Q. I am a federal employee under FERS with 28 years of service. I understand that service credit for accrued sick leave can only be credited once you’ve qualified for retirement, which, in my case, would be 30 years. Does this apply if you receive a Voluntary Early Retirement Authority before then? Would my sick leave be credited, or would I lose it under this scenario?
Browsing: FERS annuity computation
Q. I thought I had read that a FERS transferee going out under Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay would not rate the special retirement supplement. I do not recall where I saw this and am looking for verification if I may have misread something. Is there a special situation being a FERS transferee that would keep one from getting the supplement?
Q. I will be 65 on Dec. 2 and will then be eligible for Medicare. I have Blue Cross/Blue Shield now, and premiums are taken out of my FERS annuity check. I would like to continue to carry BC/BS via Part B when I am eligible for Medicare. Do I need to contact BC/BS to let them know this? Can you help me with a contact phone number? Also, I understand my insurance premiums will come out of my Social Security payment rather than my FERS annuity payment. This should cause my FERS annuity to go up (since insurance premiums…
Q. I will be retiring at the end of December or beginning of January 2014, depending on your answer. I am a FERS employee who will have about eight years, so my annuity will be small (I retired from the Air Force with 25 years of service). I am thinking it would be better for me to retire Jan. 11, 2014, instead of Dec. 31, 2013, because a full paycheck will be quite a bit more than the monthly annuity, so it would be worth skipping an annuity payment in favor of a paycheck. I just want to make sure…
Q. I’m a FERS employee. If I take the Voluntary Early Retirement Authority that is offered now at the age of 56 with 25 years, will I be penalized anyway?
Q. I am 56 with eight years of service. With a reduction in force, would I qualify for a deferred annuity at 62? If so, is the formula still .01 percent of high-3 x eight years? Also, what about my health insurance? Would this be lost, or could I reapply at 62?
Q. I am a FERS employee offered a voluntary early retirement date of Jan. 31, 2014 (annuity effective date Feb. 1) I am eligible for optional retirement on Feb. 3, 2014, at age 56 with more than 31 years (annuity effective date March 1). Would taking the VERA a few days earlier affect my annuity amount? Which would be more beneficial?
Q. At age 58, I will have a combination of civil service (FERS) with a military service deposit that equals 30 years. Is the portion of service gained through the military service deposit considered FERS earnings when the special retirement supplement is calculated?
Q. I work for the Defense Department with 16 years of service. If the rumored next round of Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay occurs (and I should be 57 by then), can I take the VSIP, not pull my FERS retirement contributions and apply for the discontinued service retirement at 62? If yes, does my sick leave still count for calculating the retirement amount? Is giving up the DSR a requirement for VSIP?
Q. In 1984, I “bought back” my four years of military time and have added 38 years of federal service to that. I plan on retiring in 11 months as a combined CSRS and FERS. When I paid for my military time, I paid $__X___ back, plus interest. Someone retired here this month and paid his military time with no interest, a difference of $3,000. Do you no longer have to pay interest? Can I get mine back?