Q. If I were to retire on Dec. 31, and have 170-plus hours of annual leave and 60-plus hours of sick leave, will I be paid for them after Dec 31? Should I take all my leave before Dec 31? A. If you retire on Dec. 31, you’ll receive a lump-sum payment for your hours of unused annual leave in 2012. You won’t receive any payment for your unused sick leave because it has no cash value. However, that leave will be added to any leftover hours of actual service that didn’t add up to a full month and may…
Monthly Archives: September, 2011
Q. My high-3 years were actually during three past years in an excepted service position and will not likely be my last three years. Will my actual past salary be used to calculate the high-3 or will it be based on the current levels paid for that higher grade? A. Your high-3 will be based on the average of your highest three consecutive years of base pay, regardless of when they occur in your career.
Q. Here is a question that nobody seems to know the answer, I am hoping someone on staff can answer the question. I retired from the U.S. military and am receiving retired pay and VA disability at 60 percent. I am paying monthly allotments to buy back my military time. So I am getting military retirement /CPRD & VA disability (service connected). When I retire from federal service under FERS and waive my military retired pay, do I still keep my VA payments for service disability? Simply put, can you receive a FERS retirement and VA disability even though you waived your military retirement…
Q. If my position is eliminated, when am I eligible to receive any of my retirement benefits? I’m almost 48 with a little over 24 years of federal service and I’m under FERS. Also, what kind of penalties would I incur by withdrawing funds from my TSP accounts? A. Because you would not meet the age and service requirements for early retirement, your only immediate benefit would be severance pay. If you left your contributions in the retirement fund, you would be eligible for a deferred annuity at age 60. If you are covered under the Federal Employees’ Group Life Insurance program, you…
Q. Is it within the rules to drop the Federal Employees Health Benefits plan and start Tricare Prime when I turn 60? I am an eligible National Guard retiree with 30-plus years. Tricare Prime is a fraction of the cost of my FEHB HMO. A. Yes. According to the Office of Personnel Management, Tricare- and CHAMPVA-eligible FEHB Program annuitants, survivors and former spouses may suspend their FEHB enrollments, and then return to the FEHB Program during the open season, or return to FEHB coverage immediately if they involuntarily lose this non-FEHB coverage. This allows eligible beneficiaries to avoid the expense of…
Q. My mom retired from the federal government and elected a survivor benefit for my dad. He recently passed away. She was told that she could not name a replacement survivor. Is this so? A. Only a spouse (or a former spouse under a court order) can receive a survivor benefit. When your dad passed, she should have informed the Office of Personnel Management. At that point, the reduction she took in her annuity to provide for a survivor benefit would have been eliminated and her annuity restored to what it would have been without that election.
Q. I worked from 1995 to 2005 for the Postal Service. For the first six years, I was a rural carrier associate. For the last three years, I was career with my own route. I may be going back to work for the Postal Service very soon and want to know what “back” time will be counted toward my retirement? Since I have a seven-year break in service, am I even entitled to get any of those years counted toward retirement? Is it by hours worked or by years worked? I was hoping I would get back at least the three years…
Q. I am CSRS and looking forward to my upcoming retirement in February, but I have some questions regarding survivor benefits. We are going to elect to take out a full survivor benefit annuity for my wife, but we cannot find any reference concerning whether the cost of this annuity will increase with future cost-of-living adjustments or age. We know that the formula for the cost is based on 10 percent of the gross amount at retirement, but we were under the assumption that the initial figure for the cost would not go up regardless of future COLAs. A. If you elect a…
Q. I was injured on my job with the post office and placed on workers’ compensation. I’m being paid monthly on this program. My injury was severe, and I most likely will not return soon. I will be turning 65 this month, and I’m thinking about applying for Social Security. Would this affect my pay under workers’ comp? A. Yes. To find out how workers’ compensation and other disability payments may affect your Social Security benefits, go to http://ssa.gov/pubs/10018.html.
Q. I am 58 with 20 years of service. In January of this year, I transferred from a permanent employee to temporary. I was told at first that I was eligible for the early retirement/buyout program. Later, I was told I was not because I am now a temporary employee. This doesn’t seem right. I’ve put in my time. I have the age. I’d like to know if perhaps I really am eligible for the early retirement and buyout. A. No, you aren’t eligible. Because you are in a temporary position, you fail the first criterion to receive a voluntary separation…