Q: I just submitted a request for a retirement estimate. I was confused about the reductions section in life insurance. The three selections were 75 percent, 50 percent or no reduction at all. What do the reductions mean? In my estimate request, I selected no reduction with Basic and Option B (times 1). What would be the difference, if I did select a 75 percent or 50 percent reduction? A: In simple terms, the smaller the reduction in the face value of the coverage you elect, the higher your premiums will be. For example, if you elect the 75 percent…
Monthly Archives: February, 2011
Q: I am a CSRS retiree. My husband is a public school teacher retiree from Missouri. I know I cannot draw from his Social Security benefits under any circumstance or he from mine, but will I be able to draw from his school retirement if he should die before me? Or will he be able to draw from my civil service if I should die first? He is on my health benefit and would need that if I should die first. We have both made allotments to each other and no one mentioned this when we were preparing retirement papers.…
Q: I am a GS-1811 law enforcement officer covered under the early retirement provisions under the Federal Employees Retirement System. I have 10 years of federal service in a covered position (1811). I am contemplating on switching my job to other federal agencies. One position is not covered under the early retirement provisions. If I take the job and retire at my MRA, will I be eligible to receive 1.7 percent per year for last 10 years I worked as GS-1811 although I would not completed required 20 years under the provision? I have contributed additional 0.5 percent to the…
Q: I retired on disability in June of 2009, with 60 percent service connected disability. Since then I have kept BCBS and Tricare. I have just been notified that I am on Medicare part A, and unless I opt out, will be on Medicare part B also. I have three dependents on my BCBS and Tricare, ages 20 to 22. Should I, as seems best, turn down the part B coverage? Does that invalidate Tricare, as the booklet seems to say? With BCBS and Tricare, I pay nothing for co-pay, and little for prescriptions. What are my options? It seems…
Q: I’ve been a federal employee for 4.5 years. I’m thinking of leaving the federal services.My coworker told me that I should wait until I have five years of services before quitting. Are there additional benefits for staying with the federal agency for five years before going to a private company? A: If you didn’t have five years of creditable service under FERS when you left government, you wouldn’t be vested in the retirement system. If you did have five years and didn’t take a refund of your retirement contributions, you’d be eligible for a deferred annuity at age 62.
Q: I am under FERS. I have 30 years of service and am 50 years old. My MRA is 56. I plan on leaving federal employment to work in private sector. Can I be re-employed at age 55 and still retire at age 56? Is there any minimum time limit I must work when re-employed before I retire, i.e. if rehired at age 55 and 10 months could I retire in two months? Also, could I be re-hired after age 56 if I had not applied for retirement benefits yet? My main concern to get re-employed is to be eligible…
Q: I am retired under federal disability retirement from the postal service. I understand you are medically re-evaluated every year or two. At what age does this stop? Also, what if it is determined that you are no longer disabled? Are you returned to your previous position? I understand you cannot make too much money. If you do, will you lose disability and be returned to your prior position as well? A: Until you reach age 60 OPM has the right to ask you to provide medical information or undergo medical examination to determine if you have recovered from the…
Q: I read the Federal Times article in the Jan. 10, 2011, edition and have a question about redeposits. I was a federal employee from April 1990 to October 1992 (2.5 years). I returned to federal service in October 2002 and have been a federal employee since that time (slightly more than eight years). My service computation date on my Earnings and Leave Statement is April 20, 2000. I am a FERS, general schedule employee. My question is how do I know if I need to make redeposit contributions? I understand that if I withdrew my retirement contributions then I…
Q: I retired under FERS after changing from CSRS to FERS. I retired Feb. 29, 1988. Now I am being told by Social Security that I am not eligible to receive Social Security payments on my deceased former husband because I am receiving a retirement from the government. Please tell me how I can tell the Social Security Administration that I am entitled to benefits. They are requesting that I sign a form to return my request for the Social Security benefits. A: Because you have a CSRS component in your annuity, you are subject to the government pension offset…
Q: When Brooks Air Force Base is closed by BRAC on July 29, I will have 29 years and four months of government service. My job has been moved to Wright-Patterson Air Force Base, Ohio, (TOW, although they call it non-TOF). I would like to retire through DSR but understand I must register in PPP and only if a suitable job is not found will I be eligible to retire under DSR but I must come out of retirement if a job is found. Is there a waiver process I might apply for which would request a no penalty (under…