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Thread: Fed Tech/Military Dual Status Retirement Stories

  1. Default Fed Tech/Military Dual Status Retirement Stories

    Any fed tech/military dual status retirees out there willing to share their retirement story/plan?


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  3. #2

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    Sure, what do you want to know?
    Life isn't about waiting for the storm to pass,
    it's about learning to dance in the rain.



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  5. Default Re: Fed Tech/Military Dual Status Retirement Stories

    Thanks for replying. I have questions. Is your MRD and MRA close? How are you bridging the gap until you draw both pensions? Plans after you retire? Will you work after? When are you going to start social security? FEHB or Tricare for Life? Thanks.

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  7. #4

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    Quote Originally Posted by Blackhawk View Post
    Thanks for replying. I have questions. Is your MRD and MRA close? How are you bridging the gap until you draw both pensions? Plans after you retire? Will you work after? When are you going to start social security? FEHB or Tricare for Life? Thanks.
    I was under the CSRS retirement system, so instead of an MRA, I was eligible for retirement at age 55 with 30 years of service. Ended up falling victim to the Selective Retention Program and was effectively retired on my 55th birthday.

    That was 6 years ago. Under CSRS I ended up with 62% of my high 3 years of earning, 32 years of service and a year of sick leave that was converted into an additional year of service. Signed up for the Survivor Benefit Program, so my wife would be taken care of if she outlives me and that knocked about 4% off my 62% total.

    As for bridging the gap from my CSRS retirement until I was able to collect my military retirement at age 60, all I can say is thank goodness my wife worked as her pay helped immensely during this time. I am now collecting my military retirement and my wife was able to retire this past June.

    Regarding FEHB, I had to carry it into retirement until my military retirement kicked in. I then "suspended" it (don't cancel, suspend, If you cancel, you can't get it back) and enrolled in Tricare Prime. I can carry Tricare Prime until age 65 whereas I will have to convert to Tricare for Life. Tricare Prime runs me $47. per month as opposed to over $400. I was paying for BCBS. Actually it ended up being a nice little cost savings in my CSRS retirement.

    To answer your question about working after I retired, for the first 3 years I did not. But after awhile I was going stir crazy with my wife working and me sitting at home. With that said, I decided to get my CDL and got a job driving a school bus. I've been doing that now for the past 3 years and love every minute of it.

    As for social security, I plan on taking it at age 62. I'm hoping they do away with the WEP penalty but do not have much confidence in that happening. I will have a decision to make at that time regarding driving the school bus. My annual income from the school bus falls below what is allowed under social security, so I will still be able to work. The question is will I still want to work or will I decide to join my wife in retirement and live happily ever after? Still have a little over a year to decide...

    Hopefully I have answered your questions, but if not, fire away.

    V/r
    Ravensfan

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  9. Default Re: Fed Tech/Military Dual Status Retirement Stories

    Ravensfan,

    I'm under FERS. I'm 45, GS14/5 and O-5 over 27 (I have some enlisted years). I'll be 56 at my MRD and my MRA is 57. I've been through a few Select Retention Boards and will have several more to come. I plan to be GS14/10 and O-6 over 38 when I retire. I should have over 30 years of service when I finish buying back my military time and another year of sick time. And I should have 24 years towards calculating of the supplement. My wife is 44 and a pharmacist at the local hospital. My agency recently put out a policy that told us to plan on retirement at our MRD. I'll be able to draw my military pension at 59 due to my last deployment after 2008. I was thinking I would draw my social security at 62, despite my financial planner recommending 67, and my wife draw hers when she's 62. Good info on Tricare Prime. I have BCBS now and it's expensive! I have a few ideas for work after I'm retired to bridge the gap until I draw my military pension but I have 10 more years to prepare for that. Luckily, dear wife (DW) makes good money and will still be working. It is interesting how many retired officers I run into say they're bored. And my TSP is doing well but I just lowered my contributions down to 5% so we can pay off a rental property before we retire.

    Thank you for the info. I try to ask our retirees how they did it and if they would do anything differently. DW and I have a good vision and plan for retirement and are looking forward to that day when we can. Blackhawk.

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  11. #6

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    Blackhawk,

    It sounds like you have a good plan in place and that is the key. Just re-evaluate it periodically and make changes as necessary as things do change.

    I had to snicker a little when I read your comment about retired officers being bored. It's the same way with us enlisted folks as well. I think sometimes we get so wrapped up in our retirement/exit strategy that we forget to plan on what we will do once we are retired. My plan was to catch up with all those home improvement projects I kept putting off during my working career. Well that lasted about a year and a half and once completed the boredom set in. With that said, my advice is to include a plan for what you will do once retired. Whether that is to travel, play golf, learn to play a musical instrument or whatever, ensure you have something to retire to.

    And finally, two other things, when that great day comes and you hang up your uniform for the last time, make sure you join NARFE (National Association of Retired Federal Employees) and get involved with your local retiree's association.

    Good luck, and if I can be of further assistance, just let me know.
    Life isn't about waiting for the storm to pass,
    it's about learning to dance in the rain.



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  13. #7

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    I'm in the same boat and currently 37 with over 18 military and 11 civil service. Working on buying back my 7 years of active duty time at $5609.

    How do I calculate MRD and MRA?

    I'm not necessarily looking to retire on either side at the earliest age/time possible. I actually like the work I do on the civil service side since I left the DOD.
    Last edited by sillbeer; 12-30-2016 at 08:41 AM.

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  15. #8

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    Quote Originally Posted by sillbeer View Post
    How do I calculate MRD and MRA?
    Not sure what MRD is, but for MRA/years of service for FERS, see https://www.opm.gov/retirement-servi...n/eligibility/

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    Thanks for posting that link Evilanne. By the time I hit 57 I'll have over 30 years so no worries. I'll be happily retired at that point and hopefully have my first house paid in full and working on a second house. As long as that is the case, I'll bridge the 2 years between civil service and when my military retirement kick in and be in fine shape.


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  19. Default Re: Fed Tech/Military Dual Status Retirement Stories

    Sillbeer, I'll be 56 at my 30 year MRD and plan on requesting an MRD extension to at least get to my MRA and hopefully make it to 59 when I can draw my military pension. Officers typically have a 28 year MRD until you are selected for O-6 then your MRD is extended to 30 years commissioned service. We have a few O-6s that are on MRD extensions. Any active duty time or tours are great bonuses. The State National Guard USPFO, though may not be an appealing job, is usually a 3 year active duty O-6 tour that you stay home for, you are making O-6 wages, acruing points and you can buy the years back into your tech retirement.

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  21. #11

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    Default Re: Fed Tech/Military Dual Status Retirement Stories

    I couldn't find a reference to MRD and stumbled upon RMD which is Required Minimum Distribution fore IRAs. Is MRD Military Retirement Date? I'll be 49 years old if/when I hit 30 years in service. No matter what I do I'll have a gap between when I hang it up and when I start collecting.

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  23. Default Re: Fed Tech/Military Dual Status Retirement Stories

    MRD = Mandatory Removal Date. I'm an officer in the Army National Guard. Army officers have a maximum 28 year MRD until they are selected for O-6 then they are extended two more years for a max of 30 years of commissioned service. Enlisted have an enlistment contract but after they accrue 20 years of service they are subject to Quality Retention Boards where they can be separated. Warrant Officers are a different subject.

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