Q. I’m turning 65 in September (I’ve been retired under CSRS for seven years). I’m confused about what happens to my curent coverage under Blue Cross/Blue Shield. I’ve been told I have to sign up for Medicare Part B . What’s the relationship between the two? Also, my husband (over 65) has never had coverage under Medicare Part A as he’s always used my BC/BS. Will my going under Medicare affect him? A. You do not have to sign up for Medicare Part B unless you want to. However, before making a decision, I suggest that you pull out your FEHB…
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Q. I need to know how to buy my military time back, how much it will cost and where to send the forms. A. Go to the Ask the Experts site, click on the heading “Read more” and on the right hand column click on “Creditable service: FERS,” then scroll down to “Counting military service toward retirement,” dated Oct. 25, 2010. If, by chance, you are a CSRS employee rather than CSRS, use a Standard Form 2803 instead of the 3108.
Q: I’m retired military and am making a deposit to get credit for my 20 years of active duty service. I’ve been told that at the same time I make the deposit I also have to waive my military retired pay. Is that correct? I thought I could wait to waive my retired pay until I retired. A: According to OPM, an employee doesn’t have to waive his or her military retired pay at the time he makes a deposit. Instead, he or she “must send the waiver request directly to the Defense Finance and Accounting Office at least 90 days but not later than 60 days before…
Q: My spouse resigned from government under CSRS in 1988 and took his contribution out. He died IN 2000 at age 50. He was also in the military before the government CSRS job. Is there any fund(S) left in his account such as the government contribution, etc., for beneficiaries such as adult children or his wife? A: Since he took a refund of his contributions to the retirement fund, he canceled all rights to any future benefits. You’d have to check with his branch of service to see if there are any benefits available from them.
Q: I have money in an Army TSP. Is it true that if I do not withdraw funds from TSP within one year of retirement I will forfeit my account? Under FERS, can sick leave be used for additional service credit? A: It is not true that would forfeit your account. You can, and should, leave your money in the TSP as long as possible. Any FERS employee retiring between Oct. 29, 2009, and Dec. 31, 2013, will receive credit for one-half of his unused sick leave in determining his length of service and in his annuity computation. Anyone retiring…
Q: I retired in December 2010 with 34 years of federal service under the CSRS plan. My wife is a state government employee who has paid into Social Security her entire 32-year career. If my wife should predecease me, will I be eligible to receive Social Security as her survivor? A: Because you would be receiving an annuity from CSRS, a retirement system where you didn’t pay Social Security taxes, you would be subject to the government pension offset provision of law. Under the GPO, any spousal or survivor Social Security benefit to which you were entitled would be reduced…
Q: How is unused sick leave calculated when a CSRS employee retires at the maximum 42-year tenure with an 80-percent annuity calculation? Would the annuity be higher then 80 percent based on the sick leave accumulated? Example: Federal Service of 42 years. Sick leave accumulated is 3,000 hours. Would the annuity be calculated at near 83 percent? A: Yes. The 80-percent maximum is a cap on your earned annuity, the one based on your years of creditable service. It does not apply to unused sick leave or to additional annuity purchased through the Voluntary Contributions Program.
Q: Articles in Federal Times mentioned that CSRS employees will not receive the payroll tax deduction, but they have not mentioned CSRS Offset employees. As CSRS Offset employees pay into Social Security, will they receive the payroll tax deduction in 2011? A: Yes, CSRS Offset employees will receive the Social Security payroll tax deduction with no increase in the amount they contribute to CSRS.
Q: I am under FERS, and I am considering applying for disability due to bypass heart surgery. I am also retired from the active Air Force (20 years and collecting a pension). I’ve studied chapters 61 and 62 “Computation of Disability Retirement,” and under the General Rule it indicates active-duty military retirees are not eligible for the guaranteed minimum disability annuity compensation. Based on an answer you provided to a person in similar circumstances, this apparently does not apply to FERS. If that is true, then I have a question about computation for me if I stay to age 60…
Q: My Aunt passed away in October. She was never married and had no children. She was retired under the CSRS, and I was named with two others (one is deceased) as a beneficiary to receive a lump-sum retirement payment. How is the lump-sum amount calculated, and will it be divided equally between the two living beneficiaries? A: The lump-sum payment would consist solely of those retirement contributions your aunt made to the retirement fund that had not already been returned to her in her annuity payments. If anything does remain, it would be divided equally among the still-living beneficiaries…