Q. I am eligible for an immediate retirement right now, and have been for some time. If I was to submit my forms now and give two weeks notice, would I lose anything? I assume that eventually the annuity would catch up — regular payments plus retroactive payments earned while the paperwork was in the works. However, I haven’t heard of anyone doing that — everyone seems to pick a date well in the future, long after the initial form submission. A. While it is the most prudent way to assure a trouble-free transition to retirement, there isn’t any requirement…
Monthly Archives: March, 2010
Q. I worked for the federal government in a DoD position. After 18 years in this position I quit and went to work in the contracting sector. I’m applying for a position now and it states on the job announcement that former and current civil service employees may apply. Will I have any problems getting on after a break in service of over 10 years, and do my past 18 years still count for leave and retirement purposes? A. I don’t know if you’ll “have any problems getting on,” whatever that means. However, I can tell you that if you…
Q. I am 36 years old and plan on retiring at age 40 from the VA, giving me 10 years of service, during which time I have been continuously enrolled in FEHB. I know I will not be eligible for my annuity until around age 60, which means I will not be eligible for FEHB from age 40-60. However, once I reach age 60 or so, and start collecting my annuity, will I be eligible to enroll in the FEHB again? I know you have to enrolled for the five years of service prior to retirement, but does that mean…
Q. I was in the Marine Corps for 22 months from 1969-1971. I will be 63 years old in May 2010. I started work at the VA hospital on July 3, 2006 and am currently still employed. I bought back (made deposit for) the 22 months military time in 2008. I am getting conflicting answers from the HR dept. 1. When can I retire with the “age 62 and five years” rule? I was first told by HR that my 22 months buyback would count towards the five years but am now being told it will not and that I…
Q. What are the chances of this outright government theft of our hard-earned Social Security benefits — the windfall elimination provision — being moved forward, through both houses of Congress, repealed and how soon? A. The chances are the same as they’ve been for years, not that hot. One reason is that your reason for eliminating it is unsound. Before the law was changed in 1983, employees who worked in jobs not covered by Social Security, such as CSRS, had their benefits computed as if they were long-term, low-wage workers. As a result, they received the advantage of a higher…
Q. I am a federal employee under FERS retirement. I would like to leave federal service with 21 years of service at age 57 (MRA=56). I also have over five continuous years of enrollment in FEHB. I am considering the deferred retirement. Question One: Can I start my FERS annuity at age 60, without any penalties? Question Two: can I re-enroll in FEHB and will my agency make similar contributions as when I was federally employed? A. Under your scenario of age 57 and 21 years of service, you would have to retire under the MRA+10 provision. Your annuity would…
Q. The IRS allows payment from a Health Savings Account of both age 65 & older retiree health care premiums when provided by the employer and Medicare premiums. Is there a special form to make arrangements to individually pay my age 65+ FEHB premiums from my HSA account rather than via automatic deduction from my pension? I continue to enjoy excellent health, and with the interest rates so low on HSA accounts, I would just as soon use my HSA account to pay my premiums. A. My understanding is different from yours. As I read the IRS guidelines, an HSA-eligible…
Q. I am inquiring about retiring from one government agency and then working for another. If an individual is eligible to retire from DoD, meeting both age and time requirements, and starts to receive his pension, is it possible to then start working for another federal agency, such as the General Services Administration or Transportation Department, and ultimately receive another pension from this agency when eligible? If not, would this time with the new agency be added to time spent with DoD and his pension figured based on the combined time? I have seen individuals work for the state government,…
Q. I saw your Web site and am wondering if you might be able to clear up some confusion. My 85-year old mother-in-law receives a pension from the Postal Service, and has health insurance through the Postal Service. She is a retiree. My understanding is that Medicare is her secondary payer. Do you know if the Postal Service health insurance requires that Medicare be the secondary payer, or if she can choose? This is crucial, because she has had a stroke and needs to be in a rehab facility. She is unable to answer many of the questions her children…
Q. You answered a previous question that sick time earned under FERS can be reinstated even after a separation of federal service of more than three years. I was separated for nearly 10 years and then rehired in December 2009. I had over 300 hours of sick leave under FERS. My current human resources manager claims she has no idea how to get my sick time reinstated. Can you tell me the process and/or forms that HR needs to submit, and to whom? A. On Dec. 2, 1994, OPM issued final regulations that allow those who are re-employed on or…