Difference between pages "Forms" and "Retirement"

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(New page: Employees who are covered under the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS) are eligible to receive credit towards retirement for their Pea...)
 
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Employees who are covered under the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS) are eligible to receive credit towards retirement for their Peace Corps Volunteer service. To do so, you must make a deposit for this period of service.
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While you are a Peace Corps Volunteer, no money is deducted from your monthly readjustment allowance for retirement. Your deposit is an amount equal to the money that would have been deducted and put into the retirement fund, plus any accrued interest. The amount you pay to receive retirement credit under FERS is 3% of your monthly readjustment allowance plus interest. Under CSRS the deposit is 7% of your monthly readjustment allowance plus interest.
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Like all big organizations, Peace Corps has a lot of forms and it can be daunting for both the applicant and current volunteer to know which form to use; or even if the form exists!
 
  
In the [http://www.peacecorpsjournals.com/manual/ Peace Corps Manual] there is even a section on the [http://www.peacecorpsjournals.com/manual/MS890.html management of forms] and they even have a [http://www.peacecorpsjournals.com/manual/MS890-B.doc form about forms]
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Deposits made more than two years after October 1, 1993, or more than two years after the date on which the individual making the deposit first becomes a covered employee, whichever is later, must include interest, compounded annually and beginning on the date of the expiration of the two-year period. Please remember, your training period is not creditable service.
  
Below is a user-supplied list of forms relating to serving with the U.S. Peace Corps.
+
Why should you make the deposit? To receive a monthly annuity from the federal government, you must be vested in a retirement system. Being vested in FERS or CSRS requires five years of creditable civilian service. Peace Corps staff positions are limited to 30-month tours, so having your volunteer service credited toward retirement frequently adds enough time to meet the vesting requirement.
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[[Image:Wallofforms.JPG]]<br><center>'''Don't Panic!''' breathe...</center>
 
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Also, under FERS, your retirement annuity is calculated as 1% of the average of your high-three average salary multiplied by your number of years of service. So, additional years will increase the amount of your annuity.
  
 +
For example:
 +
High-3 is $70,000 and 20 years of service<br>
 +
1% of $70,000 is $700<br>
 +
$700 x 20 is $14,000 annuity per year<br>
 +
Adding two years increases the annuity: $700 x 22 is $15,400<br>
  
==Applicants==
+
Or, if you are under CSRS, your annuity is calculated as 1.5% of your high-3 for your first five years of service, 1.75% of your high-3 for the next five years and 2% of your high-3 for any remaining years.
  
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Once you are hired in a permanent appointment, you may begin the service credit process by completing a SF-3108, FERS Application to Make Service Credit Deposit for Civilian Service or a SF-2803, CSRS Application for Deposit or Redeposit (available at your agency's human resources department). After completing the application, request a Verification of Service letter from Volunteer and PSC Financial Services at the Peace Corps (address provided below), and submit it to your agency's human resources department. Your agency will finalize the application and send it to the Office of Personnel Management (OPM). OPM will then calculate the amount you must pay for retirement credit and bill you directly. Payments are made to OPM.
|-
 
! width="300" | Form<br>
 
! width="300" | Descriptions<br>
 
! width="300" | Source<br>
 
|-
 
| [https://www.peacecorps.gov/apply/now/index.cfm?& Application Form]
 
| Application
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Romantic.pdf Romantic Involvement Worksheet]
 
| Application
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Vegetarian.pdf Vegetarian Questionnaire]
 
| Application
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Withoutspouse.pdf Serving Without Spouse (SWO) Questionnaire]
 
| Application
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://www.peacecorp.gov/multimedia/pdf/library/peacecorpsmedinfo.pdf Peace Corps Medical Information for Applicants]
 
| Application / Medical
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Exam_eye_pc116v.pdf Prescription for Eyeglasses]
 
| Application / Medical
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Exam_dental_pc1790D.pdf Report of Dental Evaluation]
 
| Application / Medical
 
| [[Medical and Dental Forms]]
 
|-
 
| [http://peacecorpswiki.org/images/Exam_medical_pc1790S.pdf Report of Medical Evaluation]
 
| Application / Medical
 
| [[Medical and Dental Forms]]
 
|-
 
| [http://peacecorpswiki.org/images/Physical_abilities_form.pdf Report of Physical Abilities]
 
| Application / Medical
 
| [[Medical and Dental Forms]]
 
|-
 
| [http://peacecorpswiki.org/images/ReferenceForm.pdf Confidential Reference Form]
 
