If you have an active military pension, then how much is FERS retirement worth?

[dulcius_ex_asperis]

@marc422 Interesting, I didn’t know this was a thing, honestly.

It must be a decent annuity, or else why would retirees go work a GS job (other than the obvious work life balance).

 

[matfletch]

@marc422 A buddy of mine retired E-6 got a GS job, bought back all his military time which dropped his military pension. He is a GS-14 and has 5 years left until he retires.

 

[marc422]

@matfletch How much did it drop? What's their methodology?

 

[matfletch]

@marc422 His military pension dropped to 0. His methodology was he will be making a much larger pension.

 

[godsson01]

@matfletch Can you buy back your military time many years after retiring? Like I retire at 38 and get a gs job till 62. Can I
Buy back my military time at age 62? And will it be all 20 years or does it reduce? Sorry a lot of questions. Hopefully u can answer some

 

[matfletch]

@godsson01 Yes, but if you delay buying back your military time when you start as a GS and wait until you’re close to retire as a GS you’ll have to pay the buy back amount plus interest from when you first started as a GS. Could be a big number.

 

[godsson01]

@matfletch So buy back the moment you secure a gs job, but don't forfeit the actual pension till you retire the gs job. Gotcha

 

[fomor]

@marc422 Wait so I’m a GS, I bought back 5 years, which I thought doesn’t help me retire early in the GS system but adds to my total years of GS service. My national guard RPAM still adds those military years I bought back to military retirement pension amount. So how am I losing my military pension?

 

[marc422]

@fomor I'm a technician at the moment, which is why I asked. A reserve pension apparently doesn't impact a FERS one, and that's spelled out in the link above. But if you get enough points/orders, it would become something to think about, which is why I'm curious exactly what that would look like.