Browsing: VERA

Q. I am a FERS employee with 28 years of service and have met my minimum retirement age. I will not be eligible for full retirement for another two years when I am 60 and have 30 years of service. If I am offered a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay (I work for the Army), will I get an annuity reduction if the offer is not a reduction in force?

Q. I took an early retirement incentive from the Postal Service beginning Jan. 31, after serving 23 years, at age 56. I have started receiving my annuity benefit from the post office, but have yet to get the special retirement supplement that I was supposed to receive. Do I have to communicate with anyone special, or do I just have to wait for things to be calculated?

Q. I was born in 1966 and my organization may undergo a reduction in force. I anticipate that I will have the 50 years of age and 20 years of service by the time they may offer the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Please let me know if the minimum retirement age counts during a RIF if I am a FERS employee because my MRA is 56½, of which I will only be 50 years of age, so I need to know if I will be penalized 5 percent each year under MRA. Hoping that the 50/20 rule…

Q. I am a 48-year-old FERS employee with 25 years of civil service. Our organization has offered a Voluntary Early Retirement Authority. If my organization approves my VERA, when would I be eligible to receive an annuity? Immediately or at age 56? What are the near- and long-term pros and cons of accepting VERA? A. Because you have at least 25 years of service, you would be eligible for an immediate annuity. When you reached your minimum retirement age, you would be entitled to the special retirement supplement. However, if you had earnings from wages or self-employment at the time…

Q. I am a letter carrier, age 52, started in 1985 and have 28 years of creditable service. If I understand what I’ve gleaned from the posts here and the Postal Service were to offer me a Voluntary Early Retirement Authority this year, 1.  Would I begin my annuity immediately? 2.  Would I have no reductions in calculations of my annuity? (average high-3 x 1 percent x 28) 3.  Would I receive credit for half of my sick leave and all of my annual leave? (How are these applied?) 4.  Would I receive the special retirement supplement beginning at age…

Q. I am eligible to retire October 2014 under FERS at age 56 (my minimum retirement age). Are you allowed to take both the Voluntary Early Retirement Authority and Voluntary Separation Incentive Pay? If not, which would be smarter to take?

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