The following is a question submitted by a reader to Federal Times columnist Reg Jones, a charter member of the senior executive service and the resident expert on federal employee retirement issues.
A Fed Times reader asks:
“I currently have four years of creditable service in FERS. I am buying back 15 years and seven months of military time.
If I decided to leave civil service and file for deferred retirement at age 60 or 62, will the 15 years seven months count towards the five-year requirement?”
Reg’s response:
First things first: You have to have five years of actual FERS service to be vested in the retirement system.
Once you are vested, you can make a deposit to get credit for your all active duty service. If you did that, you’ll have at least 20 years of creditable service and could apply for a deferred retirement at age 60.
Got a question for the Federal Times expert? Send inquiries to: fedexperts@federaltimes.com.
