All Branch Topic (ABT) GS retirement

[Perrotfish]

If I transition from military service to being a GS employee, does anyone know if my time in the military counts towards a GS retirement? I am coming up on a decision point soon, and the idea of only being 13 years from earning a pension would be worth considering.

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[HighPriest]

I am no expert on the matter, but my understanding is that you can buy back your time.

Military Buyback - Does It Make Sense to Buy Your Time Back?

PS - I don't know how accurate that source is either, but maybe it'll help you find the info you're looking for.

 

[Perrotfish]

I am no expert on the matter, but my understanding is that you can buy back your time.

Military Buyback - Does It Make Sense to Buy Your Time Back?

PS - I don't know how accurate that source is either, but maybe it'll help you find the info you're looking for.

This is so friggin complicated.

So it looks like I can, in exchange for a cash payment, give myself 7 years in service towards a GS retirement. What I'm not clear about is whether that means I am actually 7 years closer to retirement at 20 years (I know the pension wouldn't start until 62 for GS but you earn it 20 years in) or whether I would still be 20 full years away from a pension and the pension would just pay more.

 

[Gastrapathy]

No 20 year requirement for GS. 5 years GS to qualify and you'd have 12 years at that point at 1% per year.

 

[Shikima]

If I transition from military service to being a GS employee, does anyone know if my time in the military counts towards a GS retirement? I am coming up on a decision point soon, and the idea of only being 13 years from earning a pension would be worth considering.

Yes, you'll need to contact HR to "buy" your time back towards your GS retirement.

 

[68PGunner]

This is so friggin complicated.

So it looks like I can, in exchange for a cash payment, give myself 7 years in service towards a GS retirement. What I'm not clear about is whether that means I am actually 7 years closer to retirement at 20 years (I know the pension wouldn't start until 62 for GS but you earn it 20 years in) or whether I would still be 20 full years away from a pension and the pension would just pay more.

When I was in the service, a lot of docs ETSed and got private practice jobs until their early or mid 50s.

Afterward, they work at a med center for 5-10 years and earn that extra retirement GS check at the age of 60-62. In your case, an extra 12-14% of 220K/yr for the rest of your retired years isn't that bad of a deal.

You will also get 4-5% TSP matching on top of that.