Q: I was a U.S. Postal Service employee who retired under CSRS disability at age 47 in 2007 because of stress. I had 25 years of service upon retirement. Will my disability pension be recomputed when I turn age 62 or 65? (I have read where you mention FERS employees pension is.) If so, what is the formula? A: No. While FERS disability annuities are recomputed at age 62, CSRS annuities aren’t.
Monthly Archives: May, 2011
Q: I am a reservist with roughly 12 years of active-duty time. I am transitioning to GS and don’t understand the military buyback program. My biggest concern is regarding what happens to my Air Force retirement if I buy back my time. My plan would be to retire from the Reserve a few years down the road while still being a GS. Would I be able to have two separate retirements? I was under the impression that you can only have two federal retirements if you were previously retired from the military, then began civil service. I want to stay…
Q: I had two temporary promotions, 120 days each with pay, during the past three years. Would these be factored into my high-3 calculation? A: Yes.
Q: I recently received an early retirement survey. I filled it out and said I would accept it. Some of my co-workers also said they would accept it. But everyone I talked to said they really wouldn’t take it. One guy said his wife wouldn’t let him. One said, “I just said yes so it would help others get it.” One said yes to the survey, but he really couldn’t leave this early as he is only 49 years old. How will this affect the offer? They should know that everyone that said yes will not do it, right? A:…
Q: When calculating your FERS annuity as a GS employee, do you use the base schedule or is locality pay included? A: Locality pay is included when computing a high-3.
Q: I am a 20-year retired Army veteran. I receive a CRDP disability of 60 percent in addition to my retired pay. I work for Veterans Affairs and I have worked there since Dec. 26, 2007. I received creditable service for some of my assignments which took me to six hours per pay period accrual. I think I read somewhere that if you have a disability rating of a certain type you can receive creditable service toward leave accrual. Can I? A: No leave accrual credit is given for a disability rating of any kind.
Q: I am under CSRS and will be eligible to retire in June 2014. What would be the best date to retire after that date to get the maximum payment on annual leave? A: The 2014 leave year ends Jan. 10, 2015. As long as you retire at the end of a pay period before Jan. 11, 2015, when the new leave year begins, you will get a lump-sum payment for all your accumulated leave.
Q: My husband has carried family federal Blue Cross/Blue Shield health insurance, low option 105, for many years, and we have been satisfied with that coverage. Now that we are age 65 and are keeping our insurance and signing up for Medicare Part A because it is free, is there any reason to also purchase Medicare Part B? It seems to me that it would just be paying for double coverage that we already have. Do we also need Medicare Part B? A: Only you can determine if it’s worth it to also pay for Medicare Part B. You’ll have…
Q: I am a FERS retiree and my retirement date is Dec. 31, 2009. Because I am under 62, I receive the FERS annuity supplement. I received my final paycheck in January 2010 and also a payment for my unused annual leave. My 2010 W-2 shows a payment of $17,216.36 for these two items. Is the payment for the unused annual leave applicable to the earnings test for the supplement? A: No, it isn’t. Nor is the amount of money in your final pay check. To better understand the “first year rule” on earnings, go to www.socialsecurity.gov/pubs/10069.html.
Q: I recently read your answer to a federal retiree asking why her Medicare Part B deduction increased while her husband’s, a Social Security retiree, did not. Your response was that since Social Security retireees’ cost-of-living adjustment was zero, that was the reason his Medicare deduction did not increase. As a federal retiree, my cost-of-living adjustment for the last two years was zero also, however my Medicare deduction did increase. Can you tell my why? A: I have to assume that you aren’t receiving a Social Security benefit. Otherwise you wouldn’t have had any increase in your Medicare Part deduction.…