By Reg Jones
June 24th, 2011 | RETIREMENT
Q: Am I right that my two, four-year term positions will count for retirement and after five years of continued employment I can keep my insurance? I am asking if my understanding is correct.
A: If you were later appointed to a CSRS-covered position, those term positions will count toward an annuity if you make a deposit for that time to the retirement fund. If you were later appointed to a FERS-covered position, only term service performed before Jan. 1, 1989, would be creditable with a deposit. Term positions entered into on or after Jan. 1, 1989, aren’t creditable for any retirement purpose nor can you make a deposit to get such credit.
June 28th, 2011 at 12:31 pm
Not sure this is accurate; believe term appointees were given the option of participating in FERS post-1989. But they can’t buy back the time if they elect to do social security only.