| Application / References
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Expense_dental_pc1570d.pdf Authorization for Applicant Medical Expenses – Dental Examination]
 
| Application / Financial
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Expense_eye_pc1570v.pdf Authorization for Applicant Medical Expenses – Eyeglass Prescription & Measurement]
 
| Application / Financial
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Expense_medical_pc1570p.pdf Authorization for Applicant Medical Expenses – Physical Examination]
 
| Application / Financial
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|-
 
| [http://peacecorpswiki.org/images/Studentloans-lg2.pdf Student Loans]
 
| Application / Financial
 
| [http://www.peacecorps.gov Peace Corps Headquarters]
 
|}
 
  
== Volunteers ==
+
Receiving a bill from OPM in no way obligates you to make the service credit payment. However, interest will continue to accrue until the payment is made. If you choose not to make the payment, you will not receive credit for your Peace Corps Volunteer service in your retirement calculation.
  
{| class="wikitable sortable" border=1 style="text-align:center"
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For your reference, a copy of the Public Law 103-82 allowing Volunteer service to be creditable towards retirement is available in HRM. The CSRS and FERS Handbook is also available on OPM's website. If you have any questions, please contact: Certifying Officer, Volunteer and PSC Financial Services, Peace Corps Headquarters, 1111 20th Street NW, Washington, D.C.20526; or phone 202.692.1770.
|-
 
! width="300"| Form<br>
 
! width="300" | Descriptions<br>
 
! width="300" |Source<br>
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-A.doc Settling-in Allowance Volunteer Survey]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-B.doc Analysis and Request for Change in Settling-In Allowance]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C.doc Guidance for Completing the Market Basket Survey and Volunteer Living Allowance Survey]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-A1.xls Market Basket Survey - Template A1]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-A2.xls Market Basket Survey - Template A2]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-B.xls Market Basket Survey Worksheet - Template B]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-C.doc Living Allowance Survey Cover Sheet - Template C]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-D.xls Living Allowance Survey - Template D]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-E1.xls Living Allowance Data Worksheet - Template E]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-F.xls Living Allowance Data Analysis - Template F]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-C-G.xls Comparison of Market Basket Survey and Living Allowance Results - Template G]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS221-D.doc PC-477 Peace Corps Volunteer Certificate of Non-Indebtedness and Accountability for Property ]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS221.html MS 221: Volunteer Allowances]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms223-ef%5B1%5D.pdf Designation of Beneficiary for Peace Corps Life Insurance]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS223.html MS 223: Volunteer/Trainee Readjustment Allowance]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms223-gf%5B1%5D.pdf Application to Allot or Withdraw Readjustment Allowance]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS223.html MS 223: Volunteer/Trainee Readjustment Allowance]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms223-hf%5B1%5D.pdf Authorization for Purchase of U.S. Savings Bonds By Volunteer]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS223.html MS 223: Volunteer/Trainee Readjustment Allowance]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms223-hf%5B1%5D.pdf Authorization for Purchase of U.S. Savings Bonds By Volunteer]
 
| Volunteer Leave and Allowances
 
| [http://www.peacecorpsjournals.com/manual/MS223.html MS 223: Volunteer/Trainee Readjustment Allowance]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/pc_2066.pdf Certification of Eligibility for Deferment of Repayment of Student Loan Based on Service as a Peace Corps Volunteer]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS231.html MS 231: Volunteer Education Loans]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/pc_2067.pdf Certification of Eligibility for Student Loan Cancellation Based on Service as a Peace Corps Volunteer]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS231.html MS 231: Volunteer Education Loans]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms232-af.pdf Peace Corps Volunteer Certificate of Non-Indebtedness and Accountability for Property]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS232.html MS 232: Volunteer In-Country Debts to Third Parties]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS235-A.pdf Non-evacuation Volunteer/Trainee Property Claim Form]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS235.html MS 235: Volunteer/Trainee Losses of Property and Cash]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS235-B.pdf Non-evacuation Volunteer/Trainee Cash Claim Form]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS235.html MS 235: Volunteer/Trainee Losses of Property and Cash]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS235-C.pdf Evacuation Volunteer/Trainee Property and Cash Claim Form]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS235.html MS 235: Volunteer/Trainee Losses of Property and Cash]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms236-bf.pdf Authorization to Withdraw from Readjustment Allowance Account for Payments of Federal Income Tax]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS236.html MS 236: Volunteer Allowances and Federal Income Tax]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms236-bf.pdf Authorization to Withdraw from Readjustment Allowance Account for Payments of Federal Income Tax]
 
