VRA - retirement/buyback

DASAUTO Banned

I can't find the answer im looking for in other posts, so here's my question.

I will have 10 years, 11 months military time when I separate from the AF. I understand I will have to buy back that time towards retirement. Further, I believe I will still have to do 25 years "good time" for retirement. All-in-all, that leaves me with 35(ish) years towards retirement. My question is, what is the retirement percentage per year worked? I thought I read somewhere it's around 1.7%/year to 25 years, and 1%/year for any amount of time counted past 25 years. Is that correct?

Thanks in advance for any clarification on this.

atcguruaf Rico Suave AZ

Barney13 Senior Member where u all wanna be...

1.7 % for the first 20 years then 1% every year there after.
You pay back your military time and thats added onto your FAA time @ 1%
per year.
You can retire @ 50 with 20 years "Good Time" or any age with 25 years "Good Time".
So let's say 35 total years, 20 years @ 1.7%= 34%
plus 15 years @ 1% for a total of 49% of your high 3 average
plus your FERS supplement and your TSP.. U should be sitting pretty

Radium Epic Member SoCal Tracon

jesus thats quality $

DASAUTO Banned

thanks all for the useful website and information!

MikeATC Retired FAA, NATCA Member Nashville TN

It is a very good idea to buy back your military time, as mentioned in another post if you buy back your time it adds to your retirement. The FAA gives you the ability to pay back your military time in equal payment amounts over whatever time you need too. After you finish paying back your military time they will issue you a letter stating that you paid back your military time, DO NOT LOOSE THAT LETTER.

Cirrus12 Epic Member So. NH

Then you add in social security once you hit 67

Barney13 Senior Member where u all wanna be...

Actually, @ age 62, your FERS supplement stops and u start drawing Social
Security.
My FERS Supplement is 951$ a month, tax free, when I turn 62 that goes away and I will get about 1300 a month from SS..


CB

Cirrus12 Epic Member So. NH

That's assuming you file for early retirement benefits. If you were born after 1960 then full retirment is at 67. If you file at 62 then you only get 70% of the monthly amount. This is still over 40 years away for me, but if I'm living comfortably at 62 I'll probably just hold out for a few more years to get the bigger check.

You were born in 1955 so at 62 you'd get a check for 74.2% or 100% at 66 years and 2 months old.

Barney13 Senior Member where u all wanna be...

Holding out till full retirement age is smart, but regardless, your FERS supplement stops @ age 62.
Good Luck..
Things out here in academy land r going to get busy again.
The new tower class numbers are going to 18 per class.