Q. I am a 48-year-old postal employee with a starting date of January 1987. I was discharged from the Marine Corps with a 30 percent retirement disability. I did the 3 percent buyback of my four years of military time back in 1990. Will my four military years be eligible to be included in my retirement, as I am already receiving a disability/retirement compensation? If they are not included toward my retirement, how do I begin the process for a refund on my military deposit? A. Yes, the four years of active-duty service for which you made a deposit will…
Monthly Archives: March, 2012
Q. If I go out on a Discontinued Service Retirement in May 2012, will I be eligible for a supplemental annuity when I reach my minimum retirement age in four years under FERS? Also, if Congress later eliminates the supplemental annuity as some have suggested, will I still receive it since I will already be retired? A. Yes.
Q. I work for the Postal Service and am eligible to retire later this year. Can I request to receive a lump-sum payment of my retirement contributions and still receive my monthly annuity? How would a lump-sum payment affect my monthly payment? A. No, you can’t receive a refund of your retirement contributions.
Q. I worked for the Postal Service from 1973 to 1983, and when I left I withdrew my CSRS retirement money. I went to work for D.C. Public Schools as an administrative aide from 1999 to 2009. I was RIF in 2009. I was under a 401a retirement plan and Social Security. I will be 62 in May. I want to know is there anyway I can repay or redeposit the money back into CSRS retirement other than getting a federal government job and working for three years, to receive annuity? A. No, there isn’t.
Q. I am a retired CSRS postal worker who does not have enough quarters to be eligible for Social Security when I’m 62. Can I collect benefits from my former or current wife who both have worked and paid into Social Security for years? I was married to my former spouse for more than 10 years and her benefits would be a better financial option for me. A. Because you are receiving an annuity from a retirement system where you didn’t pay Social Security taxes, any spousal Social Security benefit to which you might be entitled would likely be eliminated…
Q. I am 60 with almost 14 years with the Postal Service. I also have two years of military service that I bought back. I plan on retiring at 62 in October 2013. Will it hurt me to take a buyout if they offer one? I also worked for the railraod for 22 years prior to USPS and am eligible to collect at 62. What exactly will I lose retiring earlier than 62? A. Because you would have fewer than 20 years of creditable service, your annuity would be reduced by 5 percent for every year (5/12 percent per month) you were under…
Q. I have more than 24 years of military service when I retired. I am not working for any federal or civil service organization now. I am trying to go to work for a government agency. The question how can I figure out how much I would have to buy in without having a job yet? How many years will the buy in give me, all 24-plus years? I am 56 years old. What would be my eligible retirement date with a government job? I am receiving retirement pay, which deducts the VGLI and survivor benefit payments hand. How would…
Q. I am a full-time regular postal employee with 17 years and 15 years of military service for a combined total of 32 years of federal service. The mail processing facility where I work is scheduled to be closed. I am 53 years old and just short of retirement age. If I transfer to the Department of Veterans Affairs will my FERS contributions and accumulated annual and sick time transfer with me? I expect my service to be continuous with no break in service. If I’m not offered an early retirement or buyout options, I stand to lose these benefits.…
Q. If someone retires as a law enforcement officer, is he still eligible to obtain another federal job without it interfering with the LEO retirement? A. Yes. However, as a rule, the salary of your new position would be offset by the amount of your annuity.
Q. I am a 61-year-old CSRS employee. (I did not earn enough credits pre-federal employment to qualify for any Social Security benefit and have no intention of earning any credits post retirement.) My husband is 63 years old and self-employed; he will be entitled to a Social Security benefit of about $1,500 at age 66 based upon his lifetime earnings. When I retire, within the next few years, my monthly annuity will be around $7,000. My intention is to elect the survivor benefit for my annuity. If I predecease him during retirement, will his Social Security benefit be reduced by…