Q. I have 22 years for FERS service but resigned at age 42. 1. When will I be eligible for my annuity? 2. Can I begin taking money earlier? If so, what is the penalty? 3. Do I still calculate my benefits as 22 percent of my high-3, provided I begin withdrawals at age 62?
Browsing: FERS annuity computation
Q. I am 59 with 29 years of service under FERS. I have a service computation date of Dec. 17, 1983, due to other part-time work with the government. I started with the government in May 1984 on this job. Am I allowed to buy back and make deposits toward this time? Is there any way I can change over to CSRS? I don’t remember begin given a choice.
Q. I worked for the Postal Service as a full time letter carrier for 23 years. I left the Postal Service in 2008. I would like to know what the value of the retirement account is if I took the cash out now in a lump sum?
Q. I served 26 years with the Air Force and 2½ as a GS-07 under FERS. How do I get credit for the military time?
Q. Are annuity payments received during retirement taxed? In other words, does the formula provided for calculating annuity computation determine the gross payment?
Q. As you know, as of the first of next year, FERS people get 100 percent of their unused sick leave, putting us on same footing as CSRS. Problem is, we’re not CSRS, so we don’t know how they get that. We hear it’s tacked on to end of service, but then we hear retirement date is retirement date, not that plus unused sick leave. So, do we get a lump sum or just keep getting paid for that time as if we were still here?
Q. I am a FERS employee with more than 24 years of service (will likely retire at my minimum retirement age in 10 years). I served four years of active-duty military, then transferred to the Guard, where I still serve (more than 26 years of total service). I bought back my active military service time to increase my length of service under FERS (and ultimately increase my FERS annuity). Since my active military service will be used in my FERS retirement calculation, can it also be used in my Guard retirement computation (it would greatly increase my number of retirement…
Q. I worked for the Army Corps of Engineers for four years then took a job with the state of Wisconsin. At that time, I had to leave my retirement in the federal system and as far as I know, it is still there. Or is it? I’m interested in using those years to add to my retirement with Wisconsin. Would that transfer to the state without my having to buy them, or do I still have to buy those years back even though I never took them out?
Q. I’m 49 years old and I have 18 years in with the post office. I’m under FERS. I want to get in my 20 years and then I want to leave the post office and open up a catering business. When I leave the post office, will I be able to draw on my 20 years at retirement age of 62 or will I lose the time I have in and end up with nothing for leaving early? If I get anything, how will I know how much I can expect to get?
Q. I am 73 years old and working with veterans benefits. My health and medical issues are forcing me to investigate potential retirement options. I have four years of civilian federal service under FERS and also have four years of military service. I draw nondisability Social Security. What retirement options do I have available?