Q. I served on active duty from Sept. 30, 1984, through May 15, 1989, and then was hired by the Justice Department where I’m still employed. I bought back my military time and am in the FERS plan. Was I eligible for CSRS given my start date on active duty? A. No. Your starting date in the military was irrelevant. What determines your retirement system coverage is the date of your entry on duty in your civilian position. While making a deposit to get credit for your active-duty service makes that time creditable for retirement purposes, among other things, it…
Monthly Archives: August, 2011
Q. In reference to your response on July 6 regarding retiring under CSRS at the end of a pay period to receive credit for annual and sick leave for the last pay period, I am on a 5/4-9 alternate leave schedule with the second Friday of the pay period as my regular day off. Since I complete 80 hours on the second Thursday of each pay period, would I receive full sick and annual leave credit for the last pay period if I retired at the end of the day on the second Thursday (on May 3, 2012, or May…
Q. I had 13 years of federal civil service with the National Guard. I never withdrew the money I had allotted in FERS. Am I vested? Also, will I get a retirement check at age 60? A. Yes, you are vested. However, because you had at least five years of service but fewer than 20, you won’t be eligible for a deferred annuity until age 62.
Q. I retired from CSRS in 2006 . I am retired from the Navy Reserves. I also draw a 60 percent disability from the Veterans Administration. I also am eligible for Social Security retirement when I turn 62 in September. I had six years of active Navy duty which I paid back to Civil Service. These six years of active duty were also used toward my Navy reserve retirement. I have Survivor Benefit monies taken out of my Navy Reserve and CSRS retirement money. My wife receives a disability retirement from the state of Maryland and she will be eligible…
Q. I’m confused regarding retirement date versus date of final separation Block 2, Section B of SF-3107 FERS Retirement Application. I’m more confused after having read all there was to read on this subject. My official retirement date will be Dec. 31, 2011; what date do I put in Block 2 so that I don’t endup actually retiring on Jan.1, 2012. A. You are making hard work out of this. Put Dec. 31, 2011, on your application and you will be retired at the end of business on that day. In fact, if you had completed a pay period at the…
Q. I’m thinking of retiring in 2012 with 39 years of service under CSRS and I will be 60 years old. If offered a Voluntary Separation Incentive Payment, would I be eligible for the buyout? A. Yes
Q. Is the FERS Law Enforcement annuity indexed for inflation? A. The annuities of special category employees, such as law enforcement officers, are increased by cost-of-living adjustments regardless of the age at which they retire. However, COLAs aren’t added to the special retirement supplement, which is based on the Social Security benefit an employee earned while a FERS employee. Note: No COLAs were paid to anyone in 2010 or 2010. It remains to be seen if one will be paid in 2012.
Q. My agency has offered an early out (Voluntary Early Retirement Authority) but no buyout. Now we are hearing that a buyout is coming early in fiscal 2012. If I am approved for VERA, I will have until my retirement effective date to accept or decline. If a buyout (Voluntary Separation Incentive Payment) was offered prior to my retirement date, could I apply for it without losing my already approved VERA and still retire under the early out if not approved for the buyout? A. As a rule, VERAs are offered to a wider audience that are VSIPs, which are…
Q. I have received a variety of different and confusing responses to this question. I am always sent to websites that are unclear. I am employed full time as a nurse with a Veterans Affairs hospital (15 years under FERS). My wife and I both have Medicare parts A and B through VA. We are both covered on FEHB with GEHA Basic and have been with FEHB for seven continuous years. We are both eligible for Tricare for Life as I am a military retiree. Tricare for Life coverage for medication is superior to GEHA, but we cannot use Tricare…
Q. If a person retires on Dec. 31, 2011, and starts drawing Social Security as of Jan. 1, 2012, at age 64, would there be an offset if the amount of the final payout exceeded the Social Security benefits for the year (2012)? A: Probably not, because of what the Social Security Administration calls “the first year rule.” That rule applies to earnings for one year, usually the first year of retirement. It allows SSA to pay a full Social Security check for any whole month in which it considers you to be retired and when your earnings from wages…