Q. What is the reasoning behind why FERS retirees don’t receive a COLA increase until age 62 and CSRS retirees receive it proportionately in the year after they retire?
Q. When I retired from the U.S. Postal Service in 2010, I elected to purchase a survivor annuity for my spouse. Should I survive my spouse, will I be entitled to any of the funds that I paid for the annuity?
Q. I understand that my FERS annuity doesn’t receive COLA increases until age 62. When I do turn 62 does my annuity only increase with subsequent COLA increases or is there a “catch-up” adjustment as well?
Q. There has been talk that the FERS supplemental is going to be done away with. Will it be replaced with another supplemental? What was the purpose of the supplemental in the first place? The cost of living has not gone down — it continues to go up each year. FERS employees will need some to bridge the gap before they can draw Social Security.
Q. I am under FERS disability retirement with 23 years of service at age 49. I was told by the Office of Personnel Management that at age 62, my 23 years would be bumped up to 32 years — the difference between when I left and when I turn 62. So would it bump up my FERS retirement at age 62? Is this correct that it would be reconfigured at a higher annuity?
Q. If you are FERS and under 62, will your retired pay stay exactly the same until you start getting COLAs at 62? For example, if I retire at 56 and get $800 a month, does it stay that way for the next six years?
Q. Is the cost of the spousal benefit I elect on the day I retire (approximately 10 percent of my pension) set in stone? Or do I have to pay more each year because the value of my pension is going up due to the cost-of-living adjustment (COLA)? (Is it 10 percent of retirement pay on Day 1 and that amount is paid forever, or 10 percent of my pension as it goes up due to COLA? Is the value of my spousal benefit based on 55 percent of the amount of my high-3 pay at retirement or is it 55 percent of my pension at…