Q: Are the Social Security supplement and the special retirement supplement automatic, or do you have to contact OPM to set this up at the minimum age of eligibility? I retired at 52.4 years of age and I turn 56 in April. I was wondering if I have to contact OPM to recieve this supplement? A: Payment of the special retirement supplement is automatic.
Monthly Archives: February, 2012
In my Jan. 9 column, I wrote about 2012 changes affecting employees’ pay, retirees’ cost-of-living adjustments and Social Security benefits. In this column, I’ll describe other changes. Medicare At age 65, you’re eligible for Medicare Part A (hospital insurance), which is free because you have already paid for that benefit through payroll deductions. You’re also eligible for Medicare Part B (medical insurance), which isn’t free. If you decide to enroll in Medicare Part B, you have to pay the premiums. If last year’s individual taxable income was $85,000 or less, your 2012 monthly premium is $99.90, an increase of $3.50 for those…
Q. If I receive and/or apply for disability retirement, how does this affect an incentive to retire? If I apply now for disability retirement and an incentive is announced, will I be able to get the incentive? A. No, an employee who has a disability such that he would be eligible for disability retirement may not receive a Voluntary Separation Incentive Payment.
Q. I have 27 years of service, but two years of that is credited to me for a temporary appointment I had from 1980 to 1982. I’m under the Federal Employees Retirement System and my EOD is 1984. How will this affect my retirement, and should I or can I buy back those two years? A. For service before Oct. 1, 1982, you have a choice. If you make a deposit for that time, plus accrued interest, it will be used in the computation of your annuity. If you don’t, your annuity will be reduced by 10 percent of the…
Q. Do veterans receive any credit for reserve time they have served in the military? If so, would the credit go toward leave or retirement? In addition, would the military have to verify the reserve time as being creditable? A: No credit of any kind is given for reserve time.
Q. If I chose to serve my country in another capacity, would my active-duty military time count toward my retirement? I have a master’s degree, an IT background and a top secret clearance. I believe I could make a positive impact and would welcome a return to service. What programs would be available to someone like me? A. Your active-duty service would count toward setting your annual leave accrual rate, but wouldn’t go toward determining your length of service, nor would it be used in your annuity calculation — unless you made a deposit to the retirement system. That deposit…
Q. I have spent over seven years on active duty in the military. I currently have 10 years in the reserves. I’m looking at working at the Veterans Administration. I can buy back my active-duty time and have seven years toward retirement at the VA. But what about my reserve time? If I stay in the reserves, do I still get a retirement at the age of 59? If I buy back my seven years, does that count against my years in the reserves for retirement? A. Making a deposit for your seven years of active-duty service won’t have any…
Q. I am 61 years old and in the Civil Service Retirement System. I have paid back my military deposit, and don’t have enough quarters/credits under Social Security to qualify. I am anticipating retiring when I am 62-plus, and don’t plan on working to earn quarters/credits under Social Security. I have heard that I can request a refund of my military deposit after I retire; is this correct? If so, who handles that request? A. You were misinformed. You can’t get a refund of the deposit you made for your active-duty service. What’s done is done. If you retire at…
Q. My mother just came to me and showed me her Social Security statement. She asked: “Why are they deducting $96.50 for monthly Medicare insurance when I have full medical coverage from the Navy?” She is an 86-year-old Navy veteran, and my father, who passed away three years ago, was retired from the Navy. Is this something she should be paying? A. She appears to have signed up for Medicare Part B (medical insurance), for which she would be required to pay the premiums.
Q. If someone was to transfer from one federal agency to another (Postal Service to Federal Aviation Administration), would his annual leave and sick leave carry over? A. Yes.