Browsing: Creditable service: FERS

Q. My husband just retired under FERS. We are both federal employees. I am under FERS as well with a 31 years born 1964 plan to retire at age 56 like my spouse in 4 years and 11 months. I dropped my PPO insurance years ago when we married, and he covers me under his PPO Blue Cross Blue Shield. Before I retire, am I required to spend the last five years with my own health insurance?

With bills being introduced on the Hill to eliminate the special retirement supplement (SRS) for future Federal Employees Retirement System (FERS) retirees, I thought it would be a good idea to explain what the special retirement supplement (SRS) is, why it is, and how the amount is figured. What is the SRS and why is it provided? The SRS approximates the Social Security benefit you earned while a FERS employee. It’s designed to bridge the gap between the time you retire and age 62, when you’ll be eligible for a Social Security benefit. Notice the words “bridge the gap”? The…

Q. I have been a FERS employee since June 1986. I also have seven years active duty that I have paid back for retirement. Does the seven years also count toward creditable civilian service or only the 29 years I currently have? And if I retire in June 2016 after I’ve turned 56 years old, would I only have 30 years of creditable service to determine the annuity supplement, or would I have 27 years?

Q. I worked for the U.S. Postal Service for one month in 1974 and then left to join the Navy. After serving four years in the Navy, I applied for reinstatement to the Postal Service and was rehired in February 1980 under CSRS. I left the Postal Service in September 1984 and collected my retirement earnings. I was rehired by the Postal Service in November 1986 and placed under FERS. I have bought back my four years of military time. I would like to make a redeposit for the CSRS period of four years and seven months. What terms and/or interest rates…

Q. I have been a civilian employee with the Army for four and a half years, and I am receiving mixed information on my ability to purchase my military active duty time towards my FERS. I’m currently in the U.S. Air Force Reserve and am scheduled to retire in September 2015. I have 17 and a half years of Total Active Federal Military Service (TAFMS) time, which is a combination of active duty from being full-time Air Force, coupled with active duty performed as an activated Air Guardsman and Air Force Reservist post 9/11. I’ve been told from various representatives at…

Q. I began working for OPM as a background investigator on Aug. 23, 1992. I was terminated involuntarily through a Reduction in Force on May 3, 1994. I was hired with the Department of Justice on June 26, 1994. My previous Service Computation Date (Leave) was dated Aug. 23, 1992, on my SF-50B. My Leave on my SF-50B was dated Oct. 15, 1992, after I began work for DOJ, which apparently reflects the days without government employment. On a recent personal account statement, my retirement date reads June 26, 1994, which is the date that I began working at DOJ. It appears…

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