Q. I went from a 6c covered law enforcement position to non-6c back to 6c. Does the 20 years I must have in 6c to retire have to be consecutive, or do I just have to get the 20 in by age 57? A. You just have to get 20 years of covered service.
Monthly Archives: November, 2012
Q. I am planning to retire in about two years, after a 40-year career as a federal dentist with the VA. I would like to continue working (same job), part time (two days per week). However, I do not want to take a reduced pension, as it does not make economic sense. Is there a way to work part time (and receive a part-time salary, not a consultant fee, which is very little) and collect a full pension? Thank you A. Only if you were hired under one of those rare authorities that allow you to keep both your annuity…
Q. I am under FERS. I turn 62 in June 2014 with 15 years of service. If I retire at the end of June and if I have the maximum 240 hours of annual leave carried over from the end of December the year before, what happens to annual hours earned from January to end of June, when I retire? Will unused annual leave be added to my service time? If the answer is yes, is it 174 hours for each month, as it is with sick leave? A. Annual leave cannot be added to your actual service time. Instead,…
Q. I am a rehired annuitant. My Earnings and Leave Statement shows my hourly rate as $13.41. But the section “Your Pay” consists of “Gross pay is figured at $8.84 per hour” (which is the amount after my annuity is deducted from my wages). All of my correspondence (SF-50) shows $13.41, and rehire papers show an hourly wage of $13.41. Why doesn’t my Earnings and Leave Statement show me making the $13.41 per hour and then show my annuity as a deduction from my wages? If it showed wages at $13.41 as a seasonal employee, I would be eligible to…
Q. Can you draw Social Security while working if you didn’t pay in 40 quarters but you reached full retirement age? A. No, you can’t. However, if you had 40 quarters, you could continue working and draw a Social Security benefit; and, if you had reached full Social Security retirement age (65 to 67, depending on your year of birth), you wouldn’t be subject to the annual earnings limit.
Q. I’m contemplating retirement, but I want to make sure what I’m hearing is correct. My service computation date is January 1980, so I have almost 33 years’ service. However, after my first seven years of service, I chose to retire and stay at home with my two babies. Thinking I wouldn’t return, I withdrew my retirement, which was in the $6,000-$7,000 amount. After 3½ years, I came back and worked another four years and then again resigned to stay home with a third child. I returned a year later (1989) and have been here since that time. I switched…
Q. I am an Air Reserve technician. I turn 60 in March 2014 and by law will have to retire from the military side of my federal job. At that time I will have 11 years as a federal employee, and with making the deposit on my active-duty military service, I will have just shy of 17 years in the federal system. I was at a retirement seminar for FERS and was told the government would have to find me a job to keep me employed until I reach 20 years of federal service. 1. Is that true? 2. Do…
Q. How many holidays would I receive under the phased retirement option? A. At present, no one knows how that will be handled. You’ll have to wait until 1) OPM issues detailed guidance, 2) you find out if your agency is interested in offering you an opportunity to participate and 3) assuming the agency was interested, what your work schedule would be.
Q. I retired from the Army National Guard in 1991 with more than 20 years of National Guard service and approximately 13 years of active-duty (AGR) time. After retiring from the Guard, I spent 10 years in the private sector and six years working in state government before I was hired by the VA in 2006. I am 60 and just began receiving my National Guard retirement (20-plus years after retirement). Can I buy into the federal retirement plan based on my service time/points? If so, approximately when would I be eligible for retirement? What would be the impact on…
Q. I am 48 with 25 years of federal service under FERS. I am considering my options and was wondering what would be the ramifications of leaving government service by resignation or early retirement, if available. A. If your agency offered you an opportunity to retire early, you could do that. If it didn’t, you couldn’t. With early retirement, you’d receive an annuity computed as follows: 0.01 x your high-3 x your years and full months of service. You wouldn’t be eligible for the special retirement supplement until you reached your minimum retirement age (56) and your first cost-of-living adjustment…