Q. I’m 52 and have almost 34 years of federal service under CSRS. If I were to resign, would my retirement start at age 60? Would health insurance start, as well, at age 60?
Browsing: Deferred retirement
Q. I am more than 58 years old and voluntarily resigning from my position with the Veterans Affairs Department. I have 20 years of creditable FERS service and plan to postpone the start of my annuity and my retirement until my 60th birthday. I plan to submit the Form 92-19 two months prior to my 60th birthday, which will be in October 2014. In the interim, I will be obtaining my health insurance through my spouse, but I have plans to regain our family health/life insurance (held less than five years) at the same time I start my annuity, which…
Q. I am a career employee with just over three years of civil service. I bought back 10 years of military service. If I am affected by a reduction in force before I reach five years of civil service, would I still be eligible for a deferred annuity when I’m 60? If I don’t qualify for FERS, does that mean I wasted the money spent for the military buyback?
Q. After working for the Postal Service for 20 years, I left service in 2004. I started as an RCR in 1984, and later became an RCA. In 1995, I became a rural carrier full time and was in FERS for nine years. I heard that I can buy more years for my retirement calculations. I turn 62 in December. How do I find out what buying some years will cost, and what forms will I need to have everything ready for December?
Q. I plan on applying soon for a FERS deferred annuity. Nowhere have I read whether the Office of Personnel Management actually purchases an annuity from a private insurance company, creates its own version of annuities, or a FERS deferred annuity is simply a transfer of monies out of the General Fund (tax payments)? Please explain whether a FERS annuity is a private annuity contract, a public contract or just another tax payment transfer program (like the Social Security Administration). If it is private, what insurance company is used? If it is public, is this just another transfer program from…
Q. I am 49 and was wondering if I can retire at 52 with 20 years of Postal Service time even though my minimum retirement age is 56. If so, could I defer my pension until 60 and collect it then with a 5 percent penalty for each year before 62? Would I be eligible to continue my health benefits and collect the special retirement supplement until age 62 if I were to do that? Or would I have to use my MRA+10 computation to retire? If that is the case, would I then be able to continue my health…
Q. I have over 14 years of civil service. I’m retired military (20 years). I’m almost 58 years old. I fall under FERS. A while back, an email came down asking who would be interested in Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I replied in the affirmative. If they offer VERA/VSIP, my supervisor says he would not approve it for me, as he cannot afford to lose the position. My plan was to retire at 60, but if they offered VERA/VSIP, I would go earlier. With talk of reductions in force being thrown into the mix, I’m concerned what…
Q. I am going on 42 with 23 years of federal service. I would like to know if I would qualify for anything if a reduction in force were to take place. I see the computation charts show any age but you need 25 years. I don’t have 25 yet, so would that mean I wouldn’t be eligible for buyouts or anything until then?
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. I was a tenured foreign service officer. I have nine years of creditable service. I voluntarily left the Foreign Commercial Service after multiple posts. I left in August 2010 with excellent reviews and under great conditions and awards. I was 54 when I left the service to join a private company. I am now 58. I would like to apply for retirement benefits to qualify for Federal Employees Health Benefits for myself and to gain any other benefits from the pension. Can you help me to understand what I may be eligible for and when I could apply?