Q. I’m retiring in January and am a 58-year-old CSRS Offset employee with 35+ years of creditable service. My service computation date is in November 1977, although seven years were temporary civil service prior to my permanent hiring in March 1984. 1. Will the windfall elimination provision apply to me? 2. If I buy back my post-1982 temp time, will that have an effect on whether or not the WEP will apply to me? My current Social Security statement shows my SSA earnings started in 1970, if that makes any difference. A. The rule governing the windfall elimination provision is…
Monthly Archives: November, 2012
Q. I have 20 years of active-duty service (Army E-6) and have just retired (actual retired date will be Dec. 1). I have been hired by the federal government as a GS-11. Would it be financially beneficial for me to buy back my military time and contribute it to my federal civilian retirement down the road? If I buy back my military time, will that 20 years allow me to retire from my civilian position early, maybe in 10 years with a total of 30 years of service? What is the impact or consequence of this on my military retirement?…
Q. I am a Postal Service employee, and I am confused about the number of hours (174) needed to add up to a month of sick leave. Could you explain your calculation? A. Annuities are computed using years and full months of service. Once an employee is eligible to retire, any days that don’t add up to one month are converted into hours and combined with unused sick leave hours. To equalize annuity payments, OPM uses 12 30-day months. To find out how many hours equal one month, it divides 2,087 (the number of hours in a work year) by…
Q. I am retiring under CSRS. My early D.C. government agency was closed in 2001. All employees were subjected to a reduction in force. At that time I had 19½ years of service and 867 hours of sick leave. I returned to government employment (another D.C. agency) in 2006 and was put through a reduction in force again in 2010. Although the break was too long for the hours to be re-credited for regular use, shouldn’t they be in time-in-service calculations for my annuity now? A. No.
Q. Where is information on the MRA+10 deferred retirement and restarting your FEHB? This is news to me, and I want to get it right. I haven’t done serious retirement counseling for a while. Since the Transportation Security Administration is now 10 years old, lots of employees are eligible for MRA+10 retirements. A. Go to www.opm.gov/retire/pubs/handbook/C042.pdf and scroll to Section 42A4.1.1F.
Q. My husband retired in CSRS at age 55. He will turn 62 in January and plans to collect his Social Security benefits then. He has BCBS federal basic family plan, which includes me. Is he required to accept Medicare Part A? If so, how does that affect my coverage? I am not collecting any retirement or Social Security benefits at this time, as I am just now 60. A. He isn’t required to apply for Medicare Part A; however, since he has already paid for the coverage and the way his FEHB plan will operate after he becomes eligible…
Q. My husband retired in CSRS at age 55. He will turn 62 in January and plans to collect his Social Security benefits then. He has BCBS federal basic family plan, which includes me. Is he required to accept Medicare Part A? If so, how does that affect my coverage? I am not collecting any retirement or Social Security benefits at this time, as I am just now 60. A. He isn’t required to apply for Medicare Part A; however, since he has already paid for the coverage and the way his FEHB plan will operate after he becomes eligible…
Q. I retired from the Postal Service after 30 years in June 2010. At the time, I did not repay my military service, which was 2½ years. I receive my Civil Service pension based on a combined civil service of 33 years. I also do not qualify for Social Security, as I have fewer than 40 credits (39). I also know that if I do not qualify for Social Security at age 62, after that point the Civil Service will always remain for a 33-year retirement that they do not continue to check eligibility. If I get re-employed with the…
Q. I retired from the Postal Service after 30 years in June 2010. At the time, I did not repay my military service, which was 2½ years. I receive my Civil Service pension based on a combined civil service of 33 years. I also do not qualify for Social Security, as I have fewer than 40 credits (39). I also know that if I do not qualify for Social Security at age 62, after that point the Civil Service will always remain for a 33-year retirement that they do not continue to check eligibility. If I get re-employed with the…
Q. I work for the Defense Contract Audit Agency. I served in the Guard or Army Reserve or on active duty for 21 years. From 2004-2006, I served in Afghanistan, and was injured during a combat mission. As a result, I was medically retired from the Army in January 2009. I am a Chapter 61 retiree (a medical retiree with less than 20 years of creditable active service). I am unique in that I had multiple injuries, but the Army board awards a retirement for only one disability. As a result, my VA disability pay exceeds my retired pay, and all of…