Monthly Archives: January, 2011

Q: I retired from the federal government on 12/31/2010 (at age 74) under the CSRS annuity plan. For many years, I also received Social Security benefits. I know there is an “offset” provision and my SS benefit will be reduced substantially. My question is: Will OPM notify SSA of my retirement automatically? Or do I have to tell SSA of my retirement? A: You don’t have to do anything. OPM and the Social Security Administration routinely do computer matches to identify retirees whose work histories require that their Social Security benefits be reduced.

Q: I had eight years of active duty after being honorably discharged from the Army in 2001. In 2008, I got a federal government job. I began to buy back my military time. I am leaving the federal government after years, but before I finish buying my time back. What are my options for the money? I do plan on coming back to the government some day. Can I just leave the money in there or will it be automatically refunded? Can I continue to contribute to it even though I am no longer a federal employee? A: When you…

Q: I have spent 11 years on active duty and I immediately went to work for the federal government under the Federal Employees Retirement System. At this time I have a total of 32 years (22 years federal services and 10 years active duty). If I buy back my military time, may I retire at age 57 without any penalty? If not, what is my earliest retirement age without penalties under FERS? A: Yes, if you make a deposit for your years of active duty service, you’ll be able to retire at age 57. And there won’t be any penalties.

Q: I have 31 years of credible federal service and am 51 years of age. I would like to take an early retirement. I have been told I can take a “deferred retirement” until 2010 (56 years of age) without penalty. However, I cannot locate any formal OPM documents that clearly state this is accurate. Your thoughts would be greatly appreciated. A: The information you are looking for will be found at www.opm.gov/retire/pubs/handbook/C045.pdf. Assuming that you are covered by FERS, you would be able to receive a deferred retirement at your minimum retirement age. If you are covered by CSRS, you wouldn’t be eligible…

Q: I know that the FEHB rules changed regarding coverage of dependents up to the age of 26, but what about the FEDVIP rules (vision and dental)? A: As specified in law, the change in age applied only to the Federal Employees Health Benefits program.

Q: I am currently receiving military retirement pay for service with the U.S. Navy from 1960 to 1980. I began drawing my full Social Security pay at 65 years and 10 months. I began working under CSRS in 1980 and am planning on retiring in 2013 or 2014. My question: Since all of my time for my Social Security was from my military service and not CSRS service, will I be under either the GPO or WEP provisions when I do retire from CSRS? Can I receive all three of my retirements without any penalties of GPO or WEP? A:…

Q: Is there a time limit on when you have to hold that salary rate for it to be counted for a good year? Here is an example: If I get awarded a QSI (quality step increase) in the month of October and hold that rate for three months before my next step goes into affect in January, will that rate I received in October for three months be counted as a good high-3 figure? A: Your question is based on a false premise. A high-3 is calculated by adding up the base salary you received for each pay period…

Q: I am a 57-year-old FERS annuitant who retired in 2010 with 33 years of service. I am considering going back to work part-time for my former agency (Dept of Energy) in a position that will allow me to receive both my annuity and the full salary of the new position. In addition to my FERS annuity, I am also receiving a special annuity supplement of about $12,000 per year. Normally, if I become employed and earn a salary I will lose $1 of the special annuity supplement for every $2 I earn over the IRS limit of about $14,100 per…

Q: I’m retired from the Army and my wife has the age and years to retire if her office offers early retirement. Can you tell me if there is any chance if the Department of Labor might offer early retirement in 2012? A: No, I can’t. Even a fortune teller would shy away from answering that question.

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