Q. I am planning to retire at the end of pay period 26, which is Jan. 10, 2015. I will have 13 years, 11 months and 20 days of service. I will be 10 days short of 14 years of service. If I have 80 hours of unused sick leave, will that cover the 10 days to get 14 years of service?
Browsing: FERS annuity computation
Q. I have approximately five-plus years of active military service, and approximately four years of civilian time. If I buy back my military time now and later decide not to retire from the federal civil service, can I receive that money back?
Q. I retired from the Postal Service last year and, when I received my CSA 1099R, it has my FERS annuity and my special retirement supplement taxable amount combined. If the supplement is taxed like Social Security, which is different from my FERS annuity, why are they combined on my CSA 1099R, and how do I separate the two on my tax Form 1040A? My gross income will be over $44,000 and, from what I have been reading, at that amount, I should only be taxed on 85 percent of my supplement. Is this correct?
Q. When I was hired into civil service on May 8, 1989, human resources calculated my service computation date as Aug. 6, 1971, based upon some military time. (I was in the Air Force, serving from Dec. 3, 1969, until Sept. 4, 1987, receiving an honorable discharge.) Now that I am approaching FERS retirement, I need to accurately calculate an accurate service time. My current salary (high-3) is approximately $89,450. I know that FERS retirement benefits are only one part (of three) that I will be eligible for — the others being Social Security and the Thrift Savings Plan, but…
Q. I retired, I believe, under the MRA + 10 program, at the end of my member’s term. I have a total of 13 + years with the House of Representatives. I get a small annuity. I may have an opportunity to return to full-time service with the Department of Homeland Security. How will that affect my retirement? I assume the annuity would go away but am not sure how the health care would be handled. And I have been retired almost five years now. Will this new position accrue along with my previous 13 (since they were with the…
Q. I will be 70 years old in October 2015. I understand if I wait to collect Social Security benefits until that time, my monthly benefit will approximate $3,030. As of August 2010, I started working for the federal government as a GS-13. I plan on retiring under FERS in September 2015, at which time I will have completed 60 months of continuous civilian service. I understand that my monthly FERS annuity will approximate $500. Is there any offset to either Social Security or FERS monthly annuity benefits based on receiving both of these benefits simultaneously? Assuming continuation of excellent…
Q. I am 52 and I want to retire when I reach 57. I started my career with the Postal Service in 1993, which gives me 20 years. I am in the Air Force Reserve with 30 years (four years and six months active) and I also have nine months of deployment on active duty. Will I be able to buy back the full five years and three months so I can meet the 30-year requirement at age 57? How is the special retirement supplement calculated under age 62?
Q. I am a retired FERS annuitant and returned to work on a full-time continuous basis for one year and 25 days. During this time, my salary was offset by the amount of my annuity. I worked for the Veterans Affairs Department, and my human resources submitted the supplemental annuity application to the Office of Personnel Management in December 2012. After waiting for eight months, I finally received a letter from OPM stating, “To be eligible for a supplemental annuity benefit, you needed to be re-employed at least two years.” All the information I have been able to find indicates…
Q. I am covered by FERS. At my minimum retirement age of 56, I will have 28 years of federal service and approximately one year’s worth of unused sick leave. My understanding is that if I retire at that point, my annuity will be reduced by 35 percent – 5 percent for every year I am under 62. Is there any way I can avoid this age reduction to my annuity other than: 1. Continuing in federal service until I am 58, at which point I will have 30 years of service without counting any unused sick leave, or 2.…
Q. I have two questions about how buying back creditable military service affects the percentage multiplier toward a FERS pension (while it is my intention to work 20 years civil service, plus buying back creditable military service, how the multiplier normally should be implemented is important to me because I am unsure if I will be able to achieve 20 years of civil service alone due to health issues; thus, a general understanding through your column can inform my retirement planning). First, does total service including a military creditable service buyback, meaning I will qualify for the 1.1 percent pension…