Q. I am in an 0802 series position and am considering a lateral move to another government agency (1670 series). How, if at all, would this affect my CSRS plan? And would I get a step increase if I made the change? A. Moving to another agency in another series would not affect your retirement benefits. Whether you would receive a step increase is something you’ll have to discuss with your new agency.
Monthly Archives: November, 2012
Q. I plan on retiring at the end of 2014. I have been with the service 33½ years under CSRS. I have a couple of incurable medical issues, so I go to the doctor and hospital regularly. I have always paid into FEHP and have had BC/BS for more than five years. My question is regarding medical insurance. Do I have to obtain Medicare parts B, C and D? I will be continuing to pay into my FEHP when I retire but want to know if I should get any of those other plans because I do not want to…
Q. In 2002, I became a FERS employee and bought back almost 13 years of AFS. Since 9/11, I have been mobilized on active-duty orders that pushed me over the 20-year AFS mark, and I have been drawing an active-duty pension since June 1. I have gotten different answers to my question: Do I still have 20 years of federal employee time such that I could retire next year at the MRA of 56, or do I revert to only about five years of creditable federal service as a government employee? Also, if I must revert back to only five…
Q. I am with USPS and am in CSRS. I began working in 1973 and quit in 1977, at which time I withdrew my retirement money. I returned to USPS in 1983 and am still there. Do I need to redeposit the money I withdrew to get credit for 33 years of service? If I do not redeposit the money, will my annuity be decreased? A. Because you took that refund before Feb. 1, 1991, you’ll get credit for those years of service in determining your eligibility to retire. However, if you don’t redeposit that money, plus accrued interest, your…
Q. I am 57 years old; have 29 years of federal service, which includes nine years of military service; and plan on retiring at age 60 or 62. Does it make financial sense to pay for the nine years of military service during the next three to five years before I retire? A. Because you are a FERS employee, you don’t have 29 years of creditable service for retirement purposes; you have only 20. To get credit for those nine years of active-duty service in your annuity computation, you’d have to make a deposit to the retirement system, including accrued…
Q. I have been working for the federal government for a little more than two years. I am planning on moving in the next few months. I have applied to federal jobs as well as private-sector jobs and have heard back from the private-sector jobs. I read that TSP is vested at three years and that employees are entitled to retirement benefits after five years. If I were to leave the federal system at this point, would I be able to return to the system in the future and restart, as it were, at my two-year mark? A. Yes. If…
Q. As a retiree under CSRS, at what age do your annuity payments stop? A. There is no age limit. Your annuity payment will stop only when you die.
Q. Can you provide guidance concerning the regulatory references or law(s) governing leave accrual determination for retirement military members who buy back their military time? Also, what should happen once a retired military member buys back military time? I reviewed the most recent Q/A concerning this and could not find answers for the following situation: I retired from the military and began working for the federal government. As a participant in the military buyback program, I first requested my total income (SF 3108A) while serving in the military from my military service DFAS office. Once I received this information, I…
Q. I have bought my active-duty time back. Is annual training with the National Guard and Reserve applicable toward federal retirement if you buy it back? A. If you were called to active duty for training (ANACDUTRA) while employed by the federal government, you’ve already received credit for it and no deposit is required. If it occurred before you were employed by the federal government, you would have to make a deposit to get credit for it.
Q. I have approximately 25 years of Social Security credit, five years less than the 30-year total, which would exempt me from a WEP-based Social Security reduction. I am now at full retirement age, collecting my Social Security with a WEP deduction, and also working full time in a position for which I am paying Social Security taxes. Is this year, and every additional year that I work and pay Social Security tax, added to my 25-year total; if so, is there a subsequent recalculation of my WEP deduction every year as I inch toward 30 years with no deduction…