Ed and Dan explain the importance of making deposits for "non-deduction" service, which can help employees meet retirement eligibility and increase their annuity. The episode covers how to make these deposits, types of qualifying service, and the process for employees with prior service to ensure they get credit for those years.
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FedLife Podcast (ep. 138): FERS Retirement Prep – Deposits for “Non-Deduction” Service (Part I)
Explore the concept of non-deduction service and learn how making these deposits can help employees meet retirement eligibility requirements and boost their retirement benefits. Ed and Dan also provide practical examples to illustrate the process.
Featured in this episode:
- Overview of Minimum Retirement Age and Service Requirements
- What is Non-Deduction Time?
- Types of Non-Deduction Service Eligible for a FERS Deposit
- Service Types That Do Not Qualify for a Temporary Service Deposit
- Deposit Amount for Temporary Service Under FERS
- How FERS Employees Can Make a Deposit for Non-Deductive Service
Source Article:
Preparing for FERS Retirement: Making Deposits and Redeposits - Part I
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