| Volunteer Taxes, Loans, Debts, Reimbursements
 
| [http://www.peacecorpsjournals.com/manual/MS236.html MS 236: Volunteer Allowances and Federal Income Tax]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms253-af.pdf Reference Standard Form 76 "Official Election Balloting Material-Via Air Mail"]
 
| Volunteer Support Functions
 
| [http://www.peacecorpsjournals.com/manual/MS253.html MS 253: Voter Assistance Program]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms266-af.pdf Attending Physician's Report for Dependents of Peace Corps Volunteers]
 
| Trainee/Volunteer Medical Support
 
| [http://www.peacecorpsjournals.com/manual/MS266.html MS 266: Post-Service Medical Benefits for Volunteers, Trainees, and Dependents]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS284-D-ReasonCodes.doc Resignation Reason Code Reporting ]
 
| Volunteer Transfers, Completion of Service, Termination
 
| [http://www.peacecorpsjournals.com/manual/MS284.html MS 284, Early Termination of Service]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS284-D-Vols.doc Resignation Form - Volunteer Copy]
 
| Volunteer Transfers, Completion of Service, Termination
 
| [http://www.peacecorpsjournals.com/manual/MS284.html MS 284, Early Termination of Service]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS284-E.doc Designation of Travel]
 
| Volunteer Transfers, Completion of Service, Termination
 
| [http://www.peacecorpsjournals.com/manual/MS284.html MS 284, Early Termination of Service]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/ms285-ad.pdf Description of Service Form]
 
| Volunteer Transfers, Completion of Service, Termination
 
| [http://www.peacecorpsjournals.com/manual/MS285.html MS 285: Volunteer Description of Service Statement and Certificate of Group Health Coverage]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS401-D.doc Medevac Access Form]
 
| Safety and Security
 
| [http://www.peacecorpsjournals.com/manual/MS401.html MS 401 Domestic Physical Security]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS543-A.doc Volunteer Computer Guidelines Signature Form]
 
| Computers and Information Processing
 
| [http://www.peacecorpsjournals.com/manual/MS543.html MS 543: Use of IT Systems by Volunteers, Trainees, and Returned Peace Corps Volunteers]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS543-B.doc RPCV Computer Usage Form]
 
| Computers and Information Processing
 
| [http://www.peacecorpsjournals.com/manual/MS543.html MS 543: Use of IT Systems by Volunteers, Trainees, and Returned Peace Corps Volunteers]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS543-C.doc Mandatory Guidelines for RPCV Use of Peace Corp-Provided IT Equipment]
 
| Computers and Information Processing
 
| [http://www.peacecorpsjournals.com/manual/MS543.html MS 543: Use of IT Systems by Volunteers, Trainees, and Returned Peace Corps Volunteers]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS720-A.doc PC-809 - PCPP Application Form]
 
| Special Funds and Accounts
 
| [http://www.peacecorpsjournals.com/manual/MS720.html MS 720 Peace Corps Partnership Program]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS720-B.doc PC-808 - PCPP Final Report]
 
| Special Funds and Accounts
 
| [http://www.peacecorpsjournals.com/manual/MS720.html MS 720 Peace Corps Partnership Program]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS720-C.doc PC-807 - Transfer of Responsibility]
 
| Special Funds and Accounts
 
| [http://www.peacecorpsjournals.com/manual/MS720.html MS 720 Peace Corps Partnership Program]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS720-D.doc PC-810 - PCPP Cancellation Report]
 
| Special Funds and Accounts
 
| [http://www.peacecorpsjournals.com/manual/MS720.html MS 720 Peace Corps Partnership Program]
 
|-
 
| [http://www.peacecorpsjournals.com/manual/MS720-E.doc PC-812 - PCPP Budget Reconciliation Memo]
 
| Special Funds and Accounts
 
| [http://www.peacecorpsjournals.com/manual/MS720.html MS 720 Peace Corps Partnership Program]
 
|}
 
  
  
 
+
==External Links==
==Returned Volunteers==
+
[http://www.peacecorps.gov/index.cfm?shell=resources.former.benefits.fedretire Peace Corps Volunteer Service Credit for Retirement] Official US Peace Corps Website
 
 
 
