Q. I’m a FERS employee, air reserve technician. At the time of retirement, I will have 36 years. I will have reached my high year of tenure of 56, at which I’m forced to retire. I will receive my retirement pay, but I also understand that I will be authorized to apply for the special retirement supplement as long as I don’t get another federal job? Do I apply through the Office of Personnel Management? Where does this supplement come from? Will I be penalized for exceeding a certain income level? Will it reduce the amount I’m authorized when I…
Browsing: Creditable service: FERS
Q. I’m retired under FERS and my husband is still working for the federal government (also FERS). He has covered his son and me with Blue Cross/Blue Shield under the family plan. His son turned 27 years old this year, and we’re trying to decide whether to drop the family plan and seek insurance as self only. The savings per month is about $60, but I think we’ll end up paying more for taxes. Is there a way to calculate this? Do you have any suggestions?
Q. I resigned about 12 years ago as a FERS employee after working for 17 years. My 61st birthday is approaching, and I want to take a deferred annuity with a full survivor benefit. I understand that because I’m retiring one year before I turn 62 I will be penalized 5 percent. I also understand that the cost of a full survivor benefit is 10 percent. I further understand that the survivor benefit is normally 50 percent of the unreduced annuity. And lastly, I understand that if my survivor were to die before me, my annuity would return to its…
Q. Could you please tell me what the 2014 cost-of-living adjustment will be for federal retirees who retired under FERS with a civil service component? I retired with 30 years of service. Of that 30 years, five years was under civil service. I am 57 years old. When will I get my first COLA? Does my age play a role in that determination?
Q. I am a civil servant with 25½ years in under FERS. My position requires that I maintain a security clearance as a condition of employment. Unfortunately, due to personal reasons, I may lose my clearance and subsequently be forced into “early retirement.” I am 48 years old. Will I be able to maintain my Federal Employees Health Benefits and special retirement supplement (when I turn 57) since I have 25 years in, if I am forced into early retirement?
Q. I am under FERS. If I retire when I am eligible, can I go to work part time for a different government agency and still draw my retirement?
Q. Can you use your accrued sick leave to attach to your total time in service to bring you to 20 years of service so you get the .011 multiplier for your annuity?
Q. I turn 60 on Jan. 1, 2015. I am a FERS employee who will have 20 years creditable service in January of 2014. If I retire Dec. 13, 2014 (the end of a pay period) do I understand correctly that my Federal Employees Health Benefits and Federal Employees Group Life Insurance coverage will be extended for 31 days at no cost to me? I plan on postponing my annuity receipt until Jan. 1 (when I turn 60) to avoid the under-62 penalty. Also, do I understand correctly that since my postponed annuity date will be Jan. 1 that my…
Q. I plan to retire in January. I worked 25 years and bought back five years of active-duty military time, so I will have 30 years for retirement as of September. I read somewhere that the five years that I bought back military might keep me from getting the special retirement supplement. Is that true? I planned to retire, and the supplement was part of my plan. Do I have to have 30 years of working to get the supplement?
Q. I joined the military Sept. 12, 1978, and retired Oct. 1, 2008, with just over 30 years of active military service (no broken time). I began working for the federal government under FERS on Jan. 4, 2009. I’ve been told that I can resign after five years of government service (Jan. 3, 2014) and collect retirement benefits from the federal government once I reach the age of 62. Is that correct? If I have 40 hours of annual leave and 40 hours of sick leave, what is the earliest I can retire? Would it be two weeks prior to…