Lump sum and bankruptcy

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Q. Can you receive a lump-sum payment from FERS? I am receiving $750 per month. I would like to pay a Chapter 13 so that I can move ahead. My spouse is employed and will work an additional 12 years. We have the means to continue with very little difficulty.

A. No, you can’t.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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