Are there any Federal agencies that give you military retirement plans?

I'm a Marine and was wondering if or when I get out, and work at a Federal Agency like the VA or FAA, will they count the years I have in the Marine Corps and then add the years I could get with them so I can get the 20 year 50% military retirement benefits, or even the 30 year 75% retirement benefits?

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  • Robert
    Lv 5
    7 years ago
    Favorite Answer

    Sort of. You can't double dip (get paid twice for the same service). Any federal government job will add your years as a marine to your total time in service as long as you're not retired. You have to buy in the time for the FERS system so it can cost a little (it can be paid in small increments out of your check). The longer you wait to buy in, the more it costs. I paid $2500 for my 8 years of service that occurred 13 years prior to my federal employment. They took it out of my paycheck in $25 increments until it was paid in full.

    You can do it if you're retired military but you can't collect both for the time you were in the military. That is, you won't get a military retirement and a federal retirement check covering the same period of service. So say you did 25 years (20 military and 5 federal). You won't get your 50% pay and 30 years of federal service credit. You can get your military and 5 federal years.

    You can get your 50% military time and a federal retirement but your retirement pay for federal service would start on the day you start your federal job (minimum 5 years) 1% for every year you work for your highest 3 year average. So say you made $50K in your federal job as your 3 year average. So if you worked 5 years, you'd get 5% of your highest 3 year average ($2,500 per year) in addition to your military pay.

    You can give up your military pay and apply it to federal service pay but you don't collect it until age 62. Most retirees where I work collect the military pay instead of converting it to FERS.

    Source(s): Federal employee with 8 years military service
  • Mrsjvb
    Lv 7
    7 years ago

    sort of.

    any federal government job, your AD service can be used towards your retirement from that agency.

    but only if you buy into the system. there is a formula used to determine how much money you have to pay in order to get your AD service added to your government employment record,

    for instance, my Father did 9 years AD Navy. once he got out he started working for the VA and did over 20 years there. when he bought into the system he retired with over 30 years worth of employment which made his pension a little better even though he only actually worked for the VA about 23 years.

    your retirement is based on the federal or government agency's pension.. NOT the military's.

  • DrZ
    Lv 7
    7 years ago

    If you get a job with any federal agency...your years of service count towards retirement. Now...is the retirement the same as the military...no I don't believe so. But with a little research...you could probably come up with a reasonable assumption.

    Semper Fidelis,

    Z

  • 3 years ago

    i'm unsure some TSP, yet while that's like 401k or IRA, you have a 10% penalty for early withdrawal and earnings taxes based on your cutting-edge bracket. they'll take 30% to 40% withholding. Roll the account over into an IRA the place you may redirect it to something with a greater useful return. once you get to be 60+, you would be happy that funds is there.

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  • Anonymous
    7 years ago

    I work for the Department of the Navy and they counted my time in service. I believe all federal agencies do.

  • Anonymous
    7 years ago

    The federal retirement system is in no way similar to the military retirement system...and is much much more complicated

    http://www.opm.gov/retirement-services/fers-inform...

  • 7 years ago

    Both Glen and DrZ above are right. Also wine wine below me makes me feel useless. All of these gentleman are correct.

  • Anonymous
    7 years ago

    no if you leave you are a deserter

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