Federal Retirement Fairness Act

[Bigpretty]

If this Federal Retirement Fairness Act is passed, what is the cost of buying back my time as a RCA? Also, how will that be calculated towards my retirement?

I had 10 years as a RCA.

 

[RammerJammer]

If this Federal Retirement Fairness Act is passed, what is the cost of buying back my time as a RCA? Also, how will that be calculated towards my retirement?

I had 10 years as a RCA.

If ifs and buts were candy & nuts…

Maybe somebody that bought back RCA time prior to 1989 could tell how their’s was done but here’s my best guess. OPM would probably compute your total RCA time worked excluding OT and divide by 2080 to get your extra years of service to be added. So you wouldn’t get 10 years because most RCAs don’t start out working full time normally for awhile. Then you would make a deposit or buy back your FERS contribution rate plus interest for that uncredited time. After your check cleared that time would get added to your regular service time and used in your retirement calculation.

 

[RammerJammer]

Like I said if it were to ever pass…

 

[Bigpretty]

Thanks. I’m trying to calculate what I might receive once I’m eligible to retire. My body is telling me that it’s time, but I’m not old enough to go yet.