Micah Shilanski: What's the exception to buying back your military time and still getting a military pension?

If you've ever wanted to answer that question, then stay tuned for this FERS federal fact check.

Hi, I'm Micah Shilanski, and welcome to plan your federal retirement in this special episode of the FERS Federal Fact Check.

We have a great question from Walt.

Let's listen to what Walt has to say.

Unknown: Hey, this is Walt.

I'm retired Air Force, 22 years combat injury related, 100% disabled Veteran.

I'm working civil service now.

I'm going to retire after 15 years of civil service just found out about the military buyback, but I understand about by my military time back to get the years I lose my already Air Force retirement pay that I'm getting now.

But I did see unless you are a combat injured veteran, at which I am so does that mean I can buy back my military time and also keep my Air Force retirement pay?

Thanks a lot.

Bye, bye.

Micah Shilanski: Well, that's a great question, and kudos to you for doing your research.

Right?

There's exceptions to almost every rule that's out there, right?

Even though the rules kind of apply to the majority of us.

You are correct.

There is an exception out there for your 22 years of active duty service in the Air Force.

And what this is talking about is, if you have a disability that is directly related to a combat and that is called a combat related special compensation, if you get that, there might be an exception for you, and for a lot of contingencies in here, the documentation has to line up and say all this.

But if that's the case, if you got retired from the military due to a combat related special compensation package, then more than likely, you can buy back that military time and continue to get as a full military retirement and all of your other benefits.

So it really is a great way to double dip in the benefits, because you served our country and you were injured in combat.

That's why the military and the government has these options for you.

So documentation on this one rule is going to be absolutely key.

Make sure you verify your pay, your retirement pay Classification.

Make sure that's correct, get the cost of the buying that back, and then complete, of course, all of the forms in order to do that.

And doing it before you retire is always that better option for you.

If you have questions like Walt, then jump on our website Plan-your-federal-retirement.com and you could be featured the next FERS Federal Fact Check.

Till then, Happy planning.