Q. I am 58 years old and, in November, I will have 25 years in the Postal Service. I am under FERS. Can I retire if they offer an early retirement for me? A. Yes. Under the early retirement rules, you can retire at any age when you have at least 25 years of service.
Monthly Archives: April, 2012
Q. I have asked Medicare directly why I need Medicare Part B. I am a 100 percent disabled veteran and a retired federal employee. As a 100 percent disabled veteran, I receive all medical care and prescriptions directly from the Veterans Affairs Department. No one seems to know if I do or do not need Medicare Part B other than to give the government a $100-a-month premium. Why can’t anyone answer this question? A. The reason no one can answer that question is because one size doesn’t fit all. Whether Medicare Part B is right or wrong for you is…
Q. If my computation date is August 1985, should I be in FERS or CSRS? I am currently under FERS but read that Congress implemented it in 1986? A. You are right where you should be. You would have had to be covered by CSRS for five years before Jan. 1, 1987, to have remained in that retirement system. Because you didn’t have five years, you were automatically converted to FERS.
Q. I’m planning on retiring at the end of this year. I will have the 41 years, 11 months to get 80 percent of my salary. I don’t want to take any annual leave this year and instead use about 160 hours of excess sick leave that I have. Can I do that, or is there a rule that says I can’t use my sick leave that way in the last year of my government service? If it’s OK, can you tell me where it says it’s OK to do so? Is this just something my boss has to approve? A. Taking sick leave…
Q. My spouse is dealing with health issues that may require a disability retirement under FERS. He has 4½ years of actual service with four years of additional military academy time which he bought back. First, would this time count toward the five-year minimum retirement requirement? If not, and he is running out of leave, would he be allowed under the Office of Personnel Management to enter a “leave without pay” status in order to meet the mandatory five-year requirement prior to retirement. A. To be eligible for disability retirement, a FERS employee only needs to have been employed for…
Q. I am 60 years old and had emergency major open heart surgery May 16, 2011. The Mayo Clinic in Jacksonville, Fla., installed a left ventricular assist device. I had to stay away from my home in Georgia and stay close to the Mayo Clinic following this procedure for several months, which put a strain on my savings. I was forced to have to retire with approximately 37 years of government service. My retirement date was Sept. 2, 2011. I put in for an alternate retirement annuity because of my qualifying medical condition to help me pay my medical bills…
Q. I worked from 1992 to 1995 as resident in VA. Human resources states that because it was after 1989 and I was covered under FICA, I cannot pay back to get credit under FERS. Is that true? A. Yes, it’s true. That’s because nondeduction service performed after Jan. 1, 1989, isn’t creditable. And a deposit can’t be made to make it so.
Q. Are survivor annuities paid to surviving spouse taxable? Distribution code on 1099-R is 4-Death Benefit and no federal income taxes were withheld. A. Yes, they are. However, if there are any unexpended retirement contributions in the late spouse’s account, a portion of the annuity would be tax-free. For more information, go to https://www.irs.gov/publications/p721/index.html.
Q. I was just wondering if there is a list of people in civil service who are being offered a buyout but for some reason can’t take it. I have 40 years in service, and if they could qualify for my job, can we exchange their buyout for my job? I work for FISC out of Norfolk, Va., and I haven’t heard of any buyouts being offered through them yet. I was just wondering if someone needed another 6-10 years in service and was being offered a buyout because of downsizing or whatever, then maybe we could swap. If so,…
Q. My father was a civilian employee for the Army Corps of Engineers. He passed away recently. He was single for many years but remarried three years ago. Since he married, am I still entitled to any benefit since his death? If so, what benefit am I entitled to since I am his only child? A. You aren’t entitled to anything, unless he named you as the beneficiary of any Federal Employees Group Life Insurance policy he still had when he died.