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Retirement Planning


Whether you are close to federal employee retirement or just starting out in your career, this is the place to share ideas with your federal colleagues on creating a secure financial foundation.


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roger.d  
#21 Posted : Saturday, December 9, 2017 6:52:52 PM(UTC)
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Originally Posted by: someoldguy Go to Quoted Post
Originally Posted by: roger.d Go to Quoted Post
Contact your VSO. Info is in my previous post.

Went to that site, nothing for my county. I do know a guy who said the local VFW helped with his disability claim.


Did you check your neighboring counties? Contact the State office to see if they have someone nearby that is not listed?

Learn to discipline yourself, so someone else doesn't have to
burnedout  
#22 Posted : Thursday, December 21, 2017 9:47:46 AM(UTC)
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I served 18 years in the reserves and 5 and a half active but only bought the active back.Ithink it would be very complicated to try to buy back your reserve time.
KeystoneKid  
#23 Posted : Tuesday, January 23, 2018 11:57:06 AM(UTC)

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What bothers me is that you are charged interest on the unpaid amount you owe! That interest reflects on the number of years you served in the military and the time between discharge from active duty and when you begin to start paying the military deposit back. In my humble opinion, it's like the feds are penalizing you for serving your country. I can't really think of another way to look at the penalty.

In a similar way, if you worked in the private sector long enough to earn your 40 quarters/credits to be eligible for Social Security, and you retire from federal civil service, your Social Security benefit will be reduced by what they call the WEP (Windfall Elimination Provision). So in this way, it's like the feds penalize you for working and earning Social Security benefits in the private sector.

Same goes for retired military who work civil service and retire from it.

My philosophy is that you should get paid for what you earned. Some call all that "double dipping". I don't care if it's "triple dipping". If you worked for it you earned it and you should be entitled to the normal full benefit of each. I had the chance to stay in the military but chose to get out after the end of my enlistment. That was a decision I made. Don't penalize those who stuck it out in the service of our country and then worked and retired civil service also. They retired military deserve much more than a paycheck and they dam well earned it in my opinion!
frankgonzalez  
#24 Posted : Tuesday, January 23, 2018 12:29:48 PM(UTC)
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Originally Posted by: KeystoneKid Go to Quoted Post
What bothers me is that you are charged interest on the unpaid amount you owe! That interest reflects on the number of years you served in the military and the time between discharge from active duty and when you begin to start paying the military deposit back. In my humble opinion, it's like the feds are penalizing you for serving your country. I can't really think of another way to look at the penalty.

In a similar way, if you worked in the private sector long enough to earn your 40 quarters/credits to be eligible for Social Security, and you retire from federal civil service, your Social Security benefit will be reduced by what they call the WEP (Windfall Elimination Provision). So in this way, it's like the feds penalize you for working and earning Social Security benefits in the private sector.

Same goes for retired military who work civil service and retire from it.

My philosophy is that you should get paid for what you earned. Some call all that "double dipping". I don't care if it's "triple dipping". If you worked for it you earned it and you should be entitled to the normal full benefit of each. I had the chance to stay in the military but chose to get out after the end of my enlistment. That was a decision I made. Don't penalize those who stuck it out in the service of our country and then worked and retired civil service also. They retired military deserve much more than a paycheck and they dam well earned it in my opinion!
Let's be accurate:
The interest is not from the time you get out and begin to buy it back. It is the time from the moment you begin working as a federal employee and then decide to buy it back.

And, you may want to look up the rules regarding the rest. WEP only applies to CSRS employees. Us FERS types have Social Security as part of our retirement plans.

And, us military retirees can collect our mil pension, VA disability (over 50% rated) and social security and our FERS retirement (looking at being a quad-dipper if all goes well personally).


You should have voted Cthulu...the greatest of all Evils
someoldguy  
#25 Posted : Wednesday, August 21, 2019 1:47:08 PM(UTC)
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I have learned quite a bit about the process of making a "military deposit" to "buy back" military time toward federal retirement. Maybe others already knew all this, but I thought I'd post it here on this old thread... the more recent military buyback threads had to do with Medical retirements and buyback and stuff.

ANYWAY...

I thought the big obstacle would be getting the Estimate of Earnings from DFAS. Turns out that was actually pretty easy, at least in my case. I had to send this huge packet via fax since I could not get in touch with anyone to get an email address, but I did get my estimate. Only took a couple of weeks, too.

BUT NOW...

My AGENCY wants all that stuff all over again! And they want some kind of verification that I actually performed the active duty... won't take LES's. They showed me some kind of form that other people had submitted and it was unlike anything I had ever seen. Plus we're talking various periods of active duty going back to the mid-80s.

The active duty periods that I had a DD214 for, no problem. Easy peasy. Its all the other AT/ADT/ADOS/ADSW/etc etc etc that I piled up over the years. I'm not going to try to get every last day but at least active duty period over two weeks long.

I was in the Army so I'm going to try to get something from HRC.

So if you think DFAS is the big hurdle... well, maybe it is... but it is not the ONLY hurdle!

Edited by user Wednesday, August 21, 2019 1:53:48 PM(UTC)  | Reason: Address comments from first level review

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10years2retire  
#26 Posted : Thursday, August 22, 2019 5:49:37 AM(UTC)
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Originally Posted by: someoldguy Go to Quoted Post
I have learned quite a bit about the process of making a "military deposit" to "buy back" military time toward federal retirement. Maybe others already knew all this, but I thought I'd post it here on this old thread... the more recent military buyback threads had to do with Medical retirements and buyback and stuff.

ANYWAY...

I thought the big obstacle would be getting the Estimate of Earnings from DFAS. Turns out that was actually pretty easy, at least in my case. I had to send this huge packet via fax since I could not get in touch with anyone to get an email address, but I did get my estimate. Only took a couple of weeks, too.

BUT NOW...

My AGENCY wants all that stuff all over again! And they want some kind of verification that I actually performed the active duty... won't take LES's. They showed me some kind of form that other people had submitted and it was unlike anything I had ever seen. Plus we're talking various periods of active duty going back to the mid-80s.

The active duty periods that I had a DD214 for, no problem. Easy peasy. Its all the other AT/ADT/ADOS/ADSW/etc etc etc that I piled up over the years. I'm not going to try to get every last day but at least active duty period over two weeks long.

I was in the Army so I'm going to try to get something from HRC.

So if you think DFAS is the big hurdle... well, maybe it is... but it is not the ONLY hurdle!



Being in the reserves, I provided the AD/ADT orders that I had kept in a file for future use.
someoldguy  
#27 Posted : Thursday, August 22, 2019 3:22:36 PM(UTC)
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Originally Posted by: 10years2retire Go to Quoted Post
Being in the reserves, I provided the AD/ADT orders that I had kept in a file for future use.
If you read my somewhat long and rambling post, you'll see that I did exactly the same thing... and it was not accepted. DFAS took the orders and LES's but my agency wants more.

Thanks for the reply.

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