Military Buyback: A Smart Move for FERS Retirees?
Should FERS retirees buy back their military service time? These are some condsiderations.
Deposit Service
Make Military Deposits to Increase Spousal Benefits
Military deposits can increase spousal benefits if a federal employee passes away before or after retirement.
When Should I Make a Deposit for My Military Time?
Federal employees may be able to receive retirement credit for their military service.
How a Military Deposit Affects Your Retirement
How does a military deposit affect your retirement, and should you buy back your military time?
The Federal Retirement Process
The author describes the retirement planning process for federal employees under both FERS and CSRS.
Bill Would Expand Retirement Options for Some Feds
A bill in Congress would allow a buyback for time working as a temporary employee to count toward federal retirement payments.
New Law Allows Agencies to Pay Interest for Mistakes on Military Service Deposits
A new law would authorize agencies to pay interest to federal employees on mistakes made in calculating military service deposits.
CBO Estimates Costs of Veterans’ Pension Legislation
CBO offered an analysis of what it would cost the government to pay for computational errors affecting veterans’ military service deposits and pensions.
Bill Would Require Agencies to Pay Accrued Interest Resulting from Veterans’ Pension Payment Errors
Recently introduced legislation would protect veterans from having to pay back interest resulting from agency mistakes in the calculation of certain benefits.
Deposits and Re-Deposits Under FERS
OPM calls temporary time and other time for which retirement deductions were not taken “deposit service”. Under FERS, deposit service will not count for either your eligibility to retire or in the computation of your annuity unless you make a deposit. The author provides examples of both deposit and re-deposit service to illustrate the impact they have on your pension.
