Q: The U.S. Postal Service wants to lay off senior employees first. I thought in a layoff situation the junior employees are removed first. Can they do that if you are a federal civil employee? Will I have the option to retire first before they do this? I have 32 years of service and I don’t want to lose those precious years and my pension. The postal service is saying it’s in dire straits, but they are still hiring people at headquarters and the plants. How and Why is it doing this if it’s so broke? What should I do?…
Monthly Archives: December, 2011
Q: I am 64 and I have worked under CSRS with no break in service for 28 years. I worked in the private sector before entering civil service. I earned my 40 quarters for Social Security eligibility before starting civil service. Will I be able to draw my Social Security upon CSRS retirement or will I be penalized? A: Yes, you will be able to receive a Social Security benefit. However, it will be reduced if you have fewer than 30 years of substantial earnings under Social Security.
Q: Will a law enforcement officer who retires early under VERA receive 6c law enforcement retirement benefits if they do not have 20 years law enforcement service, but meet the age requirements? A: No.
Q: In 1999 I was forced to go on disability retirement from the U.S. Postal Service after 13 years as a letter carrier. In addition, I had six years of military service that was paid back. I was on disability until 2005 when I was deemed by OPM to be restored to earning capacity (by a few hundred dollars). In 2006, I finally obtained another position in the Defense Department. What happens to the six years I was on disability? A: The time you were on disability retirement wouldn’t be included when determining your years of creditable service.
Q: I was a postal employee for 12 years, 1984-1996, and then was involuntarily separated. I am now 61 and thinking about finances after retirement. Am I eligible for my USPS vested annuity – and if so, when can I begin receiving it? And how do I determine how much that annuity would be? A: If you didn’t receive a refund of your retirement contributions when you left, you’d be eligible for a deferred annuity when you reach age 62. The amount would be computed using the following formula: 0.01 x your high-3 on the day you left x your…
Now that the congressional supercommittee has failed in its effort to get an agreement on deficit reduction, agencies face the prospect of automatic reductions in their budgets. With so much uncertainty about the future, it’s no surprise that there is a groundswell among those who are eligible to retire to do just that. For employees outside the U.S. Postal Service, whether you are a Civil Service Retirement System or Federal Employees Retirement System employee, the opportunity to jump ship couldn’t fall at a better time. That’s because the 2011 leave year ends on Saturday, Dec. 31. That date is advantageous…
Q. I am a federal employee and was wondering what was the latest I can rescind my retirement application prior to it becoming irrevocable? A. As a rule, an employee may withdraw his retirement application up to the date he separates from the government; however, his agency may decline that request if it has a valid reason for doing so and provides the explanation in writing.
Q. I left a Federal Reserve Bank for a position in the federal government. Public Law No: 106-168 permits former Federal Reserve Bank employees to receive credit in FERS if a former bank worker becomes a federal employee. Am I eligible to receive service credit for retirement in FERS for my years of service at a Federal Reserve Bank? Or, must my service have been with the Federal Reserve Board of Governors to qualify? A. According to OPM, “Employees of the Board of Governors meet the 5 U.S.C. 2105 definition of employee. Employees of the Federal Reserve Banks do not…
Q. I am a full-time Air National Guard technician. I have decided to retire from the military after 22 years of service. I have only 10 years as a full-time federal technician under the FERS system. In order for me to keep my full-time position, I must be in the Air National Guard. After my military retirement, I will have to resign my full-time position. Will I be eligible for unemployment benefits? A. The rules for unemployment compensation vary from state to state. You’ll have to check with your own state’s unemployment office.
Q. My wife has 20-plus years of federal service(CSRS, CSRS Offset and FERS). She took a leave of absence to care for an ailing parent, then a year later she resigned leaving 500 hours of sick leave. In 2002, she had an accident that left her unable to walk unassisted, and she has since been diagnosed with rheumatoid arthritis and is on Social Security disability. Is it possible to file for a deferred retirement at her age of 57, or does she have to wait until she is 62? Also, will the Social Security disability affect her retirement? A. Because…