Q. I worked for the Army Corps of Engineers for the summers of 1973 through 1978. I remember someone telling me that each summer would count as a full year if I went ahead and became a federal employee. Is there any truth in that? A. None whatsoever.
Monthly Archives: April, 2011
Q. I am 49 years old with 22 years of federal service. I am in FERS. Is there any situation whereby I can voluntarily retire at 50, keep my health benefits (me plus spouse) for life and receive an immediate annuity next year? Side notes: My MRA is 57 and I have had health insurance (Blue Cross Blue Shield family for 15 years). Am I looking at a 5 percent a year reduction (to 57 or 62)? Would the supplemental annuity (at age 57) go away? Finally, how would a VERA (or something similar) change my situation and are we…
Q. I am a FERS employee with 27 years of service, age 66. I would like to retire the end of May. Would the best date to retire be May 30 or June 1? A. If you retire at the end of May, you will be on the annuity roll in June. If you retire on June 1, you won’t be on the annuity roll until July 1.
With downsizing a likely step as the government adjusts to budget realities, questions have been pouring in about how agencies will handle staff reductions. Outside of relying on attrition, agencies have two options to get their numbers down while softening the blow for employees: the Voluntary Early Retirement Authority (VERA) and the Voluntary Separation Incentive Program (VSIP). Under VERA, an agency can offer employees an opportunity to retire early. The Office of Personnel Management designates the specific geographic area and occupations where the VERA applies. It also stipulates the time during which the “early outs” will be offered. If needed…
Q. Once you submit your retirement paperwork, then you change your mind, can you pull it back at any time prior to your retirement date? Also, why doesn’t OPM send you a notice that your owe CSRS Redeposit? I left the federal government some 30 years ago and pulled out my CSRS retirement. When I came back in, I was told that I only had to pay that back if I went back into the CSRS system. As with most people, I probably didn’t pay too much attention to the paperwork I was signing (if I did at all) stating the…
Q. I would like to retire in July 2013. I had 17 years, eight months in CSRS, then a break in service of 34 months. I was rehired under FERS (not the CSRS offset) and by the time I retire I’ll have 12 years, nine months in FERS (and will be 62 1/3 years old). I am a WG-11 step 5 and don’t expect to be promoted before I retire. Is there anything I should be aware of or cautious about, given this (from what I’m told is) unusual setup of both CSRS and FERS? A. Because you left your…
Q. I am 58 years old with 35 years’ service and I am eligible for optional civil service retirement. After I retire, can I apply for Social Security disability benefits ? I have had some serious health conditions and my CSRS annuity will not be enough for us to live on. I have credit for 64 Social Security quarters from other jobs I have had. A. Yes, you could apply for Social Security disability benefits; however, the criteria for Social Security disability benefits are much higher than those for retirement under CSRS or FERS. To be approved for them, you would…
Q. In order to qualify for “Advance Annual Leave,” “Advance Sick Leave” and/or the “Voluntary Leave Transfer Program,” do you have to exhaust all of annual leave, sick leave and “BRAC” leave? Or is BRAC leave excluded? A. I can think of no reason why BRAC leave would be excluded. However, your agency would be in a better position to know than I am.
Q. I will soon be working 51 years and will be thinking of retirement. I do not want any additional annuity, I just want to collect my excess money with the 3 percent interest. Please tell me how I go about this. A. You won’t have to do a thing. When your retirement application is processed by OPM officials, they will send you a letter telling you how to get a refund of your excess deductions.