Q. I am under FERS and my agency is offering a buyout under which you must retire by May 31. If I retire based on the buyout, I will receive a lump-sum payment in addition to the special retirement supplement. I understand the SRS may be eliminated per the current budget bill. The budget bill states the SRS will be eliminated for those who retire after Jan. 1, 2014. Will the elimination of the SRS, if passed, be grandfathered in where it could affect those who are already receiving the supplement, and/or for those who start to receive the supplement this year who retire before Jan. 1, 2014? I understand, to receive the SRS, you must have 30 years of creditable service and meet your minimum retirement age.
A. There is no way to predict whether the special retirement supplement will be eliminated and, if it is, what affect it would have. But if you accept the buyout and retire, under present law, you would be entitled to receive the special retirement supplement when you reach your minimum retirement age.