Federal Retirement

[1depd]

I've been looking into a federal LE job, whether it 6-c retirement or not. I have a few questions. I had asked an HR person all they could do was refer me to the FRS manual (I already looked there). I have miltary time. I know the military time counts immediately for vacation hours. I have questions about how purchasing this time for retirement works.

Does it cost more for the credit in a LEO retirement than for the non-LEO retirement?

Is the purchased time just added to the time worked or can it be subtratcted from the time required? Example: LEO retirement is 25 and out (I know about the other option, but it doesn't apply). If I purchase say 10 years does it change the time worked as a FLEO to 15 and out for a total of 25 years, or will I still have to work the 25 and have the 10 years military time added at the end for a total of 35 years.

I greatly appreciate any information you can provide.

[FSCF3801]

Which agency???

[1depd]

I haven't narrowed it down yet. All of the ones I've looked/applied at were covered by FRS.

[Swat1]

Your' military time can be bought back by you at any time in your fed career, however, if you wait longer than 3 years to buy it back you will pay interest on the payments. So my advice is to buy it back immediately. You can set up payments and the cost is very reasonable. I bought back 8 1/2 years for just under $3000. There is no difference in cost between LEO and non-LEO.

It adds on to your retirement. If you are 6c covered you can retire at 20 years but not before the age of 50 and must reach 20 years by the age of 57. That is why 6c covered agencies have a hiring age cutoff of 37 years old.

Your military time adds on to your retirement time giving you a higher percentage of your "high 3" years. For me the 8 1/2 years will come out to much much more than $3G's.

Your military time does not count toward your 20 year retirement it adds on after.

Swat1*

[1depd]

Thanks that answers it. One more question is it the same with the non-LEO, it's just an add on?

[tomahawk134]

Yes

[Ironhead]

I bought if back in a non-6c FRS position. I paid a smidge over 1000 for 3 years 9 months.

As I recall it is 3% of your total military salary. BEQ/BOQ Housing and other allowances are not included.

The time you purchase counts towards vesting as well as final benefit. So - In theory ....... if you have more than 5 ywears military service to buy, but not enough to draw a military pension, I believe that you can take a Federal job, buy your time back, make sure you are counted as being vested and then quit and you have a small pension payment coming to you at some point down the road. If you could take leave from your current job without giving up the position, you could probably do it. Your vesting requirement for FRS is seperate from any probation you have to fufill.

[jvale00]

Hey Tomahawk, forgive me if this sounds redundant, but if I buy back time in a non 6c job then go to a 6c job I still have to put 20 years in then I will retire a 25 year employee?? Thanks for the info!

[1depd]

Ironhead--I was bored one night and figured out what I'd have to pay for my military time. It worked out to about the same for the entire 10 years service for the federal retirement that I'd pay for one year in my current retirment system.