Browsing: DOWNSIZING

FERS retirement

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Q. In an article entitled “Calculating CSRS, FERS annuities,” you indicated “that you could also retire early at age 50 with 20 years of service, or, if you have 25 years of service, at any age. I have 27 years and four months of service and I am 50 years old. Am I correct to understand that if I retire now, there would be no age penalty?

VERA vs. VSIP

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Q. My agency sent out applications to apply for VERA/VSIP. I am 57 years old (MRA is 56). I have a almost 34 years creditable service. With my sick leave it will be almost 35 years. Will I be VERA or VSIP? Is one better than the other, or do I even have a choice?

Annual leave

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Service separation bonus and annuity computation

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Q. I have 14 years and 8 months of active Army service. In 1993, when Regan was initiating draw down of troops and instituted SSB (Service Separation Bonus), I received a Service Separation Bonus in 1993’s drawdown of $40,000 before taxes and separated from the Army in Sept. 1993. In June 1995, I entered the federal service as a full time Civilian Government Employee working for the Army Material Command where I work today. At the end of this month, I will have 18 years and 9 months as a federal government worker. I am currently 56 years old. Would it be more beneficial to…

Disability and buyout retirement

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Q. I received an “early-out/buyout” in 2005 with 24 years (FERS) of service prior to my minimum retirement age. I was age 46 at the time. I am currently receiving social security disability income. Will I be eligible to receive a FERS annuity once I reach my minimum retirement age (MRA)? Will I still be able to collect social security disability income? Or if when I reach my MRA, can I collect the FERS Special Supplement and the social security disability income?

Temp time buy back

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Q. I was a federal temporary worker for GSA from 1985 to 1994. Our agency is now shutting down on Sept. 30 and I bought back my temp time until 1988. From then on, I cannot buy my time back. Since we are closing, is it possible to buy back my other years? This is through no fault of my own and five more years would surely help as I didn’t pay into the Thrift Savings Plan in my temp time.

Conditions of new federal position

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Q. I worked from 4/1987 through 8/1998 as an Architect/Engineer SR with the USPS. I resigned with a good record. I have a form 50 that states my service which I submitted when I applied. I recently was hired to a new position. I cannot get a clear understanding about my retirement, my vesting and if I have a probationary period and how long it is. I was not reinstated. I was FERS, and I never took my basic .8 contribution out. I did transfer my Thrift Savings Plan to a private brokerage account. They used the .8 to continue…

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