By Reg Jones
March 7th, 2013 | Uncategorized
Q. You answered a question March 1 about military buyback from a person who had 21 years of active-duty retirement. You said, “If you make a deposit for your active-duty service, you’ll have to waive your military retired pay when you retire from your civilian job.” Does that apply to reservists?
I am a retired reservist who had planned to buy back 10 years of active duty in 2013-14. I began drawing retired pay last year when I turned 60. As a reservist drawing retirement, will I also have to waive my retired pay when I retire from civilian service if I buy back my active duty time?
A. Because you’ll be receiving reserve retired pay, if you make a deposit to get credit for your active-duty service, you won’t have to waive that pay when you retire. Only employees entitled to or receiving military retired pay based on their active-duty service are required to do that.