Marine Officer retirement into a state job.

[Riper Snifle]

Hello all,
I just wanted to know if you can count your time in the military as an officer towards a retirement plan if you transfer over to a state job. The way I understand it is that if you put 10 years into military service and then 20 years into a civilian job such as state trooper or teacher, then you could have a 30 year government retirement plan. Is this true, or are state and federal jobs seperate, and therefore do not transfer over? Thank you for any information you can shed on this subject.

 

[HH-60H]

Hello all,
I just wanted to know if you can count your time in the military as an officer towards a retirement plan if you transfer over to a state job. The way I understand it is that if you put 10 years into military service and then 20 years into a civilian job such as state trooper or teacher, then you could have a 30 year government retirement plan. Is this true, or are state and federal jobs seperate, and therefore do not transfer over? Thank you for any information you can shed on this subject.

What you said is 100% true for federal civil service (competitive and excepted) jobs.

As for the 50 states, it will depend on the state. I would guess that most states have a similar system.

 

[phrogdriver]

I would think that the states would be on greatly different plans, given that the military is part of the federal system. When you take a federal civilian job after being in the military, you pay in a pro-rated amount based on years of service in order to make the military years count toward retirement. The states are all 50 different pools of money. Your previous service didn't pay anything toward their pension funds, which are usually run by private pension investment companies, like TIAA-CREF.

 

[feddoc]

What you said is 100% true for federal civil service (competitive and excepted) jobs.

As for the 50 states, it will depend on the state. I would guess that most states have a similar system.

Yup, what phrogdriver spoke of can be a costly way to retire from GS work. I plan on staying about 12 years, then go home.

 

[Riper Snifle]

Hmm.... thank you gentlemen for the responses. I will definately have to look into this more in depth. It certainly changes some assumptions I have made, and will probably change some of my plans. Thank you very much.

 

[Flash]

Yup, what phrogdriver spoke of can be a costly way to retire from GS work. I plan on staying about 12 years, then go home.

It's still a pension system though, and not too bad of one either......though the military's is still by far the best.

 

[Stearmann4]

So then if you retire at 20 and take on a federal or similiarly funded state position, are you then allowed to receive your military pension while simultaneously getting paid for your current job?

If you then retire from your second occupation, can you receive both retirements?

 

[Flash]

So then if you retire at 20 and take on a federal or similiarly funded state position, are you then allowed to receive your military pension while simultaneously getting paid for your current job?

If you then retire from your second occupation, can you receive both retirements?

Not sure about state pensions, though I don't see why the same would not apply, but you can 'double dip' if you retire from the military and then federal civil service.

If you seperate from the military and then go into the federal civil service you can buy into the federal pension system. It is worth it in the end, though it is not as good as the military pension. If you stay in the reserves you can still buy into the civil service system and get the reserve retirement too. If you retire from the military and then enter the federal civil service you cannot buy into the retirement system, but if you put in enough time you can get a federal pension too. There are plenty in the DC area that do that.

If you have any more specific questions please PM me, about the federal civil service and not state, and I will try and answer. I just entered the civil service and I have recently dealt with some of these issues.

 

[feddoc]

So then if you retire at 20 and take on a federal or similiarly funded state position, are you then allowed to receive your military pension while simultaneously getting paid for your current job?

If you then retire from your second occupation, can you receive both retirements?

Yes and yes. I am doing that....although my second retirement cannot begin until the first day of my 10th year.