Q. I have 31 years with CSRS and have 10 years Social Security paid in. Is there any advantage in changing over to FERS at this late date? I find that I would receive very little from Social Security. A. Because there is no provision in law that would allow you to transfer to FERS, your question is moot.
Monthly Archives: October, 2012
Q. I expect to marry a woman from abroad about two years after I retire. Does our age difference factor into her spousal annuity? A. While her age doesn’t matter, when you marry and elect a survivor annuity does. If you marry before you retire, your annuity will be reduced to provide for that benefit (around 10 percent (CSRS) or exactly 10 percent (FERS)). If you marry after you retire and elect a survivor benefit, there will be two reductions in your own annuity: the standard reduction and a permanent actuarial reduction to pay the survivor benefit deposit. The deposit…
Q. I recently accepted a job in my civilian pay series at another Air Force base. My pay has decreased more than $8 an hour due to the locality pay. I am at a wg9 salary, so that really hit the pocket book very hard. Is there a provision to ease the pain of such a decrease in salary? A. No. By law, locality pay reflects the cost of living in each area.
Q. I am 51 and have 32 years for FERS retirement now. I need to be at least 56 to retire. If I quit civil service now and work in the private sector, will I still receive FERS retirement and the FERS supplement when I turn 56? What other benefits would I lose, i.e. health insurance? A. If you left government now, you could apply for a deferred annuity at age 60. You wouldn’t be eligible for the special retirement supplement, nor could you re-enroll in either the Federal Employees Health Benefits or Federal Employees’ Group Life Insurance programs.
Q. I have 28 years of service at 56½ years of age. My MRA is 56. If I defer/postpone my retirement, at what age can I collect without any penalties? Also, would I be eligible for the special retirement supplement at that time? A. If you retired under the MRA+10 provision, you could postpone the receipt of your annuity to age 60 and avoid the age penalty. However, you wouldn’t be eligible for the special retirement supplement. Although you could resign from the government and apply for a deferred annuity at age 60, doing so wouldn’t gain you anything. But…
Q. Can I assume that previous employment to government employment, and a second job with payments to the Social Security trust fund while employed with the federal government, will not be subject to the CSRS offset? This is how I interpret the statement below. “CSRS annuity will be automatically reduced by the amount of Social Security benefit you earned while a CSRS offset employee.” If I am correct, then what is the formula used to determine offset and nonoffset benefits? I have at least 80 quarters accumulated from outside employment while working under the CSRS offset. A. As you noted,…
Q. I was in the Air Force title 10 from July 1977 to April 1992 (14 years and seven months). I was in the Air National Guard title 32 from June 1992 to June 2006 (14 years). I retired from the Guard title 32 and am receiving a retirement check. I now have a civil service job, and human resources is saying I can purchase the title 10 time toward retirement. If I purchase the title 10 time, will I have to forfeit my title 32 military retirement? Also, if this is correct, how would the 14 years benefit my…
Q. I have been employed with the Department of Homeland Security in the Transportation Security Administration for just under five years. I am planning to leave federal service to obtain field experience in the private sector with ambitions to return to the federal system with the FBI. 1. Are there any specific impacts of leaving service before the five-year milestone? 2. Are there specific do’s and don’t’s when leaving with intent to return to service? 3. Will the time I have invested stay with me when I rejoin the system? 4. Do I need to resume service within a certain…
Q. I have been employed with the Department of Homeland Security in the Transportation Security Administration for just under five years. I am planning to leave federal service to obtain field experience in the private sector with ambitions to return to the federal system with the FBI. 1. Are there any specific impacts of leaving service before the five-year milestone? 2. Are there specific do’s and don’t’s when leaving with intent to return to service? 3. Will the time I have invested stay with me when I rejoin the system? 4. Do I need to resume service within a certain…
Q. I am a federal law enforcement officer with four years of service in a 6c covered position. I was injured in the line of duty and my agency is unable to accommodate me in another position, so I am being medically retired. What are the health insurance options for me and my family after my disability retirement? A. Assuming that you are enrolled in the Federal Employees Health Benefits program, as a FERS disability retiree you will be able to continue that coverage. Note: When you apply for FERS disability retirement, you must simultaneously apply for Social Security disability…