Q: I plan to retire on Jan. 3. I want to calculate what “full months” of sick leave I will have and how many hours I can use before the end of the year. I’m trying to avoid voiding a full month. I have 2,396 hours of sick leave, and at four hours per pay period, I calculate 2,436 hours, which is almost one year and two months I can use toward retirement. My concern is using sick leave in the interim. If I’m exactly at the one year, two months, I can’t use any leave, save a few hours…
Monthly Archives: August, 2010
Q: I have a total of about five 1/2 years of federal civil service but now work in the private sector. I served for about 18 months with the Small Business Association and then about four years at the Department of Homeland Security. Unfortunately, I made the mistake of taking my Small Business Association retirement contributions when I left that agency. I noticed in your article from Nov. 16 that you can redeposit amounts previously withdrawn to establish pension eligibility. By my calculation, I am entitled to a small federal pension based on five years of service beginning at age…
Q: I retired from the Air Force in November 2005 with 20 years of time. In August 2006 I started working as a federal employee. I submitted paperwork to receive credit for my active duty time in a recognized war zone and received 14 months, which pushed my EOD date back to May 2005. I know this adjusted my credit for leave, but will my start date be based off my actual EOD or the adjusted EOD? I also plan on buying back my military time before retiring. A: It will only be adjusted for retirement purposes if you complete…
Q: I’ve been on Social Security disability for a little over a year now. I’m 57. When I become Social Security age, do I get switched to Social Security instead of Social Security disability? If so how do they calculate my Social Security since I’ve been on Social Security disability. A: When you reach Social Security full retirement age, your disability benefit will become a regular Social Security benefit, although the amount you receive won’t change. Because you were born in 1953, your full retirement age is 66 and 2 months.
Q: Can a retired employee (20 years of service) GS-1811 under FERS be rehired as a GS-391? A: Yes, if you are qualified for the position. However, you need to be aware that in all likelihood the salary of your new position will be reduced by the amount of your annuity. Further, if you have already reached your minimum retirement age your special retirement supplement will be reduced or stopped because of the annual Social Security earnings limitation.
Q. I am 54 with 16 years in the federal service working as a Navy civilian. My paystub indicates I am in FERS. I don’t plan to retire until I’m 65 but I have two questions related to whether I should quit the government and work in private industry. I went to http://www.fedbens.us. Assuming my highest three-year salary of $80,000 (I think with pay increases that will be my future salary), for 16 years I see $12,800. I see for 20 years $16,000 and 26 years $20,800. According to the calculator I would get some money regardless if I stayed…
Q: My wife and I are both 63, we both work and we both qualify for the maximum benefit from Social Security. Can we both now apply for spousal benefits from each other and delay taking our own Social Security? A: No. You could only do that if you had reached full Social Security retirement age, which ranges between 65 and 67. Since you were both born in 1947, your full retirement age would be 66.
Q: My husband will be retiring from the federal government in about 21 months and has been told that cannot elect the monthly survivor annuity (he is under CSRS) if his spouse is a federal employee. Is this true? He was told that this is “double-dipping.” A: What he was told isn’t true. Unless there is a court order assigning the survivor annuity to a former spouse, he is free to elect a survivor annuity for his current spouse, regardless of whether she works for the federal government, the private sector, or not at all.
Q: I worked for the Postal Service from January 1984 to September 1996 and was involuntarily separated after 12 years. Am I still eligible for a FERS annuity — and if so, when can I begin collecting and who do I contact to begin this process? A: If you left your retirement contributions in the retirement fund, you would be eligible for a deferred annuity at age 62. Two months before you reach that age, you’d need to complete a copy of Standard Form 3107, Application for Immediate Retirement, available for download at http://opm.gov/forms/pdf_fill/sf3107.pdf, and send it to OPM.
Q: For years I have seen $0 applied in the ‘earnings’ column on my annual Social Security statement because I am a CSRS employee. CSRS wages are not considered as ‘earnings’ under Social Security and do not earn any Social Security benefit. However, I did worked a number of year in the private sector before I began my civil service employment, so I am now eligible for a small Social Security benefit based on that record alone. Since I am 62, I would like to begin to get that reduced Social Security benefit check, even though I still working as…