I'm exploring career options post-military service and considering federal jobs. Can time served in the military be transferred or credited towards federal employment benefits like pensions or vacation days?
Yes, military service can indeed be credited toward federal employment benefits. However, the specifics vary depending on several factors, including your type of service and the federal retirement system you fall under: Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS).
For example, under both FERS and CSRS, you can generally buy back your military service time and have it count towards your federal pension. This process, known as "military buy back", involves paying a deposit to the retirement system equivalent to a small percentage of the military base pay you earned during that time.
Upon doing that, the years you spent in the military will be added to your total years of service for the purpose of calculating your federal retirement annuity. This could significantly increase your monthly pension payments, particularly if you served in the military for a number of years.
In terms of annual leave accrual (vacation time), veterans who are preference-eligible or who have served on active duty for more than three years can generally have their military service time counted for leave accrual purposes in a federal civilian position.
One key point to keep in mind is to thoroughly review your options before making a decision, as the buyback process can potentially affect any military retirement benefits you might receive.
Lastly, always consult with a human resources professional or other expert in federal employment benefits to make sure you're making the most out of your military service time.
CollegeVine’s Q&A seeks to offer informed perspectives on commonly asked admissions questions. Every answer is refined and validated by our team of admissions experts to ensure it resonates with trusted knowledge in the field.