Can I draw both Navy retired payment and FERS retirement?

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I still have 5 years before i retire and I have been drawing a Navy retirement check for 20 years, so when i retire from federal government under FERS, will I be able to draw both retirements?

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Asked on February 14, 2019 9:07 pm
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Yes. You earned your military retirement and that is yours. If you are vested in FERS and collect an annuity from OPM, that is earned and separate from your military retired pay. In addition, any Social Security entitlement you have earned throughout your life, will be an additional earned retirement check, separate from the retired military and FERS retirement checks.

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Answered on February 15, 2019 12:13 am
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You can continue to receive your military pension, but I recommend you do the math, brother. I retired as an E7 after 20 years in military and will retire Dec 31, 2019 after 20 years. I paid $16K to buy back my military time, getting $8k more per year.

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Answered on December 4, 2019 3:27 pm
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fedgunny, I have seen cases when it does pay to make the military service deposit to combine your retired military pay with your FERS and in your analysis, you state you paid $16,000 and it will increase your FERS benefit by $8,000 per year. So far so good. What you did not mention is that in order to combine the two retirements you also have to waive your E7 retirement. Again, it works for some but not all, so yes, do the math.

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Answered on December 6, 2019 9:11 pm