Q. I am a FERS employee and plan on retiring March 31, 2014. Can you provide any guidance on whether this would be a good date to retire, or do you advise earlier in the year?
Browsing: FERS annuity computation
Q. If my estimate states I will have six months and 16 days of sick leave when I retire in March, will I lose those 16 days? I was under the impression that your sick leave was figured in 30-day increments.
Q. I turn 60 on Jan. 1, 2015. I am a FERS employee who will have 20 years creditable service in January of 2014. If I retire Dec. 13, 2014 (the end of a pay period) do I understand correctly that my Federal Employees Health Benefits and Federal Employees Group Life Insurance coverage will be extended for 31 days at no cost to me? I plan on postponing my annuity receipt until Jan. 1 (when I turn 60) to avoid the under-62 penalty. Also, do I understand correctly that since my postponed annuity date will be Jan. 1 that my…
Q. I joined the military Sept. 12, 1978, and retired Oct. 1, 2008, with just over 30 years of active military service (no broken time). I began working for the federal government under FERS on Jan. 4, 2009. I’ve been told that I can resign after five years of government service (Jan. 3, 2014) and collect retirement benefits from the federal government once I reach the age of 62. Is that correct? If I have 40 hours of annual leave and 40 hours of sick leave, what is the earliest I can retire? Would it be two weeks prior to…
Q. My office has requested the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. With the government shutdown, there has been a delay in the approval process. My position is one within the organization that has been approved for VSIP once the authority is received. I am a FERS employee, over 50, with 26 years of creditable service. I plan to exercise the early-out authority once received, after Jan. 1, 2014, so that I will receive 100 percent sick leave credit toward my annuity. In the meantime, I applied for and have been offered a position in the private sector. They…
Q. I was employed as a primary law enforcement (6(c) covered position) for 14 years. I paid 1.7 percent into FERS during that time. I left that position and went to a noncovered position, which is a regular FERS retirement 1 percent. When I spoke to human resources, nobody could give me an answer to what happens to the 0.7 percent, which was taken out for 14 years. Granted, I was told that the 0.7 percent would be held until retirement in case I decided to go back to 6(c) covered position, and I would be credited the time and…
Q. I retired under FERS from the Bureau of Prisons with 22 years of service. I just turned 55 and have been hired by a private company for a job I am really looking forward to. When I turn 57 in September 2015, will I be required to reduce hours to stay below a specified salary threshold?
Q. I am looking at retiring in about a year. At that time, I will be 53 with 26 years of 6(c) coverage under FERS. I know I can retire right now, but will I be penalized for not waiting until I am 57 (mandatory retirement age)? Also, I understand I can earn as much as I can after retirement, but until what age? I had an officer tell me it was 57 and another said it was 62, the age when regular Social Security benefits are paid. I also believe that the Social Security benefits at 62 would be…
Q. Our Postal Service plant is going through a transfer of function. Jobs are being offered out of the area. If I refuse a position, I want to postpone my annuity until age 60 with more than 28 years of service. I have been told by human resources that if I postpone, I will not receive the special retirement supplement. Also, I will not continue Federal Employees Health Benefits during my postponement because of cost out of pocket but restart FEHB once my annuity begins at 60. Is this all possible?
Q. I am a 66-year-old FERS employee with 31 years of service and may be offered Voluntary Separation Incentive Pay in the next few weeks. 1. If I resign to get VSIP instead of retire, will I be eligible for unemployment benefits? 2. What is the timeline for date of departure once a decision is made? Next pay period? 30 days? Negotiable?