Q: I worked part time for the Navy Exchange as a stock clerk from 1969 to 1971 while I was a student in high school. I joined federal service in 1981 where I am still employed under the CSRS system. Does the time I worked for the exchange count toward my federal service time? A: No.
Monthly Archives: May, 2011
Q: I am CSRS Offset, 52 with more than 27 years of service. Because my agency has yet to offer a VERA, I am considering resigning and “freezing” my retirement until age 55. Is this legal, and if so, how would it impact my annuity? A: While you could “freeze” the amount of your annuity by resigning, you wouldn’t be eligible for a deferred annuity until age 62. At that time, your annuity would be calculated using your years and full months of service and high-3 on the day you left. Any unused sick leave you had when you left…
Q: I am retired from the postal service and I am under CSRS. My ex-wife receives almost half of my pension due to a court order. If I remarry, I know that I have to report that to OPM so my new wife can be under my survivor annuity. Do I have to let them know right away after I marry, and what is that two-year waiting period that I read about? Also, will money be taken out for both my ex-wife and my new wife? Please advise because I would like for my new wife to be able to…
Q: Since I’ve been buying back my 20 years of military service toward a FERS retirement, would I qualify for the MRA (56.5 years old) and would at least 10 years of federal service actually equal 30 years of total service for calculations on the SRS? Or would the system only use the 10 years of federal service and MRA, which according to your column would disqualify me for SRS? A: Only actual civilian service is used when calculating the special retirement supplement. Therefore, if you retired at your MRA with at least 30 years of service (actual service and…
Q: I have eight years prior federal service (1980-1988). Upon resignation, I received a lump-sum payout for my CSRS account. Subsequently, I worked for 20 years in the private sector until I was laid off in 2009. Reinstatement eligible, I was hired in November as a “Term” employee, classified as “CSRS Offset.” However, I was informed recently that the classification was incorrect, and is being changed to “FICA with option for FERS.” Is this correct? A: It sounds like you were hired into what is called a temporary time-limited position. If that’s the case, then you would contribute to Social…
Q: I’m a CSRS employee who is thinking of taking an early out if offered. My age will be 54 years and 2 months, so I will have a penalty. I was told the penalty goes away once I reach 55. Is that true? A: No, it isn’t true. The reduction in your annuity for being under age 55 would be permanent.
Q: I am a recent CSRS retiree with more than 42 years of service. If the debt ceiling is not increased in a timely manner, will that impact my annuity? If so, how would that be recalculated? Will it ever be repaid? A: The money used to pay your annuity is in the Civil Service Retirement and Disability Fund and would not be affected by a failure to raise the debt ceiling. However, if the ceiling is not raised, the Treasury Department could borrow money from the fund so the government could continue to run. When things settle down, that…
Q: I am a CSRS dentist with more than 36 years of government service and I am about to retire. I have 80 days (not hours) of annual leave for which I should receive a lump-sum payment upon retirement from my local VA medical center, minus income tax and other deductions. My local payroll office tells me that although they will use my base and market pay to determine my annual salary, that salary will be divided by 364 days (instead of 261 days) to determine my daily and hourly rate. This doesn’t seem correct, as my ability to earn…
Q: I am 57 with more than 30 years of CSRS service. My husband is 60 and retired from the military in 1997 with 27 years of service. He soon will have 14 years with FERS. We plan on retiring in September. I know I’ll be affected by the “windfall” and “offset” because of Social Security that we’ve both paid, his while in the military and mine prior to my federal service. If my spouse dies before me, will I receive the full military survivor benefit ($500) that he designated from his military retirement or will it be reduced or…
Q: I’m 39 with 18 years of military service (6 active, 12 reserve). I’ve been working for the government as a GS employee under the FERS plan for 12 years. I’ve read and heard the benefits associated with buying back my active-duty military time, but I am confused as to whether it will cause me to have to remain in the reserves longer to make up for the active time I’m buying back. My initial plan was to have two retirement checks, one from my federal service and the other from my military service that I would collect at age…