Q: Can an active-duty service member roll his retirement into government service and add those years together with existing military service years? This was possible 20 years ago or so, but I was wondering whether it still is an option. I’m a 27-year veteran about to retire, and I’d rather go straight into government service and forego my retirement check from the military, if that is possible. A: Nothing has changed. You can make a deposit to the civilian retirement system for any years of active-duty service and, if you are eligible for military retired pay, waive that pay when…
Monthly Archives: October, 2010
Q: I am a civilian federal employee who started with the government in September 1986. Is it true that no retirement deductions were taken until Jan. 1, 1989? If this is true, how can I get credit for the two-plus years during which no deductions were taken? A: If you were hired into a position that required deductions from your pay, you would have been covered by Civil Service Retirement Offset (CSRS and Social Security) for the months preceding Jan. 1, 1987, when the Federal Employees Retirement System went online. Your CSRS Offset time would have been converted to FERS…
Q: I am a retired postal annuitant on Medicare. I heard that letters were sent out in the spring inviting insurers to offer a health care supplement for people such as me, so that I don’t have to pay for a full-blown plan when I also have Medicare Parts A and B. I cannot find any insurers offering such a plan for 2011. Are there any plans being offered? Who offers them? Are there any fee-for-service insurers? A: I don’t know if OPM had any takers. We won’t know that until it makes its Federal Employees Health Benefits open season…
Q: I retired from the Navy after 20 years of service. I was on active duty for eight years and then on reserve active duty for 12. I am 47 and receiving retirement pay. Since I retired as a reserve (my DD 214 shows component/branch as “U.S. Navy-USNR”), can I buy back my time and put it toward my Federal Employees Retirement System retirement? A: You may make a deposit for any period(s) of active-duty service. If you do, that time will be used in determining your length or service and in your annuity calculation. Making a deposit for that…
Q: I retired from the Navy after serving 20 years. I now work for the state of Georgia. Will my service in state government be the same as working for the federal government? Can I receive a pension from the state after 10 years (which will be 30 years of total service, in 2018)? A: No, it won’t be the same as working for the federal government. The two forms of employment aren’t interchangeable. You’ll have to check with your state to find out if any of your military service would be creditable and what the requirements are to retire…
Q: I’m in a 6C law enforcement covered position and will be reaching 20 years of service in that same position this coming January. I will be 46 years old. As soon as I reach 20 years, can I transfer out of the LE series to an administrative job (no 6C coverage) and still have my complete enhanced retirement benefits when I decide to retire 10 years from now? A: Yes, you can.
Q: My husband passed away Jan. 25, 2009, and I’m receiving his Social Security benefits, as well as benefits from the U.S. Postal Service. If I remarry, will I lose the benefits from the USPS? I know I will still collect his Social Security. A: Unless you were to remarry before age 55, your survivor annuity wouldn’t be affected. If you did remarry before age 55, that annuity would be suspended. It could only be restarted is the marriage were ended by annulment, divorce or the death of the new spouse.
Q: I’m under the Federal Employees Retirement System and plan to retire at minimum retirement age (56) with less than 30 years of service. Is the 5 percent per year penalty based on each year short of 30 years, or is it based on each year short of age 62? I’ve seen it explained both ways. Also, is the actual penalty based on fractions (months) or whole years? A: If you retire under the MRA+10 provision (minimum retirement age with at least 10 years of service), your annuity will be reduced by 5 percent for every year (or 5/12 of…
Q: I retired with Civil Service Retirement System at 50 years old with 25 years’ law enforcement service. I’ve been self-employed for the past three years and reached my 40 quarters, including my pre-federal employment. I make a decent self-employment income now at around $90,000, and pay substantial Social Security quarterly payments. My concern is that basically the offset is going to take away most of my Social Security pay at 62/65. That said, are my payments to Social Security still mandatory? I realize my quarterly taxes are, and the IRS distributes them accordingly. A: Deductions for Social Security are…
Q: I worked for the federal government from 1968 to 1986, then worked in the private sector from 1987 to 2005. I withdrew my retirement money when I left government service. If I return to federal service, should I opt to be placed in the Federal Employees Retirement System or Civil Service Retirement System? I assume it would make sense to re-deposit the money I withdrew and pay the interest? A: If you returned to work for the government you would be placed in CSRS Offset (CSRS and Social Security) with the option of transferring to FERS. Even if you…