15.7814 | -0.0140 | +0.94% |
| L 2030 | $15.6316 | -0.0119 | +1.11% |
| L 2020 | $15.5072 | -0.0103 | +1.22% |
| L 2010 | $15.4959 | +0.0004 | +1.81% |
| L Income | $14.1434 | +0.0004 | +1.89% |
July 30, 2010
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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
CSRS redeposit
VHA
Mon Jan 26, 2009 10:26 AM
Post Reply
I worked in the early 1970's for total of 4 1/2 years CSRS, mostly career, but, some of which was intermittent employment. I returned to the VA in 2001. I contacted OPM and redeposited $4,400.00 (original amount at resignation was about $2,000.00). I will have 56+12 July, 2009.
How can I be sure that the 4 1/2 years will count for my retirement? I have heard conflicting stories about what is eligible and what is not eligible.
what about the new legislation for FERS
Treasury
Fri Jan 29, 2010 8:18 AM
Post Reply
But what about the new legislation that was passed that includes FERS buyback? Is it grandfathered or does it only take effect for those who return to Federal Service after the law was passed in Oct 2009?
our loss
USDA
Fri Jan 29, 2010 8:46 AM
Post Reply
Reading these comments you can really see the price we have paid for the elimination/consolidation of HR. We didn't just lose the positions, we lost the necessary knowledge to help staff throughout their careers. This do-it-yourself HR we have now is a shame. I feel sorry for newer employees - who know what is going to happen to them?
Making Payment to OPM
TSA
Fri Jan 29, 2010 11:12 AM
Post Reply
I made my deposit to OPM in July for service in 1965. I have not received a receipt, which is needed to send to TSA HR for credit. Do you know who to contact at OPM for this receipt? There is no clue on the Statement sent for the payment due, which was paid in a lump sum in July, 2009.
Buy back years
DoDEA
Sun Jan 31, 2010 4:48 AM
Post Reply
I am more than willing to buy back the years I have been told I need to pay for, getting somebody to tell me how many years and how much is the problem. I have written to the Records trying to get copies of my early LES's (I think the time is from 1980-1985), that was months ago. All I have been told is that I DO have some time to buy back.....just doesn't seem to be any way to do it.