Q: I’m a FERS employee with a hire date of Jan. 19, 1999. I plan on retiring the day after my 60th birthday in 2015 under MRA+10 with 16 years of service. Will I have to take the 10 percent penalty for being two years under 62, or does being age 60 somehow eliminate it? A: Yes, the 5 percent-per-year penalty will apply for every year (5/12 percent per month) that you are under age 62. If you had 20 years of service and retired at age 60, the penalty would not apply.
Monthly Archives: July, 2011
Q: I’m a CSRS employee. Is there a time limit after I retire from my civilian job to buy back my military time and get annuity credit for it? A: To get credit for any period of active duty military service in your annuity computation, you must complete the deposit before the final adjudication of your annuity by OPM.
Q: Can you earn two federal retirements such as a military and a civil service? A: Yes. Each will be based on its own period of service and computed under its own rules.
Q: I will have approximately 372 hours of annual leave on the books prior to my retirement date Oct. 31. Can I take all of my leave at once prior to my retirement date, or do I have to accept a lump-sum payment? A: The civilian federal government doesn’t provide for terminal leave. Therefore, you can only use your annual leave in that manner if it is appoved by your supervisor.
Q: I work at Kirtland AFB, N.M. A VERA/VSIP survey was sent out in May 2011 with a suspense date of May 21 to show interest. I completed the survey and received confirmation that it was received. The VERA/VSIP is scheduled for FY 2011/2012. It’s been over a month and I haven’t heard anything. Does your office know any status? A: We haven’t heard a thing.
Q: With the impending increase to our FERS contributions, can anyone opt out of FERS? A: There isn’t any impending increase in FERS contributions, only proposals. Whether anyone would be able to opt out if such a change were made would depend on the wording in the law. However, such a provision would be highly unlikely.
Q: I am about to retire from the NAtional Labor Relations Board. My Agency has asked if I would perform hearings and other tasks that could not be accomplished by any local person due to specialized qualifications and experience. Is there a procedure for me to collect my full annuity and get paid by an hourly rate with no offsets or reductions? A: Your agency would have one of two avenues to pursue if it wants to bring you back onboard and waive the normal offset to your annuity. They could ask OPM to approve your appointment based on an…
Q: I am 48 with 18 years of government service in Veterans Affairs and the U.S. Postal Service. I am on a two-week leave of absence due to stress and would like to resign without filing action so that I may find other government employment. I have never been in negative leave status and have successful evaluations. What is the longest unpaid absence I can take so that I may try another type of employment while on unpaid leave status? A: If you didn’t report to work, you’d be considered to be absent without leave. If you didn’t report to…
Q: I read that the best day to retire for CSRS at the end of the leave year in 2013 is Dec. 28, which confuses me since we’re always told to retire at the end of the month or first three days of the month. I know Dec. 28 is the end of a pay period, but wouldn’t it work out just as well if I retired on Jan. 2 or 3 since I’d get paid for the New Year holiday? A: You can retire on any day that suits you. However, keep these facts in mind. First, if you…
Q: I am getting ready to retire. I worked for the government from 1968 to 1972. I left the government and worked in the private sector and earned my 40 quarters working in the private sector and made my substantial earnings for Social Security from the private sector. I returned to work for the federal government in 1984,and was in CSRS Offset. I was told that since I earned by 40 quarters from the private sector, my government annuity will NOT be reduced. and I will get a full government annuity and a full Social Security check. Is that right?…