I recently received my final Civilian LES (Leave and Earnings Statement).
Since I had already received my final Pay Check/LES from Uncle Sugar, this LES contained zero pay, but it did have information vital to applying for my FERS Deferred Annuity. I’ve already covered the details of what is and is not included in a FERS Deferred Annuity here, so be sure to review your potential benefits before making the final decision to pull the ripcord. The final LES contained: Continue reading
I developed the eBook based on personal experience, research, and input from readers here at GubMints.com.
Some 30 percent of Federal Employees are Veterans, and Veterans receive additional Federal Service Credit depending on their military retired status and time in military service. This enhances your federal ‘seniority’- what Uncle Sam refers to as your Service Computation Date. Maximizing your federal Service Computation Date is critical, as mistakes can cost you thousands of dollars in:
This GubMints Gouge Book will give you the tools you need to maximize your Service Computation Date, including sample forms, actual correspondence to and from Defense Finance Accounting Service (DFAS), plus a FREE calculation spreadsheet to help you determine the potential value of your Military Service Credit Deposit.
Grab a copy for your Kindle today!
Don’t have a Kindle? That’s ok, there are free Kindle Reader apps that make your Tablet, Computer, or SmartPhone work as a Kindle eBook reader .
Are you Retired from Active Duty (drawing a pension) and have one of these? Then it’s time to earn your Military Service Credit Deposit PhD!
Are you a Federal Employee drawing retired pay from Active Duty Military service? Think there is no way to to receive additional FERS retirement credit for your Active Duty Military service (Military Service Credit), since you are already drawing Active Duty retired pay? Think again- there is a path to have your cake and eat it, too.
Why should you do this?
First, you can obtain additional Fed ‘seniority’ credit for accruing Annual Leave. Annual Leave is valuable because:
(a) It’s paid vacation time and
(b) Upon retiring or resigning from federal service you can sell Annual Leave back “one for one” and get paid for each unused Annual Leave hour at your hourly rate. Continue reading
(Post updated 3/29/2013 based on comments from GubMints reader Brad- see Comments)
I’ve received many direct and search inquiries regarding how to perform a Military Service Credit Deposit- So with much fanfare, here is the
Note: This entire guide assumes:
1) You are covered under FERS, not CSRS’ and
2) All of your Military Service took place after 1956.
(both reasonable assumptions).
If you go to the OPM website, here’s the terse guidance they provide on how to perform a Military Service Credit Deposit:
FERS Military Service Credit Deposit Military Service Credit for Military Service performed after 1956- To receive FERS credit for military service performed after 1956, you must pay a deposit. The amount of the deposit is: Dates of Service Amount of Deposit DueSounds pretty simple, doesn’t it?