Q: I am a 56-year-old CSRS employee of the Navy. I have 37 years of service and was removed last week for a discipline issue. Am I entitled to a retirement or do they just hand me the $80k in my retirement fund? I applied via SF2801 on the day of the removal. Please let me know since I have MS and need my health insurance badly. A: Because you meet the age and service requirements, you are eligible to retire on an immediate annuity. The fact that you were removed for a disciplinary issue will have no adverse effect…
Monthly Archives: January, 2011
Q: My understanding is that when Social Security was created in 1935 the federal government did not include federal employees as participates in the Social Security system. The decision was based on the fact the federal government already had such a system for its employees (that was more generous). States, cities, counties, etc., were given the option of participating. But if they had an existing system they were not allowed to participate. Thus, a segment of the federal government’s “Civil Service Retirement System” (CSRS) is essentially a Social Security-like segment. Many states now exempt social security from state income tax while fully taxing…
Q: I think I understand the special retirement supplement; I just would like to know how it is applied. Next year I plan on making about $26,000, which is well over the SRS limit. Will I have to pay all my SRS money back at the year or is my SRS just reduced the following year? A: Your special retirement supplement will be suspended until the amount you were overpaid is recovered. That will happen sooner if you are receiving wages than if you are self employed. In the latter case, the overpayment won’t be discovered until you report your…
Q: I have six year to go before my planned retirement and I have two follow-up questions regarding clarification on postponed annuities. I read the explanation describing the differences between deferred and postponed annuities. First I wanted to thank you as I was headed down a path that would have been problematic for me. I need to be able to maintain my Federal Employees Health Benefits while waiting for my annuity to kick in and be able to maintain my FEHB while I am a Federal Annuitant. I am a FERS employee who will be retiring when I am eligible…
Q: I am a retiree under CSRS who cannot get Social Security benefits. My questions are: Are the COLAs for both the federal retirees and the Social Security beneficiaries determined under the same law? If so, why are they not both subject to the “hold harmless provision” in that law? For the past two years there have been no cost-of-living allowances, yet my Medicare Part B premiums have risen both years while those on Social Security benefits haven’t. A: There are two separate laws at work here. While both laws protect retirees from having their benefits reduced when the numbers go…
Q: I am 52 years old and a FERS employee with 31 years of credible federal service. I would like to quit and do something outside of the government. I already have my high threes, 2008, 2009 and 2010. Then sometime after turning minimum retirement age 56 and having 30 years, I plan to return to federal service to resume earning credible service time. My question is how many more year(s) must I work to receive full retirement benefits before I am re-eligible to retire from federal government service? A: Because you are covered by FERS, there is no requirement…
Q: I am a FERS Rural Carrier in New Jersey. I have 13 years in as a full-time carrier. I have a question about using LWOP (leave without pay). Every year I use all of my annual leave, however I have more than 100 sick days unused. I am a healthy person in general, but in 2010, I did have to use three weeks of SL (under FMLA) for the care of my father. However, the question is, I would like to take more time off. If I have coverage of my route and the time I take off does…
Q: I have six years to go before my planned retirement, and I have two follow-up questions regarding clarification on postponed annuities. I read the explanation describing the differences between deferred and postponed annuities. First, I wanted to thank you, as I was headed down a path that would have been problematic for me. I need to be able to maintain my FEHB while waiting for my annuity to kick in and be able to maintain my FEHB while I am a federal annuitant. I am a FERS employee who will be retiring when I am eligible at age 56…
Q: I am a retiree under the CSRS who cannot get Social Security benefits. Are the COLA’s for federal retirees and Social Security benefiiciaries determined under the same law? If so, why are they not both subject to the “hold harmless” provision in that law? For the past two years, there have been no cost-of-living allowances, yet my Medicare Part B premiums have increased both years while those on Social Security benefits haven’t. A: There are two separate laws at work here. While both laws protect retirees from having their benefits reduced when the numbers go negative, only the Social…
Q: I am 52 and a FERS employee with 31 years of credible federal service. I would like to quit and do something outside of the government. I already have my high threes, 2008, 2009 and 2010. Then sometime after turning minimum retirement age at 56 and 30 years, I plan to return to federal service to resume earning credible service time. How many more years must I work to receive full retirement benefits before I am eligible again to retire from government service? A: Because you are covered by FERS, there is no requirement that you be re-employed for…