I've heard that military service might count towards retirement in some government positions. Can anyone explain how this works and which jobs offer this benefit? It could be a great way to use my military experience after high school.
Sure, your military service can, indeed, move you closer to retirement when you work for the federal government. Specifically, years served in the military can be added to your total number of years in civil service to calculate your Federal Employees Retirement System (FERS) benefits.
Under FERS, you need to have at least 5 years of civilian service to be eligible for retirement benefits, but once you meet that requirement, the length of your military service can be added to this time. For instance, if you've served 5 years in a civilian federal job and 10 years in the military, you'll be credited with 15 years of federal service for retirement purposes.
Now, keep in mind that you will have to pay a deposit to the federal retirement fund to "buy back" your military time. This deposit typically amounts to 3% of your military basic pay. Once the deposit is made, this military service time will be calculated at the same rate as your civilian service.
This opportunity applies across a broad range of federal jobs, including but not limited to positions with the Department of Defense, Department of Veterans Affairs, Federal Bureau of Investigation, and United States Postal Service. The good news is that even if you're starting with a job that doesn't require your specific military skill set, the years of military service still count towards your retirement under FERS.
Also, remember that the VA and DoD offer hiring preferences for veterans which could help you land a federal job, making it easier to benefit from the retirement credit.
This is a high-level summary. For specific details, you should check out the resources provided by the Office Personnel Management (OPM) or consult with an HR representative in your federal agency.
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