We understand the importance of maximizing your federal retirement benefits. If you have military or part-time service that can be credited towards your federal service, our experienced team is here to guide you through that process with confidence.
We provide you with the knowledge and support you need to make informed decisions. We start by helping you understand the buyback process, including eligibility requirements and potential benefits.
Our expert advisors will evaluate your specific situation, considering factors such as cost, impact on your retirement benefits, and return on investment. We can also assist you with all the necessary paperwork, ensuring accuracy and compliance; saving you time and minimizing stress.
Don't leave your potential retirement benefits on the table. Let us help you claim what's rightfully yours. With our guidance, you can navigate the buyback process confidently, knowing that you are making informed choices for your future.
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Here are a few important things to know when it comes to military and part time buyback time as you near retirement and beyond. For further information and to see how this applies to your specific retirement, contact us!
- Basics
- Considerations
- How Can FERA Help
Behold: Bullets of Buy Back Basics (say that 10 times fast!)
- As a federal employee you have the opportunity to credit certain previous military or part-time service towards your federal service for retirement purposes. By making a payment to "buy back" this time, you can potentially increase your years of service, which can impact your retirement benefits and eligibility.
- Most times there will be interest due on your buyback amount, so it’s important to make the buyback as soon as possible.
- The process for buyback involves completing the necessary paperwork, including the Application to Make a Service Credit Payment (SF-3108), and submitting supporting documentation such as DD-214 forms.
Buying back time can be a pretty straight forward process, but not always!
- You’ll first need to determine if you have eligible military or part-time service that can be credited towards your federal service.
- Then, calculate how the buy back will affect your pension and evaluate how long it will take to get a return on your investment to see if it’s worth the upfront expense for you in your specific financial situation.
- Lastly, you’ll need to consider the timeline for making the buyback payment and any applicable deadlines; Along with deciding if the payment will be made as a lump sum or through installment plans, depending on your time horizon.
Take Control of Your Future: Make the Most of Your Buyback Opportunity
FERA is your trusted partner when it comes to military and federal buyback time. Our dedicated team comprehends the nuances of the buyback process and can assess your eligibility, calculate costs, and evaluate the impact on your retirement benefits. We stress the importance of seeking guidance from an experienced professional to avoid potential pitfalls and ensure a seamless buyback experience. Let FERA help you make informed decisions and secure the benefits you deserve from your military and federal service. Contact FERA today to get started on maximizing your federal retirement benefits through military and part-time service buyback.
