Q: In 1977, I worked for the National Park Service for three months during college summer break. Then in 1991, I started working for the federal government and I am still here. In 1991, they put me in FERS and added three months to my SCD for the college time. Can I now tell them that, since I really started working in 1977, I should be in CSRS, and they should switch me to that system? A: Sure, you can tell them that. But you better stand back because they are going to fall on the floor laughing. Here’s why.…
Monthly Archives: May, 2011
Q: If one retires under FERS MRA+10, but postpones (not “defers”) taking the annuity, is half of the sick leave now creditable to time in service? I have determined that it is creditable for immediate annuities, but not for deferred annuities. I can find nothing pertaining to postponed annuities. Example: I plan to retire at age 59 with more than 28 years of service. I plan to postpone my annuity until I am 60 (November 2012) to avoid the age penalty. Will half of my sick leave be used to compute my service time? A: If you retire under on…
Q: I need an address to find out what my life insurance amount is. I retired in 2006 and do not know how much life insurance I have. I have a toll-free number to call, but it is always busy, and the other number I was given has you waiting as much as 30 minutes. A: You can send a FAX to OFEGLI at 315-792-6603 or 312-792-6802 or write them at OFEGLI. P.O. Box 6512, Utica, NY 13504-6512. You can also send an overnight delivery letter (such as by FedEx) to OFEGLI, 5950 Airport Road, Oriskany, NY 13424-3926.
Q: During the late 1960s, I worked part-time as an intermittent for a federal agency while in college. After graduation, I have worked as a full-time federal employee and under CSRS with only one break in service for a few years during the early 1970s. My SCD for retirement purposes has in the past been calculated as if the part-time/intermittent work during the late 1960s was full time. Recently, I discovered that about a year ago someone associated with my agency, I don’t know who, recalculated my retirement SCD and reduced the amount of credit I received for the part-time…
Q: I would like to know if my initial employment for the government from Aug. 18, 1983 through March 16, 1990, while I was covered under the CSRS retirement system, will count as creditable service even though I withdrew my retirement when I left the government in March 1990. I was re-employed by the government in May 1992 and opted for FERS coverage at that time. A: You will get credit for that time in determining your total years of service. If you redeposit that refund, plus accrued interest, it will also be used when computing the CSRS component of…
With agencies already taking budget hits and expecting even harder ones to come, employees have been hurriedly doing the math to find out what their annuities would be if they are given either an opportunity to retire early or are shoved out the door by a reduction in force. Figuring out the basic annuity is easy enough. But some employees covered by the Federal Employees Retirement System are scratching their heads trying to calculate a unique feature of FERS: the special retirement supplement (SRS). The SRS approximates the Social Security benefit you earned while covered by FERS. It’s intended to…
Q: I am considering retiring this year while I am 60. I understand I am entitled to the FERS special supplement, and I have been given an estimate of that amount. I am also a widow and could draw Social Security on my husband at this time. What I would like to do is draw the supplement till I am 62, the normal age a person is eligible for SS, and then start drawing on my benefit at the reduced rate until I am full retirement age of 66. At which time I would like to switch to my husband’s…
Q: My Agency has been authorized to offer employees an early out and buyout program this year with the requirement of being off the roles by Oct. 3, 2011. This is three days before I turn 55. However, I meet the years-in-service requirement. What will be the penalty if I take the early out/buyout three days before I turn 55 on Oct. 6.? A: At retirement age and service are counted in years and full months. Because you would be one month shy of your 55th birthday, your annuity would be reduced by roughly 1/6 percent.
Q: I recently returned to federal service after an absence since 2002. Previously, I was in the CSRS retirement system from 1983 to 2002. Recently, they reinstated me under CSRS but now they have switched me into CSRS offset. I am not convinced. Is this correct? A: Yes. Because you had break in service of a year or more, by law you had to be placed in CSRS Offset.
Q: I have been on disability retirement and collecting SSID since 2001. I suffered a spinal cord injury that wasn’t job-related. I have 14 years Leo coverage at 1.7% per year and four years not in a covered position 1.1? What percentage do I get calculating my retirement annuity while I am under disability retirement, 1.1 or 1.7 for the 20 years, to age 57? And what is the rate up to age 62? If somehow I was able to return to work, a miracle as a Leo, would I receive any credit while I was on disability retirement for…