Q. I was born in 1959, which gives me a minimum retirement age of 56. I have bought back my military time and have 25 years with the federal (Veterans Affairs) government. I am thinking of retiring because my husband now lives and works in Canada. What retirement is right for me so I don’t lose much money? A. You can think about retiring, but you can’t retire. That’s because you don’t meet the age and service requirements. If you don’t want to stay until you do, you could resign from the government and apply for a deferred annuity at…
Monthly Archives: October, 2012
Q. My 93-year-old father has been retired from the federal government since he was 62. My mother passed away 22 years ago. He wants to marry a very young woman so she can get his pension. I can’t imagine the government would allow this. He is adamant that she will receive his pension if he marries her. A. Yes, he can elect a survivor annuity for a new wife. However, he needs to keep two things in mind. First, she wouldn’t be entitled to anything unless the marriage lasted for nine months before he died. Second, the cost of such…
Q. I will have 20 years of 6c covered law enforcement officer service at age 48. Can I retire then? Maybe if I don’t draw benefits until I’ve hit the MRA of 50? If this is possible, how will it affect my health benefits? A. No, you can’t retire at 48. To retire on an immediate annuity and continue your health benefits coverage in retirement, you will have to work to age 50, in either a covered or noncovered position. Alternatively, you could resign from the government and apply for an annuity at your minimum retirement age, which would be…
Q. I am a FERS employee with less than five years of service. If I accept a new position with the government after Jan. 1, will I pay the new, higher FERS contribution rate or will it be considered a transfer (i.e. not a “new hire”) and thus exempt from the new contribution rate? A. It would be considered a transfer and not subject to the “new hire” rate.
Q. I have about 23 years of 6c covered law enforcement officer service and turn 50 this year. I’m trying to decide if I want to jump to a private-sector job, and part of my decision will be based on what I am expecting as my FERS pension plus the special retirement supplement we are supposed to get given our mandatory retirement age. I have heard that a recent change in federal law, possibly as part of the Affordable Care Act, eliminated (or will eliminate) this supplement, even though when I started 23 years ago, that was not the law.…
Q. I am a FERS law enforcement officer with about 15 years’ service. I have a pain condition that does not show up on medical tests but for which I have been receiving treatments from doctors for about seven years. The FERS disability application says the system requires medical tests to prove the condition. If I have only a doctor’s diagnosis without positive tests, would my FERS disability application be considered? A. Yes, but it might not be approved.
Q. I am a federal worker under FERS and will be retiring in two years. For the past few months, I have been working a night shift, and my leave and earnings statement states that I’m getting paid a shift diff. Will this extra pay be used in calculations for my retirement? A. No.
Q. I have career status with the federal government but have not worked with the government for quite a while. After a break of more than 25 years, do I still retain career status? I am unemployed and would like to go back to federal service. My last position was with the Veterans Administration Headquarters in Washington. Before that, I was with VA Hospital in Salt Lake City, Utah, in the Engineering Department. I started my career working in Washington for the U.S. Army AMC. A. Yes, you’d retain your career status.
Q. In October, I went up to a GL-7 step 5 making $49,138. If I get selected for the GL-8 Senior Officer Specialist position I put in for, what step will I become? Do you gain an extra step as part of the promotion? A. You must be paid at least the equivalent of a two-step increase in the grade from which you were promoted.
Q. I’m a CSRS employee with 34 years of service, but I am only 54. Thus I am not eligible for optional retirement. My agency has been talking about a possible VERA/VSIP, which would probably require leaving by the end of December at the latest. I would still be about six months too young for a normal optional retirement. I am fully aware of the 2 percent per year penalty for taking a VERA at 55. Is that penalty always rounded up to the full year, or at just six months early, would it be pro-rated to 1 percent? While…