Q: I’ll be 54 years soon and I’m under CSRS with 35 years and six months of service. Can I get out in November of this year taking the 2 percent reduction in my annuity? For me that would be around $1.65 a day for the rest of my life. A: No, you can’t. To be eligible to retire before meeting the standard age and service requirements, your agency would have to offer you an opportunity to retire early. I’LL BE 54 YRS. SOON AND I’M UNDER CSRS WITH 35 YRS. 6 MONTHS, CAN I GET OUT…
Monthly Archives: May, 2011
Q: Is the Voluntary Early Retirement Authority/Voluntary Separation Incentive Program being offered only to Air Force employees at this time and not Defense Logistics Agency employees? A: VERAs and VSIPs are offered by an agency only when they are needed to achieve its staffing goals. Within an agency, they can be focused as narrowly as to a specific unit, occupation or grade level.
Q: I am eligible for retirement under CSRS in October. Civilians at a local base are being polled to see how many would be interested in early retirement. Since they are under another command, we have not had that same opportunity. I kid with my supervisor about it, and he says that even if we were polled and I applied for early retirement, he could prevent it. Is that correct? A: If your agency offered you an opportunity to retire early or receive a buyout, there isn’t anything your supervisor could do to prevent you from accepting the offer.
Q: I came into the federal government in August 1984, which shows up as my service computation date on my SF-50. Although I’m covered by FERS, when I try to do a ballpark estimate of retirement, I get a message saying that I am not under FERS because of my SCD. I am having trouble understanding why I am not considered to be under FERS. Am I really under CSRS? A: I have no idea why the estimator you are using says that you aren’t under FERS. Everyone first hired after Dec. 31, 1983, is covered by FERS. Instead…
Q: I have 14 years 10 months of federal service under CSRS that ended in May 1993. I am returning to federal service later this year. Can I be reinstated under CSRS? Also, my “high three” likely will be based on my earnings from the new employment as it is at a higher level than when I left in 1993. How do I calculate my retirement? A: When you return to work for the government, you’ll be placed in CSRS Offset (CSRS and Social Security) with the option of transferring to FERS. Your annuity will be calculated under the rules…
Q: My husband injured his back in 2007. We have been struggling with his claim. We finally got a letter stating he was approved. The letter says we have to choose the Office of Workers’ Compensation Program or the Office of Personnel Management program. He is FERS and is 59 years old. He is getting retirement until his disability was approved and also is getting Social Security disability. They want us to sign the form indicating which one we choose, but when we call the office, they say they cannot help answer any questions until we sign the form. How…
Q: I’m a Federal Employee Retirement System employee. My temporary time was done with one- year appointments (1984 to 1987), which were extended without a break, for a total of three years. Would that be considered “broken into discrete periods”? Where I could pick just one of those years to buy back? A: That time would be considered creditable service if you make a deposit to the retirement system. However, you would have to make a deposit for the entire period. For those years to be treated as discrete entities, there would have to be a break in service between them. In…
Q: My husband is a retired federal worker and is not eligible for any Social Security benefits since he worked for the federal government his entire career. He opted for a reduced pension because of survivors benefits. I, however, have worked under Social Security. I am weighing my options regarding retirement in the near future. We would be fine if I decided to retire now, but my concern is for the long term. If my husband should predecease me and I receive his federal pension (which would be less then what he receives now) would my Social Security be reduced?…
Q: I have just over 18 years of in service time in a primary fire position. I left that position and went into a 0018 series. If I leave the 0018 series and go back into a 462 secondary position, do I have to start over with my firefighter retirement or will my past creditable time in a firefighter covered position still count toward my firefighter retirement? I am 38 and looking at getting back into a covered position to finish my firefighter retirement service. A: Your past creditable time will count.
Q: I have heard that five years of service is required to be eligible to receive a FERS annuity. I am 61 years old and have been a GS employee for one year. I plan to buy back my four years and seven months of service in the Navy. My question is this: can I retire with an annuity after working two more years (total of three years of active GS service) and get an annuity based on my creditable service of seven years and seven months (military time plus active GS time)? I read on a private website dedicated…