Q. I work for NASA and will be eligible for early FERS retirement under a Voluntary Early Retirement Authority this year. Can the agency or center deny an employee who requests a VERA separation if he/she is eligible? The response from my center has been, “While VERA requests are generally approved, employees must remember that separating under VERA is not an automatic entitlement and requests can be denied for various reasons.” I would like some policy insight to substantiate this statement. Are there approved criteria associated with such a denial? I would like to plan in advance for an early…
Yearly Archives: 2013
Q. How many years of federal service does one have to work before retiring and receiving the exact amount of pay they are getting while working? Someone said you had to work until 35 years of service to receive your full retirement pay. A. Regardless of which retirement system you are in, it would be impossible to retire and receive an annuity that equaled what you were earning as an employee. Under FERS, even if you worked for 50 years, your annuity would only equal 55 percent of your highest three years of average salary (.011 x your high-3 x…
Q. I left the Department of Justice in 1999, after working as a civilian for five years. I returned to DOJ in July. On my first day back, my agency told me my accrued sick leave would be reinstated to my account as soon as they got my personnel jacket from the Office of Personnel Management. I am now being told that my personnel jacket does not contain any information about how much sick leave I may have accrued in the 1990s. They asked if I have my final pay stub, which I do not. They also cannot locate this…
Q. I am 58 years old and am separating from a Department of Interior agency due to a term employment expiration. I have 10 years in the federal system: six years as a permanent employee and four years as a term employee. The permanent position was as a GS 11 Step 3, and the term position is a GS-12 Step 5. I am trying to find information regarding retirement options. Where can I look for this kind of information? Specifically, I’d like to calculate how much I may receive if I start taking a pension now, and how much I…
Q. I turned 62 in 2006 October. Since I am gainfully employed, I did not file for deferred annuity until February 2012. To my surprise, my calculation is showing that my eligibility starts in October 2008 and paid arrears only up to October 2008. Secondly, it appears that cost-of-living adjustments are not considered in calculating arrears. Could you please advise me to understand and resolve this issue? A. According to the Office of Personnel Management, “For a deferred retirement, the commencing date is normally their 62nd birthday. The commencing date remains the same even if they don’t apply until a…
Q. About two years ago, a bill was submitted to allow credit of unused annual leave to FERS. Has this bill passed in any form to date? Has this been implemented to date? If so, how does one pursue this? A. Yes, a law was passed that allowed FERS employees to get credit for accrued and unused annual leave in the computation of their retirement annuities. However, the law only granted half credit to anyone retiring before Jan. 1, 2014. Anyone retiring after Dec. 31, 2013, will get full credit.
Q. I have been working for the Postal Service since September 1988, and I am now 58½. I will have 24 years and five months service time when the early retirement offer takes effect. Beside the annuity, do I also get that special retirement supplement? If so, how much is it if my retirement pay at 62 from Social Security is $1,350 a month? A. Yes, you’ll be entitled to the special retirement supplement. While I can’t tell you how much it will be, I can give you a formula that will approximate the amount. Here it is: Take that…
Q. I’m 50 years old, have worked for the Postal Service for 28 years, and am eligible for the voluntary early retirement offer. Would I be eligible to apply for Social Security disability benefits also? I am with FERS and have been profoundly deaf since birth. A. As a FERS employee who is covered by Social Security, you would be eligible to apply to SSDI. To find out if you would qualify for that benefit, go to www.ssa.gov/dibplan/dqualify.htm.
Q. If I’ve accepted the FERS Postal Service voluntary early retirement offer, can I then file for disability retirement? A. Yes. To find the rules and time limits on filing, go to www.opm.gov/retire/pre/fers/disability.asp and click on Applying for Disability Retirement.
Q. My agency will be offering early retirement this year, and I am confused as to whether I will be penalized if I accept it. I have 25½ years of service and will turn 50 in October. What are the negatives for my taking an early retirement — that is, penalties, loss of benefits, etc.? A. If you accepted the early retirement offer, your annuity would be based on the standard FERS formula and your years and full months of service. You’d also receive credit for half of your unused sick leave in your annuity computation. Further, the 5 percent…