Q. I resigned from the Postal Service after 10-plus years on July 31, 2012, at age 54 and received half of the $20,000 separation bonus in December 2012 and am expecting the other half this December. Do I qualify at age 62 for FERS? My husband also works for the Postal Service but is not planning to retire until age 62. If he should die before me (and vice versa), will I, as his wife, receive his FERS annuity and mine? How is this determined? Or will the surviving spouse only receive a portion of the deceased spouse’s monthly annuity?
Browsing: FERS annuity computation
Q. I am 52 years old and have 25 years of federal service to include my 13 years of military time, which I bought back. I am under FERS. 1. Do I qualify for the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay, if offered? 2. Would I take a cut in retirement benefits?
Q. I have 26 years of federal employment with age. 26 x 1.1 = 28.6. How is this treated for retirement? Will the Postal Service drop 0.6? Or how do I calculate the remainder? What must I do to reach a whole number?
Q. I am a retired Postal Service FERS employee. I took the early-out in February with reduced pension. I am going to marry a Postal Service CSRS employee retired on postal disability. He has little Social Security time, which he is not collecting. We would like to know if one of us will lose our postal pension. If so, how much and why?
It’s easy to make mistakes when you are planning to retire. Some of the biggest mistakes apply to all employees; a few apply only to CSRS or FERS retirees. All can be costly. Here they are and what you can do to avoid them: Retiring on the spur of the moment. It can be disastrous, for two reasons. First, if you hand in your retirement application at the last minute, it may contain errors that delay processing or even cause it to be rejected. Second, decisions made in haste often come back to bite you. Once committed to a course…
When it comes to retirement, planning is everything. If possible, it should begin at least one year ahead of the date you have set to retire. However, events can conspire to force a quick retirement decision, such as the offer of a “buyout” or a RIF. In those cases, use whatever time you have to plan ahead. Even a little time, wisely spent, can produce a big payoff. Here’s a checklist for you to follow: * Sign up for a preretirement counseling seminar at your agency. If your organization doesn’t have one at a convenient time (or offer one at…
Q. I am 55 years old and have 18 years of active duty and 13 years of Army Reserve duty for a total of 31 retirement years in the Army Reserve. I am eligible to collect my Army Reserve pension in January. This is based on the Defense Authorization Act of January 2008, which allows a 90-day reduction of age from age 60 — for every 90 days of active duty in the support of the war on terror. I have met that threshold. I would like to go to work for the federal government with a projected start date of February…
Q. I am an employee under FERS. How will my approximately 700 hours of unused sick leave count toward my total service when I retire in 2014? My service computation date is March 3, 1994, and I will be 62 years old when I plan to retire in March. If I retire Jan. 10, will my 700 hours of unused sick hours count toward my desired target of 20+ years of service, or must I wait until March 3 to hit the 20-year threshold?
Q. After working for the Postal Service for 20 years, I left service in 2004. I started as an RCR in 1984, and later became an RCA. In 1995, I became a rural carrier full time and was in FERS for nine years. I heard that I can buy more years for my retirement calculations. I turn 62 in December. How do I find out what buying some years will cost, and what forms will I need to have everything ready for December?
Q. Do you know if I will have to pay Arizona income taxes on my FERS retirement benefit (Postal Service)? I am not disabled. I know I am exempt from federal income tax here in Arizona.