Q. In about 1996, my wife bought back eight years of active-duty Air Force time (for about $4,700). She got out in 1984. This gave her an adjusted service computation date of June 1978. She has more than 35 years now and is over age 55. A retirement adviser said that when she retires, she will get her FERS annuity. However, he said that because she bought back her military time (for $4,700), she will get an additional $320 per month, forever on top of her annuity. Is this correct?
Browsing: FERS annuity computation
Q. I’m a law enforcement officer and will be subject to mandatory retirement on Jan. 31, 2014. Is there any recourse to not using annual use-or-lose leave by the Jan. 11 cutoff and extending it until Jan. 31, thus cashing out the 240 hours plus what I’m earning in 2013 (approximately 448)?
Q. I have been a federal employee since 1993 with the Veterans Affairs Department. Since 9/11, I have had five years of being called on orders to support operations Enduring Freedom and Iraqi Freedom and contingency operations. While I was on leave without pay during these five years, do I still get retirement credit? Meaning it is like I never left federal service. (My retirement year would be 2023 with 30 years.) Also, can I buy these five years of war time credit toward my retirement, so in 2023 I will have a total of 35 years of service credit?
Q. I have more than 14 years of civil service. I’m retired military (20 years). I’m almost 58 years old. I fall under FERS. A while back, an email came down asking who would be interested in Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I replied in the affirmative. If they offer VERA/VSIP, my supervisor says he would not approve it for me, as he cannot afford to lose the position. My plan was to retire at 60, but if they offered VERA/VSIP I would go earlier. With talk of reductions in force, I’m concerned what course would be most…
Q. My husband is a government worker under FERS. He filed for Social Security disability and received his first check on Sept. 28 for August 2013. He was told that his FERS disability retirement of $3,114 would be reduced by 100 percent because he is receiving SSD. What does that mean? Would his SSD of $2,092 also be reduced? If he is awarded workers’ compensation, can he elect to receive that and stop the FERS disability and the Social Security disability?
Q. I am receiving a FERS disability retirement. I have 23 years of service (not counting time on disability) and will turn 50 in the coming months. I was on agency rolls until the award of my disability retirement, and then my agency separated me from service. If my disability annuity is terminated by the Office of Personnel Management, would I be considered involuntarily separated from federal service for purposes of qualifying for discontinued service retirement?
Q. If I retire at 56½ with 30 years of service and draw $4,000 a month from FERS, will it reduce my special retirement supplement or Social Security payment at age 62? In other words, since it is over the Social Security limit, does it count as income, or is it treated separately?
Q. I am 46 years old with 22 years in a 6(c) covered position. My agency removed me for failing to maintain my TS clearance (not for cause), which I continue to appeal via Merit Systems Protection Board. If I fail to be reinstated, can I work in the private sector and wait until age 50 to apply/receive my FERS special retirement? If no, can I resume federal employment and at age 50 apply/receive my FERS special retirement? Where can I find these guidelines? Is it an agency head approval situation?
Q. I am a re-employed FERS annuitant. My salary is being offset for my annuity. I need five years to be eligible for recomputation. Will being furloughed as a nonessential employee interrupt my five years?
In my last two columns, I described the procedures agencies are required to use when they conduct a reduction in force. In this column, I’ll focus on the options available to employees who are eligible to retire when facing a RIF. Immediate retirement If you have the right combination of age and service, you’ll be able to retire on an immediate annuity, even if you aren’t directly targeted by a RIF. Here are the rules, which are different for personnel under the Civil Service Retirement System and the Federal Employees Retirement System. The immediate retirement rules are different for special…