Q: I will be retiring when I am 62 and my wife is 64. Currently my health care works fine but I am lost when it comes to Medicare. When we hit 65 are we required to get Medicare parts A and B? And if we do have to get Medicare, which one will be our primary? A: If you have had Federal Insurance Contributions Act (FICA) deductions taken from your pay, you will be eligible for Medicare Part A. If you are retired, you won’t have to pay any premiums for this benefit. On the other hand, with Medicare…
Monthly Archives: November, 2010
Q: If I choose to take the Social Security supplement, is it true you get 75 percent of what you are eligible for at the age of 62? At the age of 62, will my benefit be reduced because I drew dollars from there? If so, how much? Example: If my SS statement says $1,000.00 at the age of 62, will I receive $750.00 each month? At the age of 62, will I receive $1,000.00 each month? Thank you. A: First, you don’t have a choice. If you are eligible for the special retirement supplement, you’ll receive it in your…
Q: I have been working for the federal government since January 1989. My first four years were as a temporary employee. It seems I can only buy back about six to nine months of this. I am under the FERS retirement and it has designated 56 as my minimum retirement age. I know that I would get reduced benefits, but I would like to retire with 25 full years. Can I retire with 25 years before my MRA? If I can, what would the reduced benefits be? I am looking to retire as early as I possibly can from federal government. I am not worried about the…
Q: I currently have an employee who insists on retiring at the end of the current year. This individual has agreed to work as a part-time rehired annuitant for a period not to exceed one year. The issue is this: She has 240 hours of carry-over leave, 168 hours of unused leave for this year and 120 hours of restored leave. Can the individual get paid for the leave and return to work immediately? A: No. She would lose any leave that exceeded 240 hours, and that 240 hours would be carried over to her temporary position. Because unused leave is…
Q: I retired from the Army with 23 years of service. I am currently receiving VA disability compensation for 90 percent disability (tied to service during combat as well as peace time). I am also receiving my Army retirement and a portion of that is under the concurrent receipt of benefits due to line of duty injuries. I am considering a GS 15 billet but am not sure what my alternatives are for retirement and my military retirement. Would I give up my entire military retirement or just the portion not concurrent receipt related? How do they calculate how much I would…
Q: Once you begin taking the TSP via monthly payments can one change and have an annuity purchased through MetLife? A: This is not currently an option for purchasing a MetLife annuity through the Thrift Savings Plan.
Q: Are federal employees authorized to use compensatory leave when they are performing military duty either on active duty orders or on military training status? National Guard Technicians routinely use compensatory leave for military duty when they have exhausted their military leave. A: I haven’t found anything that says you can’t use compensatory time in lieu of annual leave while on active duty.
Q: I plan to retire on Dec. 31 under FERS. I will have 320 hours of annual leave at that date. I have been asked to come back to work on Jan. 11, 2011 in a temporary appointment. I know if I get paid for my annual leave I would have to pay back the value of the leave if I return before the 320 hours would have been used. Can payroll withhold payment of the annual leave until I return and recredit it to me? Since it is more than 240 hours (use or lose), will I lose any of…
Q: In May of 2002 I retired from the U.S. Army Reserves. At that time I had 29 years of military service, almost five of which was spent on active duty from 1972 -1977 and the remainder was in the Active Reserves. I will collect my military reserve pay in two years at age 60. I have just recently taken a job with the Department of Justice and am in FERS. My question is: If I buy back my active duty military time within FERS (approximately five years) will these same five years be factored into my Reserve Retirement Pay calculation…
I’ve been a FERS disability retiree since 2004. I’m writing because I’m trying to decide if it’s safe to re-enter federal service and not lose my annuity. I still have good skills and would like to do something productive if given the opportunity. My understanding is that under FERS disability I can return to federal service and not have my annuity terminated under certain conditions. Q1: I need to make sure (1) I don’t exceed 80 percent of my outgoing basic pay and (2) avoid accepting a job similar to the one I left. Is this correct? Example, my 80 percent ceiling is…