Q. I took the Postal Service’s Voluntary Early Retirement Authority in July 2009. I am under FERS and had 25 years of service in the post office when I took the VERA. OPM has let us know that in May, I will be getting my annuity supplement based on the VERA. I decided to go back to work full time after a year and a half off work. I will be making about one-third of what I was paid in the post office. How much am I allowed to make before my supplement is reduced or taken away? Since I am starting midyear, are the…
Monthly Archives: April, 2011
Q. My husband passed away after 35 years of federal service under CSRS. I receive a survivor benefit. Due to his breaking his back, he was on workers compensation for approximately 15 years, so he did not retire per se. When he passed away they had to take him off workers compensation and restore him as an employee, so I receive 55 percent of his salary. What I want to know is when I turn 65, will I also be able to receive Social Security? I was not a government employee but paid into it. I have heard that because…
Q. How soon can I return to federal service after taking a buyout of $25,000. I am a federal employee GS-14. A. Five years. If you return before that, you’ll have to repay the amount you received plus accrued interest.
Q. I am a FERS employee who was born in 1955; my spouse (who doesn’t work for the government) was born in 1950. My projected benefit is $1,500 while her is only $350. Does she have to wait until I start collecting at 62 if she wants to receive the higher spousal benefit? A. Yes, she has to wait until you have applied for a Social Security benefit before being eligible to receive a spousal benefit. The spousal benefit depends on the amount of your benefit and her age when she begins collecting it. For more information and a handy…
Q. I am a 58-year old disabled CSRS employee. I need to know the FEHB rates for Blue Cross Blue Shield family plan. Can you help? A. In 2011 the biweekly rate for non-Postal Service employees is $603.18, with the government contributing $403.98 and the employee paying $199.20. FYI. The rates are the same whether you are covered by CSRS or FERS, are able or disabled.
Q. I am currently enrolled in a federal self-only, health care insurance plan. I plan to retire in about three years. I know that in most cases I have to be enrolled for at least five years to continue my coverage into retirement. (I will have been.) Do I need to be enrolled in a plan that covers my spouse for at least five years before retirement in order for her to receive coverage after my retirement? If no, what would the deadline be, if any, for enrolling in a plan that covers her if I want her to have…
Q. I am 56 years old with almost 35 years service. I am thinking about retiring in a few months. Is the federal income tax withheld, (in retirement) the same percentage taken out while working? I’m just working with some figures, so I’ll know how much my monthly check will be. What is the percentage in retirement? A. According to OPM, “Generally, unless you specify a monthly withholding rate or amount, we withhold Federal income tax as if you are married and claiming three allowances. Use Service Online to start, change, or stop the Federal tax withheld from your annuity…
Q. I have not seen this question answered and I know my situation applies to hundreds of employees. I was employed as an air traffic controller for 17.5 years before my branch of Air Traffic (Flight Service) was privatized. Not being eligible for retirement, I was willing but unable to secure another local federal position (air traffic or otherwise), so I went to work for the winning contractor (Lockheed Martin). When Lockheed closed my air traffic facility, I was unemployed. I eventually was rehired by the FAA for a much lower-graded administrative position. For 17.5 years as an air traffic…
Q. I have 34 years under CSRS. I am planning to retire at the end of the year. I am also a retired Army reservist. Can I received credit for my initial active-duty time and annual training time that occurred prior to entering civilian federal service towards my CSRS retirement? A. Probably. However, you’ll need to complete Form RI-90-97, Estimated Earnings During Military Service, and mail it to your branch of service along with a copy of your DD Form(s) 214, Report of Transfer or Discharge, or similar document(s). When you get a reply, take it along with a copy…
Q. I am a current CSRS employee and work for the Department of Energy. The department has recently proposed to reduce federal full-time employees by 30 percent by the end of fiscal 2012. One of the methods being considered is early outs and buyouts, including up to $25,000. Instead of cash buyouts, has any federal agency considered and/or been approved to provide years of service in lieu of cash? If this were allowed by OPM the near-term costs, 2 percent per year, would be minimal and the agency would not have to come up with the budget to cover the…