Looks like 60 for me then. My last year or two would probably be about full time, so it's a wash. I do know other people that would benefit from it though.
sorry... 20 years at age 60,,, or.. 30 years before age 60
20 at 62 for 1.1%...
It's gonna be a struggle just to get to 60 lol.
I feel you buddy. 5 yrs regular / 15 rca. Will never give the union a dime until I can buy my time back. I think our only real hope is that they will find the motivation to move us table 1 folks off the board....
You didn't pay into the retirement system for those years. Buying back means paying what you would have had deducted from your pay if you were paying into the retirement system (FERS)....... What is sad about the situation is the abuse from CSRS and CSOffset. Before 1989, if you worked 1 day a year for 29 years (29 days total), and then became a full time employee in the retirement system (FERS, CSRS, or CS Offset) you could work 3 years and retire with 32!!!!! years of credit. That is what Congress "fixed" with FERS starting 1/1/89. Many of us have time worked before 1/1/89 as a part time employee and we can pay in and get credit for the time worked. If you worked 1 day before 1/1/89, you can pay the 1.2% of the pay you earned on that 1 day and get that 1 day added to your annuity. I worked about 30 hours a week from July 88 to December 88 and paid in $250ish for an additional 5 months. So I ended up with 30 years and 5 months. My annuity is 1% times 30.417 after buying it back versus 30.000 without it. It added about $250 a year to my annuity for the rest of my life.
it's in the forms you get when applying for retirement. I didn't think it was going to add much and was going to cost due to compound interest for 37 years LOL But OPM email said it was going to cost a little less than $300 and would add $25 per month to annuity. I wish we could buy back ALL time, I had 3 years on an aux route and worked about 3 days a week for the other 3 years I was an RCA. That would have added about $4000 a year to the annuity.
I started in 94, I worked 2 and a half years full time as an rca , the regular was out with health issues. I also worked at another PO full time to help out ,that was another 4 or 5 months . I went full time on 06 . So I would have less than 10 years to buy back my time . I'm leaving/ retiring dec 26 . I've started my paperwork to do this . I've had enough . It doesn't look very promising for the Post Offices future. Sad
Get all the postal workers in your area to write letters & make phone calls. The only way this will ever make it to the vote is if more people make noise.
Don't stop at postal workers, gather everyone you know, family, customers, facebooks, everyone on your route, your zip, your state, anyone who will listen to you across the country.
This is the domain if congress and OPM. Usps has nothing except being a fed-aligned agency under OPM.
