Q. I am a Civil Service Retirement System/Federal Employees Retirement System retiree that left the government after 30 years. I switched to FERS in 1987. At age 62, I had 21 years of substantial earnings under social security. I began receiving social security benefits at 65. By age 62, I had 7 years of substantial earnings in the private sector. Most of these years are maximum earnings. Will my social security benefits be increased? In total I now have 27 years of substantial earnings and will be 69 in October.
Browsing: Creditable service: FERS
Q. Just received my military service earnings/buy back calculation from Defense Finance and Accounting Service. I had 15 years, 5 months and 13 days of Active-Guard-Reserve Service, but a total of 23-plus years in the National Guard, which would also qualify me for a National Guard pension at age 60. I understand that in addition to that Guard retirement check, which I will begin to receive in 2020, my buy-back of the 15-plus years, once paid and complete and added to my 15 years of federal civil service as an Army civilian in 3 years, would give me a total of 30 years…
Q. I was told this morning that if you receive the FERS (Federal Employee Retirement System) Supplement that your basic FERS annuity will be reduced because you have to pay back the supplement amount that you received over the length of your retirement. This was a new one to me, is this true? I was under the impression that the supplement comes out of a pool of money from OPM (Office of Personnel Management) and that is a reason the politicians want to take it away.
Q. I am 53 years old and filed for Social Security Disability and FERS Disability retirement at age 39 and 6 months in 2001. I was approved for both SSD and FERS Disability simultaneously. I left the Postal Service in 2001 with just under 14 years service. If at some point I am no longer considered eligible for Social Security Disability, what happens to my FERS disability?
Q. If my agency offers an early out I will be age 53 with 28 years of service. My question is in regards to the FERS supplement. Will I still be entitled to this at my MRA which is age 56 or is it lost forever? Some in HR have said it will be lost because I retired early out and therefore I will never receive it. This is a major factor in deciding if I wish to go out early.
Q. I was born in 1959, so my MRA age is 56 with 30+ years of service. I turn 56 on Oct. 10, 2015 (which is a Saturday) and I will have 31 years with the USPS (FERS). My master file says I’m eligible to retire on Oct. 9. What is the correct date of retirement? I don’t want to retire on that Friday, Oct. 9, only to find out I retired one day too early.
Q. I am retiring at age 62 under the FERS retirement system. The health care coverage I have is FEHB family coverage. When my spouse turns 65, will she need to sign up for Medicare A and B? I would be 63 and ineligible for Medicare while my wife WOULD be eligible. How would that affect my FEHB family coverage and costs? Should my wife sign up for Medicare A & B at age 65 even though I retired at age 62?
Q. I have a question about going part time in the federal system, FERS, post-1986. I was hired in October 1995. If I went part time until I retired at age 60, say 4 days a week, how will that affect my retirement calculation, and will I lose anything in the FERS calculation for going part time at the end of my career besides the less time used in the calculation? Will they still use my full salary for the calculation?
Q. I worked as a temporary employee not to exceed 1 year, but was renewed for a second time, from September 1983 to April 1985, which at that time was converted to full employment status. From September 1983 to April 1985 I did not have my government contribution taken out. My question is, can I pay this back now, and if so, who do I contact to do so?? All my inquiries have resulted in them telling me wait till I retire, but if I can pay back I would like to do so before retirement.
In my last two columns I wrote about calendar year 2015 changes in the dollar amounts or percentages affecting your pay (1 percent increase), cost-of-living adjustments for eligible retirees and more, survivors and Social Security beneficiaries (1.7 percent increase), the Social Security earnings limit ($15,720), Medicare Part B (premiums unchanged), death benefits and children’s benefits (both higher by 1 percent). In this final column, I’ll tell you about interest rates, the salary cap, military deposits, present value factors, the maximum taxable wage base, and the Thrift Savings Plan deferral limit. Previous Installments Part I Part II Interest rates Interest is…