Q. I am under FERS, 57 years old and will have 30 years in on Feb. 12, 2014. I have been asked if I would take a buyout and leave Dec. 31. What impact would retiring two months early have on me financially? Would I still get the special retirement supplement? Would my pension be reduced?
Browsing: Early retirement
Q. My husband got a survey about which option he would take to retire early, but how do we know if it is going to be offered to him?
Q. How many years of federal employment does one need to be eligible for retiree health insurance? Do employees becomes “vested” in health insurance after a certain number of years? I thought I needed to be working for 10 years with the feds to be eligible for retiree health insurance, but now I am not so sure.
Q. I have more than 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, I’m concerned what course would be most…
Q. I’m 53 years old with 22 years of service. Will I be eligible for Voluntary Separation Incentive Pay, and would it be beneficial to retire early?
Q. I am 50 years old with 20 years of service from the military (retired). I have 10 years federal service. Do I qualify for Voluntary Separation Incentive Pay? If not, OPM Form 1496A is the application For Voluntary Early Retirement. Do I submit Form 1496A prior to terminating my employment or wait until I reach the minimum retirement age?
In my last two columns, I described the procedures agencies are required to use when they conduct a reduction in force. In this column, I’ll focus on the options available to employees who are eligible to retire when facing a RIF. Immediate retirement If you have the right combination of age and service, you’ll be able to retire on an immediate annuity, even if you aren’t directly targeted by a RIF. Here are the rules, which are different for personnel under the Civil Service Retirement System and the Federal Employees Retirement System. The immediate retirement rules are different for special…
Q. I’m 49 years old and I have 18 years in with the post office. I’m under FERS. I want to get in my 20 years and then I want to leave the post office and open up a catering business. When I leave the post office, will I be able to draw on my 20 years at retirement age of 62 or will I lose the time I have in and end up with nothing for leaving early? If I get anything, how will I know how much I can expect to get?
Q. I have recently heard about an 85-year time and service requirement for CSRS. I have always been told that you need the standard 55 years of age to retire unless your organization was having a reduction in force or similar downsizing. Is there any discussion of this in the CSRS manuals?
Q. I work for Congress and have just over 26 years of federal service under FERS. I will be turning 51 years old at the end of this year. Can I retire early and defer my FERS retirement without penalty and work another job as a contractor until I reach age 62, then completely retire and start receiving my benefits? Also, will I be eligible to continue to receive my Federal Employees Health Benefits if I retire at the end of this year?