Prior Military Service?
by Mark MillerIt’s never too early to start thinking about retirement planning. If you have prior military service you can apply those years to your federal retirement. FERS employees must make a deposit to receive retirement credit for military service. The deposit is normally 3% of the military basic pay. If the full payment is made within 3 years of the date first covered by FERS, no interest is charged to you. You will need to obtain a statement of earnings from the appropriate military branch. Complete and submit OPM Form RI20-97, Request for Estimated Military Earnings and a copy of your DD 214 to your military branch. After you receive a certified copy of the RI 20-97 showing your military earnings, HR can estimate the military deposit you owe. Your deposit can be paid by installments each pay period if you like. If you had 4 years of military service it will add 4% to your retirement annuity. Use the links below to get the process started. DO IT NOW, you won’t regret it.

09/11/09 09:30:32 am, 