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He can retire (if it's actually "retiring" that the Army captain is doing) and the DoD will schedule repayment of the debt out of his retirement pay. It's likely to be a substantial portion of his montly retirement pay.
There are a number of us "double dippers". I am one. For someone wondering if she would have trouble if she were CSRS, have no fear. She can only be FERS. Go for it but be aware you will have to buy your time back. By that I mean. You will need to pay "X" dollars for all of your military years. It will be a pretty penny so be prepared. You can make payments so that isn't as bad but you will pay interest on it as if it were a loan. But each year you buy back is one year off your FERS time towards retirement.
The retirement rules are like this for an immediate retirement.
MRA (minimum retirement age) and 30 years
Age 60 and 25 years
Age 62 and 5 years minimum
There is another called MRA plus 10 but that is very costly and should only consider it under very dire circumstances.
Here is the link to retirement info. You can also use that site to find any answers you might not have got yet.
There are triple dipper. Military, government, and SS. Also Military, private company, and SS. I do not know the particulars, but it can be done.
Power to them if they earned it.
Military members pay into social security through their working lives like everyone else. That's not "double dipping" any more than it is for a civilian who has both a company pension and social security.
It used to be that O4 and above could not draw a pension. The Clinton administration changed it and now anyone can come back to the FERS system.
I personally wish they would go back to the old rule barring O4 and above. I see too much fraudulent hires and revolving door Captains taking GS15 positions they're in no way qualified for.
Most retirees don't opt to buy back their military time unless they're in a very strange situation. I knew one who retired as an e7 and made GS15 step 10 at 61. He's considering buying his mil time back.
"revolving door Captains?" Captains are O-3s, not O-4 or above. Unless you're referring to Navy captains...
If you earn two pensions, you deserve two pensions. Why on earth would you have to forfeit one if you want to retire from a different job later down the road?
From people I know the reasons they don't like it are not that they are getting 2 pensions but the fact that they give military retirees GS positions over a veteran that was out in 4 or a civilian. From what I have heard some agencies will make ready made jobs for these high ranking retired folks even though they may not be best qualified but they use their rank and position to feather their new nest before the jump.
Its not like these guys are on USAjobs groveling for positions. I think we will see ALOT of changes in the near future as civilian under employment and job insecurity proliferates.
There are triple dipper. Military, government, and SS. Also Military, private company, and SS. I do not know the particulars, but it can be done.
Power to them if they earned it.
The issue is often times they don't earn their initial position in civilian govt, they use their influence from their military rank and position to gain their fed GS seat. THAT is where people take issue.
if some retired lt col or E8 just went on to USAjobs got their 5 points and applied like everyone else I don't think there would be any issues, but that's not what actually happens.
The issue is often times they don't earn their initial position in civilian govt, they use their influence from their military rank and position to gain their fed GS seat. THAT is where people take issue.
if some retired lt col or E8 just went on to USAjobs got their 5 points and applied like everyone else I don't think there would be any issues, but that's not what actually happens.
I had to wait the lawfully required six months after retirement before I could take a government job, and I was, indeed, absolutely qualified for the one I was offered.
(I didn't wind up taking it--within six months I was already hired elsewhere).
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