No Civilian Pensions for Military Retirees?

"...To address long-term sequester cuts, the Defense Department is mulling numerous reductions that will affect civilian employees, including doing away with civilian employee pensions for military retirees who go back to work for the government as civilian employees.

The savings could be almost $100 billion over 10 years when combined with a halt to commissary subsidies and restrictions on the availability of unemployment benefits, Defense Secretary Chuck Hagel told reporters last week in summarizing the recommendations of the newly completed “Strategic Choices and Management Review.”

“A sequester-level scenario would compel us to consider these changes because there would be no realistic alternative that did not pose unacceptable risk to national security,” Hagel said..."

Read more at Federal Times

Military and Federal Retirement Pension

"...I receive military retirement pay under FERS for 21 years of service in the Air Force. I started working a job as a federal civilian employee two years ago. I did not buy back my military time. If I continue to work as a federal civilian for another seven years (bringing my total federal
service to 30 years), how will my retirement pay be affected? ..."

Read more at federaltimes.com

CSRS, FERS, and Military Credit transfer

"...If I transfer to FERS, what happens to credit for my military service?

Answer: Except for a very small category of employees described in paragraph 2 (below), nothing will change. It will continue to be creditable in a CSRS component of your benefit, and the same rules that applied when you were under CSRS will continue to apply. These basic rules are: ..."

Read more at opm.gov