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Extra "Credit" for GS Employees with Prior Military Service Thumbnail

Extra "Credit" for GS Employees with Prior Military Service

Veterans Benefits Managing Your Finances

If you are or are going to be a GS (Government Service) employee or SES you'll want to make sure you take advantage of two special credits that are available to you.

Annual Leave Credit

Your annual leave is calculated based on your hire date and it is a valuable benefit. Specifically, you earn the following:

  • Those with 0 - 3 years of service earn 4 hours of annual leave per pay period (2 weeks)
  • Once reaching 3 years of service until 15 years of service you'll earn 6 hours of annual leave per pay period
  • And finally, those with over 15 years of service earn 8 hours per pay period

You can get credit for time towards these brackets for portions of your uniformed service. For longevity retired individuals credit is granted for service during a war declared by Congress (note WWII was the last declared war) or while participating in a campaign or expedition for which a campaign badge is authorized. That includes most of our operations since 9/11 and operations in Iraq prior to that date. There are many others. Note that you have to participate in the campaign or expedition, not just be serving during the timeframe of the campaign.

If an individual was retired due to a disability and if an injury that caused the disability occurred during a period of war then the credit includes all active duty time. Note that period of war is more inclusive than declared war and includes WWII, the Korean conflict, Vietnam era, and the Persian Gulf War and that the injury must have been received as a direct result of armed conflict or caused by an instrument of war in the line of duty.

Reduction in Force (RIF)

Like leave accrual, if a RIF is implemented, seniority will be a factor in decisions. If you are a military retiree who is preference eligible for RIF purposes then all of your active duty time will count towards to your seniority during a RIF. For those who retired due to longevity, the time is calculated the same way as for leave accrual.

How do You Document Your Service

If you earned an Armed Forces Expeditionary Medal, Navy Expeditionary Medal or Marine Corps Expeditionary Medal, you have qualifying time. Based on recent Ops Tempo, you probably have several. Check your evaluations and your DD-214

Military Finances are Different

We think financial planning includes a whole lot more than managing your investments. A financial plan should include and take advantage of all your benefits. We also think most financial planners out there won't be aware of your military and veterans benefits. That's why we think you should work with a financial planner that works with the military each and every day. If you'd like to find out more about our services give us a call or click on the button below to schedule a free initial consultation.

If you found this blog post useful, you might like the following blog posts:

Retired Military Officer Working as a GS? Did You Attend a Service Academy? Check This Out!

Can the VA Reduce My Disability Rating?

Is VA Long-Term Care a Replacement for Long-Term Care Insurance?

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