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The formula for how much the buyback will cost you would be the total amount of base pay received while in the military and not contributing to retirement, and multiplying this by 3% if in FERS, or 7% if in CSRS.
Do I lose my military retirement if I buy back military time?
Obtain Estimated Earning statement and DD214, then fill out SF 3108 or SF 2803. (In most cases SF 3108 will be the form needed). If you are a Federal Employees Retirement System (FERS) employee, fill out the Application to Make Service Credit Payment, SF 3108.
How do I get my military earnings statement?
How do employees get copies of their military leave and earnings statements (LES)? Employees can access their LESs through their military pay account, MyPay. MyPay stores only the previous 3 months of LESs for reservists. If employees need copies of older LESs, contact MyPay customer service at 1-888-332-7411.
How to fill RI 20 97?
Instructions: Use a separate RI 20-97 for each branch of service. Attach DD 214 or the equivalent and any available records of pay or promotions. The pay center cannot provide estimated earnings without verification of service. The requester must complete blocks 1 through 10 and block 19.
Is military buyback worth it?
Yes - highly recommend. Even if you only do enough time to get ``vested - the buy back is most certainly worth the $ youll get for the extra years on the back end.
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form ri 20 97
Estimated Earnings During Military Service
Instructions: Use a separate RI 20-97 for each branch of service. Attach DD 214 or the equivalent and any available records of pay or promotions. The pay center
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