Federal employees who have activity military service can receive credit for their military service time to be added to their years of civil service with the government to increase their retirement annuity. The rules are different for CSRS and FERS employees. FERS employees must make a military deposit to receive credit for military years served once they retire.
Eligible veterans may apply for up to two (2) years once they are hired with no penalty. After that point, they will be paying an additional interest charge per year on what they may owe to buy back their years. The eligible military service time is added to their retirement date immediately upon finalizing their buy back process.
Something to keep in mind is that while a military buyback does not affect other military benefits such as medical benefits, base access, commissary, or Veterans Affairs (“VA”) military benefits, including disability payments from the VA, it does affect active duty retired military pay. You cannot receive two (2) separate retirements (military and civilian) for the exact same period of service.
The attorneys at Melville Johnson, P.C. have expertise in litigating Military Deposit and Buyback matters, and are willing and able to assist you with your legal needs. Call or message us today to discuss your claim and learn how we can assist you. Call or message us today to discuss your claim and learn how we can assist you.