Ri 20 97 Form
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People also ask
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Do I lose my military retirement if I buy back military time?
If you are drawing a military retirement/pension you are allowed to buy back your military time but if you do then you will need to waive your military retirement once you retire from federal service. For example, let's say you did 20 years in the Army and are currently getting a monthly military retirement check. -
What is RI 20-97?
You must complete an RI 20-97, Estimated Earnings During Military Service, and mail it to the appropriate military finance center (see attached listing), with a copy of all DD Forms 214. If you already have your estimated earnings, go to Step 2. -
Does buying back military time affect VA disability?
If you are receiving military retired pay, it does not impact your Federal Disability Retirement, but you will not be able to buy back your military years if you are receiving military retired pay. -
What happens after I buy back my military time?
The Military Buyback Program is a benefit for all veterans with active duty military service time to receive credit for their military service time to be added to their years of civil service with the government and increases their retirement annuity. -
Where do I send my RI 20-97?
For Army and Air Force, fax the RI 20-97 to 317-275-0123 or send via e-mail to ccl-catch-62@dfas.mil. -
Is it worth it to buy back your military time?
Another benefit to buying back military time is that in addition to the higher retirement pension, you may be eligible to retire sooner. So if you're right on the 'cusp' of being eligible to retire – buying back your military time might make you eligible to retire sooner than you had thought. -
What is the interest rate for military buy back?
Military Buy Back Program Q&A Dates of Military ServiceAmount of Deposit Due for FERS01/01/1957 through 12/31/19983.00% of military basic pay01/01/1999 through 12/31/19993.25% of military basic pay01/01/2000 through 12/31/20003.40% of military basic pay01/01/2001 to the present3.00% of military basic pay 5 days ago -
Is it worth it to buy back military time?
Another benefit to buying back military time is that in addition to the higher retirement pension, you may be eligible to retire sooner. So if you're right on the 'cusp' of being eligible to retire – buying back your military time might make you eligible to retire sooner than you had thought.
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