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Home»Personal Finance»The Rules for Getting Both Military Retired Pay and a Federal Annuity
Personal Finance

The Rules for Getting Both Military Retired Pay and a Federal Annuity

finvestadminBy finvestadminAugust 23, 2023No Comments3 Mins Read
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Most federal military personnel who receive a veteran’s salary must decide when they retire to keep or waive that salary and count their years of service in the calculation of their private pension.

However, there are two groups of employees who are still eligible to receive Military Retirement Benefits and whose periods are counted in private pensions.

* If you are a former military member who has retired from military reserve service.or

* If retirement benefits were provided due to service-related disability incurred while on duty during wartime, caused by combat with enemies of the United States or caused by means of warfare.

When you complete your retirement application, you will see a section on the form that deals with military retirement: Schedule B – Military Retirement. There, you must check the appropriate boxes next to a series of questions about receiving (or applying for) a veteran’s or vassal’s salary. If you fall under any of the double credit provisions, you must check the correct “yes” box. You will then need to confirm your claim with a copy of the adjudication notice.

If you do not attach evidence, the Office of Personnel Management (OPM) will not be able to process your resignation application until confirmation is obtained from the military branch where you served. This will delay receiving your retirement pension until the issue is resolved.

To avoid such delays, you should clean up your service history now. If you already have a notice of eligibility for retirement benefits as a reserve officer, make a copy and remember to attach it to your civilian retirement application when you are ready to leave. Similarly, if your severance pay is based on combat disability, be sure to attach copies of the appropriate documentation. If you can’t find the documents you need, your agency’s human resources office will help you find the right place to get that information.

Typically, your government agency will quote your civil service retirement pension and may even process your retirement application without proof of eligibility to receive dual credit for military service, but OPM does not. So it’s up to you to submit that evidence.

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