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Redeposits
- Employees receiving a retirement refund under CSRS must make a redeposit before service can be credited in the computation of annuity benefits
- The amount of redeposit consists of amount of refunded plus interest.
- If refunded service ended before October 1,1990, employee need not pay back redeposit, annuity will be recalculated as if a lump-sum distribution were made.
- Redeposit of refund for service after September 1, 1990 must pay both principle and interest to receive credit.
Deposits
I. Creditable service Prior to September 30, 1982
A. Deposit Made
- 7% of total earnings during sub-time
- 3% interest from date of full time CSRS service until payment is made or retirement
II. Creditable Service After September 01,1982
A. Deposit Made
- 7% of total earnings during sub-time
- Current interest
B. Deposits Not Made
- If a deposit is not made for such service, no credit will be allowed in the computation of annuity.
Important Dates — Non Career Service
Prior to 10/1/82
Deposit service performed prior to this date does not require payment for service to be creditable for COMPUTATION purposes. If deposit is not made, annuity is reduced by 10% of deposit due.
After 10/1/82
Deposit service performed on/after this date requires payment for service to be creditable for COMPUTATION purposes.
After 4/7/86
Part-time service performed on/after this date is pro-rated for COMPUTATION purposes. Only hours worked will be used.
After 1/1/89
Non-Deductive service performed on/after this date, not creditable under FERS for both eligibility and computation purposes.
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