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Government retirement benefits?

Is there a website that says how much, or what percentage of your pay you will receive if you retire from the government?

I recently retired from the military, and I have heard that there is a program that I can relinquish my military retirement pay and that my years of service will count towards government retirement as well as get a step increase. Anyone know about this?

3 Answers

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  • Tom E
    Lv 5
    1 decade ago
    Favorite Answer

    Keep your military retirement pay. I work civil service and among the employees are some retired military. Entering the government service or civil service you will be categorized as a fers employee as opposed to the old csrs system epmlyee which they are phasing out.. Get into the thrift savings program (TSP) and put into it as much as you can afford. The government will match some of that money in the fers system they do not on the old csrs program. Depending on how old you are, by age 62 when you are eligible for social security you will be OK. You will have your military retirement, your TSP and some civil service retirement at hand. Dont pay that military time back you will never be able to recoup the money that you paid back. There are specialist in this area who you can contact to get further information. Check with your regional OPM department. Be careful and get more then one opinion.

  • andy
    Lv 7
    1 decade ago

    Actually, there is no difference that I know of between a military retirement and a Federal retirement. Now, if you get a job in the Federal government your military years will directly transfer to your government job and add to your time there for retirement.

  • Anonymous
    1 decade ago

    I don't think that is so. Check the OPM website.

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