naf retirement vs gs retirement

One is a GS 7 doing something that I have done for a while and the other is a NAF 4 with more of a "position" doing something that I think I would find both challenging and rewarding. section 1132, permits employees in CSRS and Federal Employees Retirement System (FERS) to use prior NAF service to qualify for an immediate retirement. This minimum retirement age establishes the youngest age at which a federal employee can retire if they have enough years of service. I opted to retain my NAF Retirement without really analyzing it. I was ARMY NAF prior to becoming a GS employee. The plan covers all employees in the executive, judicial, and legislative branches of … While all FWS jobs are paid hourly, NAF employees are more likely to work fewer than 40 hours per week. I'm starting to look into it more now with only the references found on this site. The exact age can vary by the year of an employee's birth. Pay for NAF jobs is typically lower than that of AF jobs. Within the FWS Schedule jobs are identified as AF for Appropriated Funds or NAF for Non-Appropriated Funds. A. Each fund type receives slightly different benefits. Federal workers were required to pay between 7-8% of their pay each year, and in return, they would receive a pension based on a certain formula. Postal Service I have to decide on whether to keep the NAF retirement plan. I am leaving NAF service and going GS. The Federal Employees Retirement System, or FERS, is the retirement plan for all U.S. civilian employees. • The 180-day restriction is in place unless the hiring official requests and receives an approved waiver. The TSP and NAF retirement seemed pretty comparable with the NAF retirement being better than the pension but matching less on the 401k/TSP. The Federal Employees Retirement System (FERS) has a minimum retirement age that is less than 65. It is often the date of his/her first federal appointment that was covered under the Civil Service Retirement … When a Department of Defense (DOD) or Coast Guard NAFI employee (as described in 5 U.S.C. date of military retirement as an appropriated fund (GS), or non-appropriated fund (NAF) civilian employee unless the position is covered by a special salary. Fact Sheet: NAFI Employees Moving to General Schedule (GS) Positions - Setting Pay Description. For moves from Civil Service to NAF For moves from NAF to Civil Service Crediting DOD or Coast Guard NAF Service for CSRS or FERS to immediately qualify for retirement under Section 1132 of Public Law 107-107 I am having a difficult time deciding which one would be better for me as far as a long term career with upward mobility and potential retirement. The federal retirement service computation date includes the service that is creditable in determining if a federal employees is eligible for retirement. I currently have NAF retirement and a 401(k). Civil Service Retirement System (CSRS) If a federal government employee was hired before 1983, they were eligible for a type of pension under a program known as CSRS (Civil Service Retirement System). The links below provide the Retirement Election Forms and Instructions for moves on or after December 28, 2001. I was advised once before this is a better plan than FERS and TSP, but recently was told otherwise. After 28 December 2001, participating employees of the U.S. Army NAF Retirement Plan who accept appropriated fund employment within one year of NAF separation may exercise their right to remain in the Army NAF Retirement Plan, in accordance with Public Law 107-107. The Defense Authorization Act for fiscal 1996 provided new retirement coverage elections for certain employees who moved within one year between the NAF … Please refer to the A chronology of portability laws is provided at page 4 of this Handbook, followed on page 5 by Do you have any information that breaks down the pros and cons of each benefit system? Credit for NAF service under this law will not result in higher CSRS or FERS annuity benefits.

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