Buy Back RCA time!!!

[RammerJammer]

It couldn't be much, I bought back 6 months from 88 and it only cost $250ish. Increased my annuity by $25 a month so I've almost got my $250 payment back.

But when did buy back. If you had to it now, there’d be 38 yrs of interest tacked on. I think stillfirstclass bought his time back before 1989 and seems like IIRC was like $6000.

 

[psd181]

But when did buy back. If you had to it now, there’d be 38 yrs of interest tacked on. I think stillfirstclass bought his time back before 1989 and seems like IIRC was like $6000.

I bought it back in May. I only had 6 months of work in 88.

 

[stillfirstclass]

It couldn't be much, I bought back 6 months from 88 and it only cost $250ish. Increased my annuity by $25 a month so I've almost got my $250 payment back.

i bought 2 years worth... when you retire, they don't want to give you 100% of your annuity until everything is finialized, a few months later.... when they went back to retroactive and square me up, it was a wash. i owed them nothing and the money they reserved covered my buyback... so very much worth buying...

 

[stillfirstclass]

But when did buy back. If you had to it now, there’d be 38 yrs of interest tacked on. I think stillfirstclass bought his time back before 1989 and seems like IIRC was like $6000.

when i first did the math before i retired, i had the decimal point in the wrong spot oops.. it was closer to a $1,000 not $10,000.. i even told the retirement counselor i didn't want to apply... when opm got my paperwork, the lady there applied for me, sent me an email and asked how i wanted to pay for it

 

[Beanut]

Thanks for info. I will follow. 6 years as RCA on 33 AUX with 5/1 option. Covered for Union REP REG 2 days a week on average with vaycay and sick time factored in, on 44 K/L

The big question would be at what price for those of us with 10+ in now as REG looking and nearing retirement. 8 more years have my 20, with little desire to serve more.

it’s “not as much as you’d think” from what I was told by a DR

It would be a good incentive for the table one to retire (JUST THINK OF ALL THE MONEY THE P.O. WOULD SAVE)

I’m table1 with 21 years as an rca. It would absolutely make my day to buy back my time and retire asap

 

[RammerJammer]

when i first did the math before i retired, i had the decimal point in the wrong spot oops.. it was closer to a $1,000 not $10,000.. i even told the retirement counselor i didn't want to apply... when opm got my paperwork, the lady there applied for me, sent me an email and asked how i wanted to pay for it

So I guess all that talk about the compounding interest is hogwash because I pay around $700 a year now.

 

[stillfirstclass]

So I guess all that talk about the compounding interest is hogwash because I pay around $700 a year now.

i was only making $9.36 an hour, so 1 % of that....

 

[psd181]

yes, that's what I did also, paid out of the money they owed me.

i bought 2 years worth... when you retire, they don't want to give you 100% of your annuity until everything is finialized, a few months later.... when they went back to retroactive and square me up, it was a wash. i owed them nothing and the money they reserved covered my buyback... so very much worth buying...

 

[RammerJammer]

i was only making $9.36 an hour, so 1 % of that....

I’d estimate my base pay around $30,000 in 1994 so the .8% deposit would have been $240. The treasury rate for 2025 was set at 4.375%. It was 1.375% in 2021. It is a variable rate through the years and is compounded annually. So just as an example if they ever did pass the legislation I figured that $240 plus my other RCA time would now cost me several thousand.

 

[Offspeed]

Didn’t pass with the Democrats in charge, therefore nothing like this will pass with the GOP in charge. Maybe emphasize Rural. BUT I Do KNOW SOMEONE who did buy his 10 years as a RCA back. It cost him over $90,000. I didn’t poke around to hard on it because I didn’t want to rain on his parade/retirement. Ask me how! And it doesn’t make sense. How much are we all willing to pay?

 

[stillfirstclass]

I’d estimate my base pay around $30,000 in 1994 so the .8% deposit would have been $240. The treasury rate for 2025 was set at 4.375%. It was 1.375% in 2021. It is a variable rate through the years and is compounded annually. So just as an example if they ever did pass the legislation I figured that $240 plus my other RCA time would now cost me several thousand.

if i would have bought the whole time i was a sub,, instead of only the first 2 years, those extra 14 years would have been in the thousands with interest

 

[Tired carrier]

I was hired in 1984 and bought my time back. About 4 of those years I ran an auxiliary route and covered a couple of other routes. It helped me a lot, I can’t remember the exact buy back but it took me 18 months to recoup my money but it was worth it.

 

[kizhawk721]

So just about everyone here has lamented the fact that we get no retirement time for working (sometime many years) as an RCA. I think everyone knows by now that this isn't something that can be negotiated at contract time. This was phased out in 1988 for pretty much all federal temporary or non career workers and need congressional approval to change this.

Well, here it is! Google, HR5389 this house bill would allow temporary and non career federal employees after 1989 the option to buy back their creditable service time.

It sounds to me like everybody should check this out and then call their congressman!

I've got 12 years as an RCA , 2 and a half I worked full time for the regular, he was out with health issues

 

[kizhawk721]

Didn’t pass with the Democrats in charge, therefore nothing like this will pass with the GOP in charge. Maybe emphasize Rural. BUT I Do KNOW SOMEONE who did buy his 10 years as a RCA back. It cost him over $90,000. I didn’t poke around to hard on it because I didn’t want to rain on his parade/retirement. Ask me how! And it doesn’t make sense. How much are we all willing to pay?

We shouldn't have to buy it back , we worked !!

 

[Beanut]

We shouldn't have to buy it back , we worked !!

yes, you worked but didn’t contribute to the retirement. You would be paying for the contribution you didn’t have deducted from your pay.

 

[Beanut]

So just about everyone here has lamented the fact that we get no retirement time for working (sometime many years) as an RCA. I think everyone knows by now that this isn't something that can be negotiated at contract time. This was phased out in 1988 for pretty much all federal temporary or non career workers and need congressional approval to change this.

Well, here it is! Google, HR5389 this house bill would allow temporary and non career federal employees after 1989 the option to buy back their creditable service time.

It sounds to me like everybody should check this out and then call their congressman!

Unfortunately many lament but don’t bother with the footwork. Calling, writing and being vocal to our representatives. If everyone who wants this to happen called and wrote as many letters I have written. This would have passed by now.

I write every rep in my State not just my district. I continue to send letters monthly to those who have not yet signed on. You have to be annoying and persistent.

Write letters, emails, and leave messages.

 

[UnknownUser]

I was 27 when I started and worked as an rca for almost 4 years. I would definitely buy back my time if it would allow me to retire at 57 with 30 years. Question for you guys. If I don't ever get the opportunity to buy it back, can I still retire at 57 with 26 years of career service?

 

[FrozenToes]

I was 27 when I started and worked as an rca for almost 4 years. I would definitely buy back my time if it would allow me to retire at 57 with 30 years. Question for you guys. If I don't ever get the opportunity to buy it back, can I still retire at 57 with 26 years of career service?

OPM

 

[UnknownUser]

OPM

Looks to me that it would be 80% at 57 or 100% at 60 years old in my situation. It would be a good decision to buy back my time if I'm able to.

 

[Beanut]

@UnknownUser it’s daunting for me to think about it. But….

If I could buy back my time I could retire at 57 with 34yrs
Right now, I’ll retire at 62 with 17yrs
So I’ll have to work 5 extra yrs to receive the same compensation.

21yrs non-career