Buying time back
- Thread starter Ms394
- Start date
2006
Itstillfun
Well-known member
I think the Congress is still looking at it maybe. I hope anyway. Still holding out hope.
callofthewild
Well-known member
Wouldn't it be wonderful to be able to buy back your RCA time. One can dream.
Skierstmoritz
Well-known member
Will never happen! Too many regulars would buy back that time and out the door they would go! Me included!
Voglio-il mio
Well-known member
You can sign me up for that also, I'd be gone so fast!
pot hole dodger
Member
Keep in touch with you Congressmen and Senators. The squeaky wheel gets the grease.
I believe RCA buyback was included in both original House bills before reconciliation by the Senate and it went away, just like the massive funding bailout. From what I've learned, the cost would be huge since so many have been RCA's for so many years and are still working either as such or as regulars.
Skierstmoritz
Well-known member
I'm curious. What is the dollar cost of the buy back based on? Just found out that I may be able to buy back some pre 1989 federal time and add it to my time in service. Is it based on today's dollars or what you were paid "back in the day"? Anyone?
Voglio-il mio
Well-known member
If it's like the military buy back it was based on income dollars at that time, but there is a interest penalty per year past the grace period. I have a feeling that after 31 years of interest unless you are retiring young it would be difficult to recoup to make the expense worth the rewards.
Best bet is to call Shared Services and ask!
Skierstmoritz
Well-known member
I did, they couldn't answer the question . They are sending me a packet. Maybe it's in there? I hope. We are talking $4/hr back in the day
Voglio-il mio
Well-known member
My buy back for my military time, which is basically pension contribution for that time period, was about $900 per year. I bought mine back before the grace period had ended so I had no interest added. I seem to remember the interest percent to be 3% per year, compounded.
Next option for a phone call would be NRLCA!
Same here, I would leave yesterday.
Voglio-il mio
Well-known member
I say I would be gone so fast, but I would give them at least two weeks notice and then call in sick for those two weeks!
Voglio-il mio -- " I say I would be gone so fast, but I would give them at least two weeks notice and then call in sick for those two weeks!"
-- If you have the opportunity to call in, be sure to say that because of possible recent contacts outside of the office, you will be "self-quarantining" for 2 weeks.
-- If you have the opportunity to call in, be sure to say that because of possible recent contacts outside of the office, you will be "self-quarantining" for 2 weeks.
too many yrs left
Well-known member
The interest rate varies depending on what interest rates were at the time. If I'm remembering correctly some years it is around 11% or so.
Voglio-il mio
Well-known member
That's cool but the interest rate wasn't based on bank financial rates. It was a fixed rate that OPM had set up in the wording of the procedures instructions..
realroutecarrier
Well-known member
I’ll give them a notice, no-dis I ain’t coming back!! lol ?
