Q. I have 36 years of creditable service under CSRS, and I am 56 years of age. In a reduction-in-force situation, assuming I was not placed in another government position, would I be entitled to both 52 weeks severance pay and an immediate annuity? A. Because you’d be eligible for an annuity, you wouldn’t be eligible for severance pay.
Monthly Archives: January, 2013
Q. I received a conditional offer of employment in the fall. Processing has been continuous. My actual start date will be this year. Will I fall under FERS, based on the offer date, or FERS-RAE, based on the start date? A. To the best of my knowledge, your retirement contribution rate will be based on the day you are employed, not the date on which the offer was made.
Q. I am 54 years old and was employed with a federal agency for 17 years from 1979 to 1996. Upon resignation to enter the private sector, I withdrew 100 percent of my CSRS contributions. If I return to full-time federal employment this year, do I have the option of buying back the creditable service of 17 years for the same amount that I withdrew in 1996? Secondly, would I be able to continue with CSRS rather than FERS upon re-employment? Would I be eligible to retire after eight more years of federal employment service? A. If you returned to…
Q. When I retire at the end of this school year, I will have 43 years of service with the Department of Defense Education Activity and 130 days of unused sick leave. I have been informed that my sick leave can be used to add additional service time. Does that apply when I have already reached 80 percent of my salary for retirement? A. Yes. Unused sick leave isn’t subject to the 80 percent limit.
Q. I was just told by my human resources specialist that when pretax Federal Employees Health Benefits premiums reduce my taxable income, they also reduce my salary for the computation of high-3 average salary for retirement. Is this true? It doesn’t sound right to me, and I’ve never heard such a thing. A. You haven’t heard such a thing because it isn’t true. Your high-3 is based on your highest average pay rates during any three consecutive years before any deductions are taken from that pay.
Q. I’m in an upper management position with the Transportation Security Administration for the past 10 years. Recently, I have heard that my immediate supervisor is proposing my removal from federal service. If I get removed, will I lose my federal pension or will I be able to collect it when I reach retirement age? A. If you don’t take a refund of your retirement contributions, you could apply for a deferred annuity at age 62.
Q. I am my sister’s only surviving relative. I have filled out and submitted the required paperwork to FERS. How long will it be before I receive payment from FERS? I have received payment from the Thrift Savings Plan. A. Only the Office of Personnel Management can answer your question. Call them at 888-767-6738 or 724-794-2005.
Q. I worked for the Department of the Interior from April 25, 1988, as a seasonal employee until I was converted to career conditional on Dec. 4, 1988. I was then hired at the Postal Service on March 11, 1989. Can I buy back my seasonal time? Will that help with creditable service toward the Voluntary Early Retirement Authority? Can sick leave and annual leave be credited toward the VERA? I do not have the age and my current service computation date is Dec. 4, 1988. I am hoping to reach the 25 years at any age, but it appears…
Q. I am about ready to retire and currently maintain a FEHB policy. My wife is still working and I can fall under her health plan at no extra cost, and the coverage is better. I have been told that you can “suspend” FEHB in retirement and reinstate it if need be. Is this true? A. No, it isn’t true. About the only ones who can suspend coverage are those who are covered by the military’s Tricare program. And they can only re-enroll if they lose that coverage or during an open season.
Q. I am CSRS Offset, having retired in 2001, and have been working in the private sector since that time. I turned 62 last year, applied for, and began drawing Social Security. However, my annuity has not been reduced. I have been holding out what I had estimated my reduction would be, anticipating that at some point the Social Security Administration would want the money. I have 34 years of substantial earnings, which includes my 14 years as an offset employee. Do these years affect the offset amount? Does this mean my annuity could possibly not be reduced? I have…