Q: I plan to retire at the end of December, 2011. I will have 44 years of continuous federal service under CSRS. I have 1,300 hours of accrued sick leave. Will my sick leave in any way increase my monthly annuity? If yes, at what rate? A: Let’s start at the beginning. Because you have more than 41 years and 11 months of creditable service, your earned annuity will be capped at 80 percent of your High-3. Any additional contributions you have made to the retirement fund will be refunded to you with the option of purchasing additional annuity that…
Monthly Archives: April, 2011
Q: A former supervisor recently told me that my time as a tribal employee before being hired by the Bureau of Indian Affairs is creditable service under Public Law 93-638 Self Governance Act. I was hired by a federal employee in 1979 into a federal organization (BIA) but as a tribal employee. I was paid according to the GS payscale. It was a federal forestry organization with a few tribal employees. In 1992, I transferred to the BIA, with no break in service, to the same pay band, performing the same duties, with the same supervisor. Everything remained the same…
Q: I am a federal employee who bought back three years of active duty many years ago. During my federal service I have been receiving VA disability for a service-connected injury that happened on active duty but did not happen during a period of war or by an instrument of war. Will my FERS retirement annuity be affected in any way by my “non-war time” service connected VA disability? A: No, it won’t.
Q: I am 65 with a birthday in July. I plan on retiring next year (FERS), and am considering submitting for my Social Security benefits back to my 66th birthday, in December 2011. I believe that means I will collect my four months of previously earned checks next year, thereby pushing my tax liability for that money into 2012. Am I misreading the Social Security website (it says six months max back payment), or is this possible? A: What you read on the Social Security Administration website is correct. However, while you are reviewing the tax implications of applying for…
Q: I am 68 and still work as a CSRS Offset civilian. I have about 17 years of government service, 10 years as CSRS and seven years as CSRS Offset. I also have more than 30 years of substantial Social Security earnings outside of the CSRS Offset. I am single and all of my earnings for retirement and Social Security are mine. I am pretty sure I won’t fall into the Windfall Elimination Provision category but cannot determine how much the Offset will apply. My Offset income is substantially higher now than it was when I left the government in…
Q: I have 20 years in the 0081 special retirement program. With the military buy-back, I have 30 years of creditable federal service. If I accept a position as a fire program administrator for the next five years, at the age of 62, will I be able to retire under the special retirement firefighter program? A: Any employee who has 20 years of covered service as a law enforcement officer or firefighter and is at east 50 years old may retire at any time and have that portion of his annuity calculated using the more generous formula. Any service over…
Q: My wife and I work for the postal service and are covered under FERS. I carried the health insurance policy, because under federal law husband and wife cannot purchase single coverage. I’m going to reach retirement first and she’s going to retire four years after me. She will pick up the health insurance to save us money, but she’s not going to reach the five-year limit required by law. Should we have her pick up the insurance before her five years are up? My retirement is set for November 2013, and hers is set for March 2017. What happens…
Q: I retired from federal service 20 years ago. At that time the decision was made to receive the basic life insurance coverage and no survivor’s benefits. Have the laws changed in regard to benefits after retirement? Is it possible to sign up for additional life insurance or survivor’s benefits? I had a medical disability and receive a monthly check for income protection. A: No, the laws haven’t changed. You’re stuck with the decision you made when you retired.
Q: I retired at 55 with 30 years of service from CSRS. I did not pay into Social Security. My husband turned 65 and was told he was at full retirement age and receives Social Security. Can I draw Social Security benefits when I turn 65 or 66 off of him? Would it be decreased based on my retirement at age 65 or 66? A: Your age has nothing to do with it. Because you are receiving an annuity from CSRS, a retirement system where you didn’t pay Social Security taxes, you’ll be subject to the government pension offset provision…
Q: I am a 30-year Defense Department employee under CSRS who will become eligible for regular voluntary retirement on Jan. 4, 2012. There is buzz around my organization that there will be a VERA/VSIP with retirement dates being offered in September and December of 2011, but no real details yet. Would it be considered a VERA or a VSIP if the designated date for December retirees ended up being in the same pay period in which I become eligible (for example, Jan. 1-14, 2012) if the designated retirement date occurred before Jan. 4, 2012? Would this affect any incentive money…