Q. I have been employed with the Postal Service since 1985 with three years of prior service in the D.C. government under CSRS. After 30 years of service, I received a notification informing me that the Postal Service was supposed to change my retirement plan to FERS in 1987 but did not. Now I have been forced to elect either CSRS Offset or FERS. I selected CSRS Offset, which added one year to my retirement date. If I retire at age 56, will my annuity still be the same, or do I have to work until 62 to receive full…
Browsing: FERS annuity computation
Q. My husband was still employed by civil service aboard New River Air Station, N.C., when he passed away. I was told by human resources in Norfolk, Va., that I could buy into survivor annuity (FERS). My husband was short three years of retirement, and I can make a deposit of $12,522.36 to the Defense Finance and Accounting Service to qualify for survivor annuity through FERS, and I would receive $783 a month. DFAS has calculated what he earned during his military career. I am receiving $1,215 a month in Dependency and Indemnity Compensation. I am confused because the Norfolk…
Q. I plan to retire in June 2015, at which time I’ll be age 62 and have 38 years of government service. I was covered by CSRS for the first 21 years and switched to FERS in 1998. I will have both CSRS and FERS components to my pension. The FERS portion is calculated at 1 percent per year on the high-3 salary, with an additional 0.1 percent per year for those age 62 with 20 years of service. I already have well over 20 years of service, but only 17 years will be in the FERS portion. Will the…
Q. I was employed 19 years as a law enforcement officer in a 6(c) position under FERS. My agency closed my post of duty and attempted to locate me some 300 miles away. It should be noted that the agency and agents had a mobility agreement in place. Due to family issues, I resigned. After a couple of years, I returned to an LEO position. However, it is not designated as a 6(c) position. I am getting ready to retire. Because of the closing of my duty station, and a relocation outside my commuting area, am I still entitled to…
Q. I have been hearing impaired all my life. My audiograms (hearing tests) throughout the years have shown a progressive decrease in my hearing. My recent last audiogram showed that my hearing is so bad I automatically meet the qualifications for Social Security Disability Insurance. I have worked in a federal prison for nine years and have feared for my safety for quite a while, but am the sole bread winner of my family and need the money to survive. As a requirement for FERS disability retirement, I’m supposed to apply for SSDI also. On one hand, I automatically qualify,…
Q. I want to retire at age 60 with 16 years of service under FERS. Will I be able to collect my pension even if there is a penalty? What about my annuity?
Q. If I retire under FERS before I reach age 62 and get special retirement supplement, does my spouse’s income affect the SRS?
Q. I am a federal law enforcement officer under FERS. The minimum retirement age in my field is 50 or 25 years at any time. We collect 1.7 percent per year for the first 20 years. At 10 years, we can apply for a deferred annuity at the MRA. I am 34 and considering resigning early to pursue opportunities in the private sector. I will have 10 years in service soon. Is there an advantage to waiting until I have 10 years? Assuming I apply at 50 and have accumulated 10 years of service accruing 1.7 percent per year, what…
Q. I am a federal employee with 33 years and five months of cumulative service — 12 years and four months of that service is attributable to active-duty military time that I had purchased back during my first few years of civilian service. When computing my FERS retirement benefit, does the government consider that 12 years and four months for purposes of calculating the Social Security Offset (if I retire prior to age 62)? No one in my agency’s HR can confirm this.
Q. I am a special provision FERS employee and, with my credited military service, I will have 34 years of creditable service for the annuity computation. With 1.7 percent per year for the first 20 years and 1 percent per year 20 years, my calculation has: 20 years x 1.7 = 34 percent, 14 years x 1 percent = 14 percent. 34 percent + 14 percent = 48 percent of my high-3. Is there a cap on the FERS annuity calculation like there is on CSRS?