 
{| class="wikitable sortable" border=1 style="text-align:center"
 
|-
 
! width="300"| Form<br>
 
! width="300" | Descriptions<br>
 
! width="300" |Source<br>
 
|-
 
| [http://www.opm.gov/forms/pdf_fill/SF3108.pdf Application to Make Service Credit Payment - Federal Employees]
 
| Federal Retirement
 
| [http://www.peacecorps.gov/index.cfm?shell=resources.former.benefits.fedretire Peace Corps Headquarters]<br>[http://www.opm.gov/retire/pubs/handbook/hod.htm U.S. Office of Personnel Management]
 
|-
 
| [http://www.opm.gov/forms/pdf_fill/SF2803.pdf Application to Make Service Credit Payment - Civil Service]
 
| Federal Retirement
 
| [http://www.peacecorps.gov/index.cfm?shell=resources.former.benefits.fedretire Peace Corps Headquarters]<br>[http://www.opm.gov/retire/pubs/handbook/hod.htm U.S. Office of Personnel Management]
 
|-
 
| [https://www.clements.com/pdf/CC_faq.pdf Corps Care FAQ]
 
| Medical / CorpsCare
 
| [http://www.peacecorps.gov/index.cfm?shell=resources.former.benefits.healthben.glance Peace Corps Headquarters - Health Benefits]<br>[http://www.clements.com/expatriate/peacecorps/overview.asp Clements International]
 
|-
 
| [http://www.peacecorps.gov/rpcv/benefits/postservicehandbook.pdf Post Service Health Benefit Guide]
 
| Medical
 
| [http://www.peacecorps.gov/index.cfm?shell=resources.former.benefits.healthben.hbguide Peace Corps Headquarters - Health Benefits]
 
|}
 
 
 
==Staff==
 

Revision as of 10:09, 5 July 2007

Employees who are covered under the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS) are eligible to receive credit towards retirement for their Peace Corps Volunteer service. To do so, you must make a deposit for this period of service.

While you are a Peace Corps Volunteer, no money is deducted from your monthly readjustment allowance for retirement. Your deposit is an amount equal to the money that would have been deducted and put into the retirement fund, plus any accrued interest. The amount you pay to receive retirement credit under FERS is 3% of your monthly readjustment allowance plus interest. Under CSRS the deposit is 7% of your monthly readjustment allowance plus interest.

Deposits made more than two years after October 1, 1993, or more than two years after the date on which the individual making the deposit first becomes a covered employee, whichever is later, must include interest, compounded annually and beginning on the date of the expiration of the two-year period. Please remember, your training period is not creditable service.

Why should you make the deposit? To receive a monthly annuity from the federal government, you must be vested in a retirement system. Being vested in FERS or CSRS requires five years of creditable civilian service. Peace Corps staff positions are limited to 30-month tours, so having your volunteer service credited toward retirement frequently adds enough time to meet the vesting requirement.

Also, under FERS, your retirement annuity is calculated as 1% of the average of your high-three average salary multiplied by your number of years of service. So, additional years will increase the amount of your annuity.

For example: High-3 is $70,000 and 20 years of service
1% of $70,000 is $700
$700 x 20 is $14,000 annuity per year
Adding two years increases the annuity: $700 x 22 is $15,400

Or, if you are under CSRS, your annuity is calculated as 1.5% of your high-3 for your first five years of service, 1.75% of your high-3 for the next five years and 2% of your high-3 for any remaining years.

Once you are hired in a permanent appointment, you may begin the service credit process by completing a SF-3108, FERS Application to Make Service Credit Deposit for Civilian Service or a SF-2803, CSRS Application for Deposit or Redeposit (available at your agency's human resources department). After completing the application, request a Verification of Service letter from Volunteer and PSC Financial Services at the Peace Corps (address provided below), and submit it to your agency's human resources department. Your agency will finalize the application and send it to the Office of Personnel Management (OPM). OPM will then calculate the amount you must pay for retirement credit and bill you directly. Payments are made to OPM.

Receiving a bill from OPM in no way obligates you to make the service credit payment. However, interest will continue to accrue until the payment is made. If you choose not to make the payment, you will not receive credit for your Peace Corps Volunteer service in your retirement calculation.

For your reference, a copy of the Public Law 103-82 allowing Volunteer service to be creditable towards retirement is available in HRM. The CSRS and FERS Handbook is also available on OPM's website. If you have any questions, please contact: Certifying Officer, Volunteer and PSC Financial Services, Peace Corps Headquarters, 1111 20th Street NW, Washington, D.C.20526; or phone 202.692.1770.


External Links

Peace Corps Volunteer Service Credit for Retirement Official US Peace Corps Website