Q. If I was RIFed (Reduction in Force) 1 year and 7 months ago, and was eligible for discontinued service retirement, but chose not to retire at that time, can I now retire? A. No, you can’t.
Monthly Archives: March, 2011
Q. I have been a VA employee for 22 years on a part-time basis with a work schedule of 7 a.m. to noon on Monday mornings throughout my career. My position as an assistant in surgery is being eliminated and I have been offered the opportunity to work in a clinic instead. The problem is that they want to change my work schedule to 8 a.m. to 1 p.m. on Mondays. I know that doesn’t sound like much, but both the starting time and ending time will negatively affect my other job, which is my primary source of income. Despite…
Q. Is there any legislation currently being considered in Congress that would change the computation of CSRS retirement annuities from the current high-3 years average to high-5? A. No there isn’t.
Q. What is the present value factor number for a CSRS employee age 62? And what is the formula to figure out the value factor number? A. The present value factor for a 62-year old covered by CSRS is 193.2. These factors are developed by the Board of Actuaries of the Civil Service Retirement System. You can see all the factors by going to www.opm.gov/fedregis/html/jun10.asp, scrolling down to June 21, and clicking on the headings for CSRS or FERS.
Q. I am a retired governent employee receiving a pension. My husband was killed in a car accident in January of this year. My widows benefits from him under Social Security is being offset and I plan to appeal. Are there any cases where exceptions have been made? A. No there aren’t. The law is fixed and doesn’t allow for any exceptions.
Q. Will the 2 percent reduction in employee Social Security tax for 2011 and 2012 reduce the benefit that the employee will receive when he applies for a Social Security benefit? A. No. Social Security benefits aren’t based on the amount you contribute through taxes. They are based on the number of Social Security credits you have earned, your average indexed monthly earnings (AIME), and the age at which you apply for benefits.
Q. Where can I obtain any information about becoming a rehired annuitant? I am still employed and have questions regarding how use-or-lose leave, health insurance, and other benefits are handled if I choose this route. A. OPM has a helpful site that will provide answers to many of your questions. Go to www.opm.gov/retire/life/reemployment.asp.
Q. I am 60 years old and will have 25 years in September and will be 61 years old in that month. I am under FERS. I realize I have to be 62 in order to qualify for 1.1 percent of high 3, but what if a VERA is offered this year in Sept. If that VERA included adding years, would my retirement be calculated at the 1 percent or the 1.1 percent? Or does it have to offer years and age to qualify for 1.1 percent? A. There is no provision in law that would allow years to be…
Q. I am a dual status ART/lieutenant colonel navigator in the Air Force Reserve with 23 years (I am 54 years old) of federal service as an ART. If I am medically disqualified from flying on the military side, thereby losing my eligibility for the civilian ART job, would I qualify for disability retirement or medical retirement? Would I expect an immediate annuity? A. If you are separated from employment as a National Guard technician because of a disability that disqualifies you from membership in the National Guard or from holding the military grade required for such employment, you would…
Q. How do I compute the amount of use-or-lose sick leave when I retire? I understand that I will lose all sick leave that is less than a whole month. The retirement office at work says I cannot compute this. The retirement program needs to do this because it is complicated. The retirement office has run several estimates. Each estimate is different. The differences are sometimes more than 100 hours for the same retirement date. For planning purposes, I would like to get a good estimate of the amount of use or lose sick leave. I don’t want to lose over a hundred hours. A.…