Q: I am a retired federal employee and I am collecting FERS retirement. My husband retired from the Navy reserves. He took out the survivor benefit plan last year. He will be retired from the federal government in two or three years with 37 years of service in CSRS. Will my military SBP or CSRS annuity be reduced because I have both? A: No.
Monthly Archives: June, 2011
Q: I have eight years of work under FERS and will be 62 in a few years. I have left the civil service and understand that age 62 is the minimum age I can receive a deferred annuity. Is there any increase in the annuity if I wait a year or more after age 62 before filing? A: No. Your annuity will be based on your high-3 and years and full months of service on the day you left government.
Q: I am a FERS transfer eligible to retire in October 2012. I will have 25 years of substantial earnings under Social Security at that time. Can I retire from federal service at that time and seek employment elsewhere to earn enough to count as substantial earnings to avoid the windfall elimination provision? A: If you retire before age 62, the windfall elimination provision will be applied at age 62. Therefore, if you have 30 years of substantial earnings when that happens, you’ll be exempt from the WEP. On the other hand, if you retire at age 62 or later, the WEP…
Q: I am a 53-year-old federal employee/military veteran. I am receiving a CSRS retirement annuity based on a job-related disability. How does one apply for an increase in the annuity based on the severity of the disability? A: CSRS disability retirement annuities are calculated in the same way as they are for regular retirees. Therefore, they cannot be increased or decreased based on the severity of a disability.
Q: I am contemplating retiring under a Voluntary Early Retirement Authority (VERA)/Voluntary Separation Incentive Payment (VSIP) authorization that expires Sep. 30, 2011. I realize I will take a two year, one month penalty. My question is, as a CSRS retiree, if I return to employment outside of the federal government, what is the maximum percentage of earnings I can make without affecting my annuity? A: Whether you get a job in or out of the federal government, there wouldn’t be any limit on the amount of money you can earn after you retire. However, if you returned to work for…
Q: I plan on retiring at the end of the year under the CSRS. My question is: How much notification am I required to give the agency about my retirement plans? A: There are no rules or regulations about how far in advance you need to notify your agency that you’re going to retire. However, you need to give your personnel office enough time to review your retirement application and make sure that everything is in order. Further, you need to let your supervisor know what you are planning so he or she can rearrange work assignments and, if necessary, begin the…
Q: I will retire this year from FERS at age 67 with continuous FERS service from 1987-present. I retired from active military duty 1966-1987 and have received military retirement since (22 years active military followed by 25 years FERS). I do not want to make a deposit and do not want to combine credit into FERS. I can keep them separate and receive both, correct? A: Yes.
Q: I work in the area of law enforcement with the Bureau of Prisons. We have a mandatory requirement to retire at age 57. We are forced out without any rights to stay. My question is: Are we eligible for unemployment compensation benefits because we no longer have a job? Even though we are able to work and it is not our decision to leave. If so, how long are we allowed to claim unemployment benefits? A: While it’s unlikely that you’d qualify for unemployment compensation, such determinations are made by the state in which you reside. Once you have been…
Q: I am curious about Section 9902(h) of Title 5, United States Code. I retired Dec. 31, 2010, but I have since gone back to work part time as a contractor. I would like to go back full time as an annuitant but I am not sure of all the requirements. Can you give me all the criteria? A: The main requirements are simple. First, the position needs to be identified as a hard-to-fill position and be one that is critical to the accomplishment of the organization’s mission. Second, the candidate for the position has to have unique or specialized skills or unusual…
Q: Is a CSRS pension taxed on the initial full calculated pension amount or on the amount after reduction for survivor benefit (I realize there is further reduction of taxable income to account for my contributions throughout the years)? A: It’s based on the reduced amount, not the amount you would have been entitled to if you hadn’t elected a survivor annuity.