Browsing: annuity

Q. I am currently a federal employee and retired from the Army. I am receiving my military retirement (annuity). I recently paid a military deposit under FERS to position myself to waive my military retirement and add it to my federal time before I retire. I will also have approximately 45 years of combined service at the conclusion of my career. Am I eligible for CSRS or just FERS? The reason I now ask is because my new service computation date is now May 1982.

Q. I have 27 years of service and am currently employed with the federal government. I am 52 years old and was born in 1965. If I decide to leave before reaching 30 years of service and take a reduced annuity upon reaching my minimum retirement age, will the penalty be 20 percent in each of the four years before reaching 60, or will the penalty get reduced as I get closer to 60?

Q. I am a civil service employee that was involuntarily retired from the Department of Defense in 1997 due to base closure. I received a VSIP/VERA in the amount of $25,000. At the time I was 47 years old with 23 years plus four years of military time, which was credited toward retirement. Three months later I was hired by the U.S. Postal Service. I have been there for a little more than 19 years now. I am 66 years old now and am considering retirement this year. Will I be allowed to retire with the total years of service or…

Q. I will be turning 60 in December. I have been working steady now for 20 years, and am still working. My health is so bad now I’m in so much pain working. I won’t apply for disability due to the fact that it takes two years, I’m told, to process a claim. I can’t be without income for that long. I want to retire at 60. Can I do that? Will there be a large penalty?

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