Q. I’m a FERS employee with 27 years of service. I am 47 years old. If a Voluntary Early Retirement Authority is offered, at what age do I collect Social Security? Also, if a VERA is offered, would my pension be 1 percent per year for a total of 27 percent? Or are there penalties?
Browsing: FERS annuity computation
Q. I was hired as an Army Reserve technician in 2004. In 2007, I was hired and transferred to a Department of the Army civilian position and I am still employed in this status. Recently, I was told that I had the wrong retirement code (K) and that it was changed from K to N. As a result (and without notice), I am now having deductions from my FERS retirement, which at the rate the Defense Finance and Accounting Services have deducted so far, I expect it to be thousands of dollars. Other than stating that it was as a…
Q. I retired Dec. 31, 2011, at 58½ with 30 years and five months of federal service with the Defense Department. I am receiving a monthly special retirement supplement of $915 after taxes. I realize this will cease when I turn 62, and I will have to file for Social Security. Will I then receive this same amount from Social Security, or will it be my normal expected amount for age 62 (somewhere around $1,400, I believe)?
Q. If I retire after Jan. 1, 2014, I will receive 100 percent credit for my sick leave. What exactly does that add to a FERS employee versus a CSRS employee? For example, I am a CSRS employee who makes $60,000 high-3 with 30 years in and 2,087 hours of sick leave versus a FERS employee who has a high-3 of $60,000 with 30 years in and 2,087 hours of sick leave. What does the sick leave add financially to both?
Q. I am retired from the Army after 22 years and have worked as a federal employee for 13 years under FERS. Assuming I buy back my time, it is my understanding that I will have 35 years of total service. I have received the buyback calculation from my human resources department. Is it correct to assume that once I waive my military pension (which was 50 percent of my base pay x the number of years in service) my total retired pension will be based on 1 percent of my high-3 x 35 years service? And am I also…
Q. I worked for the federal government under CSRS from 1979 to 1989. When I left, I took out my money. I returned to federal service in 2011 and was erroneously placed in FERS. Now I have a decision to remain in FERS or the CSRS Offset. If I don’t pay back the money I owe and plan to retire in eight years at the age of 62, which is the better option for me?
Q. I started federal service May 12, 1986. I was told that I was tagged as CSRS Interim because I didn’t have five years of service prior to FERS being initiated in 1987. Is that the proper process, and where can I read about this?
Q. I know there is a government pension offset when receiving FERS disability retirement and Social Security disability benefits, but is there an offset when receiving regular federal retirement benefits and SSD benefits?
Q. I am a FERS employee with more than 25 years of service at 51 years of age. I am interested in retiring at this point and want to know how this will work. I have money under the Thrift Savings Plan and do not plan to draw any annuity until I reach my minimum retirement age. Will I be penalized for each year I did not work until the MRA? Will I be paid for the annual leave I have at the time of separation? How will this affect my ability to opt for medical insurance when I reach…
Q. Is the Social Security benefit that the federal retiree receives from a spouse’s nonfederal work history reduced in any way because the retiree is receiving a federal pension?