Q. I have 10 years in FERS, and I’m 60. I am being offered a Voluntary Separation Incentive Payment in August. I turn 61 in October. It is my understanding that my annuity be reduced by 5 percent for each year I’m under 62. Since I am turning 61 in October, will they only reduce my annuity by 5 percent instead of 10 percent? Lastly, when I turn 62, will my annuity reduction stop and go back to what I would have received at the age of 62?
Browsing: FERS annuity computation
Q. I have two employees that do not want to leave their spouses a survivor annuity, without the spouse signing anything. One is CSRS and the other is FERS. The FERS employee has been separated for two years now and does not want to leave him anything, since she is not legally separated. But if she was legally separated, does she have to leave him anything?
Q. I am currently a federal employee and retired from the Army. I am receiving my military retirement (annuity). I recently paid a military deposit under FERS to position myself to waive my military retirement and add it to my federal time before I retire. I will also have approximately 45 years of combined service at the conclusion of my career. Am I eligible for CSRS or just FERS? The reason I now ask is because my new service computation date is now May 1982.
Q. I’m a federal firefighter required to retire from my job after 34 years. I’m 57 years old and under FERS. I will receive the special retirement supplement along with my annuity. What is the dollar threshold amount where they start reducing the supplement?
Q. I am a FERS retiree. My total retirement contribution that’s been taxed is $16,000. I understand this is averaged through my mortality and have a portion every month, tax free. Is there an option where I can take the total $16,000 and apply all in a given tax year as tax free even though that will eliminate the monthly, tax-free amount?