New job means new annuity

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Q: Can a Federal Employees Retirement System retiree get another FERS position after retirement? Will one’s retirement pension time be recalculated? Are there other considerations?

A: Yes. Unless you are hired into a position that allows you to receive both your full annuity and the full salary of your new position — for which you would get no additional retirement credit — your salary would be reduced by the amount of your annuity. If you worked for at least one year, you’d be eligible for a supplemental annuity. If you worked for five years or more, you’d be eligible for a redetermined annuity, which would be based on your pre- and post-retirement service.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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