By Reg Jones
Q. I will be eligible to retire in September. My agency is also offering a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay to qualified employees. In September 1995, I was part of a reduction in force. As a result, I eventually requested a refund of my retirement contributions. I was re-employed with the federal government in May 2001 under CSRS Offset and did not redeposit the refund. Will this affect the amount of my retirement annuity?
A. You will receive full credit for that period of refunded service in determining your total years of service. However, it won’t be included in the computation of your annuity. So, for example, if you got credit for 30 years of service but received a refund for 10 of them, only 20 years would be used in the computation of your annuity.
Pat M Says:
August 15th, 2013 at 10:11 am
To find out how much you owe (you have to pay accumulated interest on what you were refunded), go to http://www.opm.gov/forms/standard-forms/ and download SF-2803. Fill it out, then send to your Agency’s HR. They complete their part, and forward it to OPM. It will take several months, but you’ll get a statement telling you how much you need to Redeposit. You have to have this completed before your Retirement annuity reaches final adjudication.