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If you Received a Refund of Your Retirement Deductions

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RedepositĪ redeposit is the repayment of retirement deductions that were previously withheld and refunded to you, plus interest. With certain minor exceptions, a Federal Employees Retirement System (FERS) employee cannot make a deposit for non-contributory service performed after January 1, 1989. Deposit for Service Ending after Januand Covered by FERS

If you do not pay for a period of this type of service, you will not receive credit in determining your eligibility to retire or in computing your retirement benefit. Interest is applied at the rates described in the table.

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Interest is charged to the date the deposit is paid in full or annuity begins, whichever is earlier. Interest is charged from the midpoint of periods of service and is compounded annually. The deposit amount is, generally, 1.3% of salary plus interest. You can make a deposit for creditable Federal Employees Retirement System (FERS) service you performed before 1989 during which retirement deductions were not withheld from your pay. Deposit for Service Ending before Januand Covered by FERS

Generally, nondeduction service cannot be credited for title or computation unless it was performed before 1989 and a deposit is made. However, not making the payment will eliminate this service from being used for title or computation purposes. You are not required to make this type of payment. 107-107 that can be used for title to an annuity under the FERS, but not in the computationĭeposit: A deposit is the payment for a period of employment when retirement deductions were not withheld from your salary.

Non-appropriated fund instrumentality (NAF) service under P.L.

Service performed under a Federal Reserve Bank Plan.

Congressional Employees that do no elect program coverage and are subject to the Social Security Amendments of 1983.

Service before with the Library of Congress Child Development Center.

Service before with either the Democratic or Republican Senatorial Campaign or National Congressional Committees.

Service as a volunteer or volunteer leader in the Peace Corps.

Service as a Senate Employee Child Care Center worker.

Service performed under the Foreign Service Pension System.

Part-time, Intermittent, Temporary "PIT" service performed abroad after December 31, 1988, and before May 24, 1998, under a temporary part-time or intermittent appointment pursuant to sections 309 and 311 of the Foreign Service Act of 1980.

There are a few exceptions to the rule that the service must have been performed before 1989.

Federal service performed before 1989, where an employee's pay is not subject to retirement deductions, such as, service under a temporary appointment, as long as a deposit is paid.

Unused Sick Leave under FERS can be used to increase an individual’s total creditable service for annuity computation purposes only.

Federal covered service, that is, service in which the individual's pay is subject to FERS retirement deductions, such as service under a career or career conditional appointment,.

Benefits Officers Center Toggle submenuįERS Civilian Service Creditable service under FERS usually includes.

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