Q: My compensation date is July 29, 1968. I worked under CSR for 30 years and upon advice from our human resources department, I switched to FERS to get the matching funds and TSP tax-deferred deductions (which were not available to CSR workers at the time). At the same time I earned 40 quarters under Social Security (I worked a full-time job for 10 years at the same time as I started with the government full time). I am in good health and do not plan on retiring immediately, but I’d like to plan ahead. Additionally I became disabled in…
Monthly Archives: November, 2010
Q: I am a recent federal retiree. I chose to keep basic life insurance only. I read there have been changes regarding election options for FEGLI as of Oct. 1, 2010. Does that mean I can now get Option C for my spouse after I dropped it when I retired? A: No.
Q: My husband and I are planning to retire from federal service the end of this year. I have 32 years under the CSRS and my husband is retiring under CSRS-Offset with 30 years of service. I have had no health issues so we have taken out additional life insurance on me to supplement him should I predecease him. However, he has had a number of recent illnesses causing life insurance to be more costly. Therefore, he plans to elect full survivor benefit for me. Can you please explain what impact the WEP and GPO will have on me drawing…
Q: I am a federal employee under FSRDS, the old foreign service retirement system, having been under CSRS from my 1979 employment date to my conversion to foreign service in 1989. I had active-duty military time that I purchased for federal retirement. In 1968 I had about three months of civil service time with the Air Force as a civilian employee, and the $100 or so withheld for CSRS retirement was refunded to me in either the late 1960s or early 1970s. That three month’s service appears to be included in my Service Computation Date adjustment, along with the active…
Q: My husband and I are both federal retiree annuitants and have always carried self-only policies. We have been acting as parents for our 16-year-old grandaughter for nine years but she has been on Medicaid. During the open season I plan to change my self-only enrollment to self and family and would like to include my husband and granddaughter on my plan. Would my death be an event that would allow him to re-enroll in a plan (self or family) that will allow him to continue FEHB coverage? If not, he would have to remain on a self-only policy while…
Q: I am CSRS and my plans are to retire Jan. 1. 2012. I was told that the last day for use/lose is Dec. 31, 2011, so that is the day I will have to retire. I cannot retire on Jan. 1, 2012, or I will use my use-or-lose leave. When I file taxes, will it show me receiving an additional amount of money (approximately $10,000) for the year 2011 (which will put me into a higher tax bracket), or will it show as income for 2012? A: Your lump-sum payment for unused annual leave will be taxable in the…
Q: I have been on disability for several years but my husband worked, so we were told I could still be covered by his insurance. After his retirement, we were told we had to take Medicare Part B. The problem is that I am being penalized by Social Security for not taking it sooner. I was also being covered under my OPM with the VA retirement. I called Medicare and Social Security. Medicare told me that I should not be penalized because of the coverage of OPM. I called Social Security back and they told me that Medicare didn’t know…
Q: I am a FERS employee. I will have 22 years and seven months in January 2011 and also I will be 55 in that month. If I retire at the age of 56, do I qualify to get into the special retirement system? A: Without knowing your year of birth, I’m going to have to assume that you were born before 1948 and will reach your minimum retirement age when you are 55. Is so, with your age and years of service, you would only be able to retire under the MRA+10 provision (minimum retirement age and at least…
Q: I am a USPS/FERS employee. Will I get credit for months and days in excess of a complete year, or are the computations done by rounding down or up to the nearest whole year? I retire Jan. 1, 2011. My total time is 30 years, three months and 17 days. A: Annuity computations are based on whole years and months. Any left-over days are combined with unused sick leave to create additional months. Any days in excess of a month are dropped.
Q: I’m 55 years old. My health required me to retire after working 24 years for the DoD at FRC-E. I worked under the CSRS due to my employer’s mistake, which was discovered on my retirement. FRC-E paid all required SSI funds to make me current as a CSRS Offset employee, and I have been approved by SSI for Medicare. I was told I would receive half of my retirement payment from DoD and the other half from SSI. I get the DoD’s portion but cannot convince SSI to pay anything. What can I do to correct this problem, or…