Authority to Redeposit Refunds under the Federal Employees Retirement System (FERS)

Article Title: Authority to Redeposit Refunds under the Federal Employees Retirement System (FERS)

Snippet of Article: "...Section 1904 of the NDAA now provides the authority for FERS employees who took a refund of their FERS deductions to make a redeposit of the amount refunded, plus interest. FERS employees who took a re fund of CSRS deductions covering CSRS service that is credited under FERS rules may also make a redeposit fo r that service to re - establish full retirement credit for that service. The FERS redeposit for refunded CSRS service will be based on the a ppropriate percentage of the employee’s basic pay that is required for credit under FERS as noted in the table below, plus interest. Interest for a FERS redeposit begins to accrue from the date the employee received the refund of the retirement deductions. ..."

Source: www.opm.gov

FERS Redeposit Act

Article Title: Ex-Workers Could Retain Credit for Federal Service
Snippet from Article: "..."This legislation is about enticing experienced federal employees to return to government service at a time when our nation needs its best and brightest the most," said Rep. James P. Moran Jr. (D-Va.), who introduced the bill on Tuesday. ..."
Source: www.washingtonpost.com
FERS Redeposit Act

[tag]Federal,Government,Military,Retiree, [/tag]