Browsing: Earnings test

Q. I am a FERS employee working for the Department of Agriculture. I have been offered a job outside of the government and am trying to see the pros and cons of leaving. I am a FERS employee with a service computation date of Aug. 17, 1986, and am 46 years old. If I apply for Voluntary Early Retirement Authority, what would the disadvantages or advantages be?

Q. I am a FERS federal employee and I turn 62 in March. Can I draw my Social Security at 62 (worked in industry for 27 years and have been a federal work for 15 years) and still keep working for the federal government? I would like to work until I am 66 to get a higher amount of retirement from the federal government. I realize I would have to pay taxes on the Social Security since I would be making more than what is allowed and it is considered income and I would get a reduced amount for the…

Q. I am eligible for a 30-year retirement in July at age 50. If I do not get another job, I am eligible for a special retirement supplement due to the mandatory early retirement that federal law officers must take. If I don’t work for, say, six months and then get a job in the private sector and work two years, or if I get a job immediately upon retirement and only work a couple of years, will I still be eligible for the supplement after leaving the private sector?

Q. I noticed you can retire during a reduction in force at below the minimum retirement age with 25 years of service. However, I’ve also read that those people are not entitled to the special retirement supplement since they are below MRA. Can they be paid the supplement once they reach MRA, even though previously retired?

Q. I am looking at retiring in January 2015. I will be 56 years old Oct. 15. I will have 30 years in as of Dec. 24. Waiting until the end of leave year to cash in all available annual leave. I am looking at cashing out my Thrift Savings Plan in a lump sum to pay off all debts. Will that income be considered part of earned income so that the special retirement supplement is reduced? If so, would it be in my interest to retire at the end of 2014 so that my annual leave hits that year…

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