Q. I am 54 years old,and have 34 years’ service. I don’t want the early-out my agency is offering. However, since my agency is offering buyouts, can I get the buyout at only 54 years old? A If a buyout is offered, you can accept it at any age. However, unless you meet the age and service requirements to retire, you’d have to take the money and apply for a deferred retirement at age 62. You could only retire if your agency coupled the buyout with an offer of early retirement.
Monthly Archives: August, 2011
Q. I am 66 years old and will be retiring from federal service (CSRS) at the end of this year. I have four years military time, however, that I have not paid back. I do not have 40 quarters of Social Security. My wife is currently on Social Security from her own earnings. Do I need to be concerned about paying back my military time (Catch 62) because of my wife’s earning? A. Because you are over age 62 and won’t be eligible for a Social Security benefit when you retire, the fact that you didn’t make a deposit for…
Q. I served in the civil service from January 1977 to September 1997 (20½ years, plus seven months unused sick leave). I was in the CSRS and left my money in the CSRS when I resigned from federal service. I was earning about $81,000 as a GS14-09 (with the DC locality adjustment) when I resigned in ’97 and, by my calculations, I am entitled to receive a pension of about 38 percent of that, or roughly $28,000, when I turn 62 in three years. I also have paid into Social Security every quarter since fall 1997 and am entitled to…
Q. I served in the Air Force for six years active and have been a member of the Air National Guard since 2009. I recently became employed by the federal government and plan to buy back that military time. My question: Once I buy back my active time, can that specific time only be used once (for the fed retirement) or can it be applied to both my federal retirement and ANG retirement? I’m wondering if once those six years of active are applied to my federal service, will they not be eligible towards my ANG time? A. Making a…
Q. As a federal firefighter (GS-0081) retiring under FERS at the mandatory age of 57, can I continue working past 57 as a firefighter in a secondary position (fire chief)? I am being told that I mandatorily must retire at 57 even though I am in a secondary position as fire chief. If not, could you provide the regulation? A. What you were told is correct. The requirement that a firefighter be mandatorily retired at age 57 is found in www.opm.gov/retire/pubs/handbook/C046.pdf, scroll down to Section 46A3.3-2 and Section 46B3.3-2.
Q. I have three periods of military service for which I am required to pay a deposit under “Catch 62.” The first period, 1969 to 1972, I paid for when it came due in 1986. This bought me a period of about 2.6 years. Later I was mobilized for Desert Shield/Desert Storm in 1990 to 1991; and Bosnia in 1997; for an additional eight and seven months, respectively. I plan to work off the additional time by delaying my retirement for 15 months or more. When I discussed this plan with our HR office (SSA HQ) I was told that…
Q. I have been retired military (26 years) for two years. I just become a civil servant last week. What are the “limited circumstance” that you refer to below? (excerpt from a recent email exchange). What should I do to find out if buying back my military time would be advantageous? “… if you want to get credit in your civilian annuity for the time you spent in the military, you’d usually have to make a deposit to the civilian retirement system and waive your military retired pay. There are only limited circumstances under which you can both get credit…
Q. I am a CSRS federal employee. I have use-or-lose annual leave. I would like to take annual leave instead of sick leave for an upcoming surgery that will keep me out of work for two weeks. That way I can also save my sick leave toward my retirement (I am 54 years old, but do not plan on retiring for four more years). So, can I use my annual leave in place of sick in this situation? A. Yes, you can. Just let your supervisor know about the upcoming surgery and your preference to use annual leave instead of…
Q. If I retire at 60 with 20 years of service, and receive the supplemental annuity until age 62, am I then obligated to receive my Social Security benefits at 62 or can I pick up filing for benefits when I reach age 66? A. The special annuity supplement ends at age 62. When you apply for a Social Security benefit is up to you.
Q. I am 52 My plan is to retire at 56 (MRA). I will have 15 years of government service. I am retired from military service with 20 years and nine months of time. My plan is to combine my military and FERS time for approximately 36 years of service. My question is this: I am covered now under Tricare. Would I keep this benefit if I combine my FERS with military service? Or would I have to sign up for FEHB? I have been told that my Tricare counts as being signed up for FEHB but I would lose…