Q. I was employed by the Defense Department from 1961-1966 and then by the NSA from 1966-1975. I took a lump-sum payout of the retirement benefit at that time. I am now 67 years old. Is there any option to buy back into the system? A. You would only be able to do that if you went back to work for the federal government.
Monthly Archives: August, 2010
Q. I’m in a LEO job 26 years, 51 years old. (started when I was 25). If I retire now, I’m entitled to the supplement (provided by OPM, not Social Security), yet it is computed on my 26 years of federal service divided by 40. My question is what happens to my five years of Social Security service prior to my 26 more years of SSA service? A. The special retirement supplement is designed to approximates the Social Security benefit you earned while employed under FERS and is paid out of the civil service retirement fund. While non-FERS Social Security-covered…
Q. I served in the Navy back in the middle 1990’s for four years. I am now a federal employee for about 1.5 years and might be leaving the federal government. If I request to have my military service time be credited into FERS, I would have to pay a small amount of money since my salary during those years averaged around $12,000 per year. I want to know is it worth trying to have my service time credited into FERS and leave with 5.5 years in the FERS system? My salary now is a GS-14 level, so would that…
Q. I am on federal disability from the U.S. Postal Service since 2001, I am currently on Social Security disability and reaching 62. I plan on applying for regular Social Security at age 65. I know my federal disability is recalculated to regular retire at 62, but since I am still disabled and receiving Social Security disability, will my FEHB continue until age 65 or will they stop it at 62? A. Your FEHB coverage will continue without a break.
Q. I am in the CSRS system with 34 years in federal service and I am over 55 years of age. I have an excess of 240 hours of annual leave. I am thinking of retiring Jan. 1, 2 or 3 of 2011. If I retire on Jan 1, 2011, which is the end of the leave period and is on a Saturday, I would receive my excess leave in addition to the 240 hrs. If I retire on Jan 2 or 3, will I lose the excess leave? A. Yes
Q. I had interviewed for a competitive Civil Service position in another agency. If I were selected, could I transfer my 25 years of excepted Civil Service (including accrued leave) into that position? Both my current and prospective positions are GS-6. A. As a rule, the answer is yes. However, if you are offered a position in another agency, you should check with them to be sure it’s true in your case before accepting the position.
Q. I will soon be accepting a GS position. I was told that since I am “retired” military, no credit will be given to my leave accrual. I have a total of 26 years, about half each as active duty and the remaining served as a Navy reservist. I will not be getting any retirement pay until age 60, seven years from now. It does not seem fair to have served 12-plus active-duty years plus served the additional years to be retirement-eligible and not be given this credit in comparison to some others that served for three years but did…
Q. I am a federal employee with 35 years of service. I switched to FERS in 1987, and have been working continuously. I am age 56 1/2, I have reached my MRA and would like to retire. My spouse worked his entire life and contributed to Social Security, but now at age 60 has been disabled and is drawing Social Security disability. My question regards the “special retirement supplement.” When would I start receiving it, and will it be reduced because of my spouse’s situation? A. You’d receive the special retirement supplement concurrently with your annuity. It would approximate the Social…
Q. If one buys back their military time, is the money paid for the buyback nontaxable? A. No.
Q. I am employed by the Postal Service and covered by CSRS. I turned 66 this past spring and applied for and now receiving Social Security benefit checks. I applied at my local office and was told that as long as I keep working, I am not subject to WEP but when I retire, it will kick in and I must inform them. Is this true? A. Yes