Q. I am FERS with 17 years of law enforcement service. I am 44. In three years, can I go on sabbatical or an unpaid leave of absence until I am 50 and then turn in retirement papers or do I have to stay in a federal job. I understand I do not need to stay in my current federal law enforcement job, or even with this agency, but must I stay in federal service or can I not work at all. A. You could leave government when you’ve completed 20 years of service and apply for a deferred retirement…
Monthly Archives: October, 2011
Q. I will be 55 next year and have about 28 years of civil service, including 22 years in CSRS; three months’ temp time prior to 1982; 15 months’ temp time after 1982; and four years in CSRS offset. I did not withdraw any CSRS funds. I am going to pay the deposit for my temp time. I paid Social Security during the temp times and I paid no Social Security during the CSRS time, and I pay Social Security and a small amount into CSRS retirement during the offset time. If Social Security has been fully paid for the…
Q. I made a monumental oversight when I went to work for AAFES in 1992. I was in the belief that I would qualify for a pension. Come to find out I won’t, because I am a regular part-time employee (34 hours per week) even though I frequently worked 40 hours a week. Then, another AAFES employee told me of someone else who was leaving AAFES after a lengthy employment, to take up a civil service job and that his time with AAFES would be counted when qualifying for federal pension. I have not yet been able to verify this.…
Q. I am under the FERS retirement system. I am 49 with 21 years of service. I am being told there will be a VERA/VISP offered this fall and next spring. I will turn 50 during the VERA/VISP timeline. If I take the VERA, will my government annuity be reduced by the 5 percent per year? A. If you accept an offer of early retirement, you will be exempt from the 5 percent-per-year age penalty.
Q. I did a military buyback for my three years’ active military duty quite a long time ago. I am under FERS and there has never been anything entered in Box 21 Military Deposit on my Earnings and Leave Statement. Is this anything to be concerned about as I near retirement age? If so, what would suggest I do? A. There probably isn’t anything to be concerned about. However, to be sure, take any paperwork you have that shows you made the deposit to your payroll office and show it to them.
Q. I hope you can help me with calculating what my retirement check will be if I do the military buyback program. I served seven years on active duty and 22 years in the reserves. My reserve retirement paycheck will be approximately $1,700 that I will start collecting at age 60. I would like to know the approximate monthly amount of my civil service retirement check if I bought back my military time. I realize I can only collect one or the other, not both. I want to see if it’s worth it to continue with the military buyback program.…
Q. I was offered and accepted early retirement two months before I was terminated from Federal Service for misconduct. The Merit Board and Federal Court did not address whether or not I was still entitled to receive my retirement. Am I entitled to receive my retirement? My CSRS was automatically transferred to FERS stating that I may be able to retire at the age of 62. Will my payments differ from CSRS of $3,900 a month (OPM calculation)?. It is also my understanding that I will not be eligible for health benefits when I retire. Is this true? Can I receive retirement…
Q. I have been told that the USPS bargaining employees must reduce their annual leave to 440 hours by Dec. 31, 2011. But I’ve read Jan. 13, 2012 is the date. Do you know what date is correct? A. While for most employees, the 2011 leave year ends Dec. 31, for Postal Service employees it ends on January 13, 2012. Therefore, as a Postal Service bargaining unit employee, you’ll have to reduce your annual leave balance to 440 by January 13 or lose the excess.
In my Oct. 3 column, I described how taking leave without pay (LWOP) affects the basic employment rights and creditable service of most employees. In this column, I’ll describe the effects of LWOP on your retirement, life and health insurance benefits, and some special benefit programs. For purposes of calculating retirement benefits, an aggregate of six months in LWOP status in any calendar year is considered creditable service. There is no cost to you in terms of retirement deductions while you are in a nonpay status. If your unpaid leave is only a portion of a pay period, the amount…
Q: My mentally disabled adult son receives minimal Social Security and SSI. I am a CSRS retiree. Upon my death, will he be entitled to both Social Security and the survivor benefit or will there be an offset? A: He would get both, but he could only receive the CSRS survivor benefit if he was disabled before age 18, is unmarried, is dependent on you, and is incapable of self support.