Q. My husband will retire next year under FERS and he is interested in working seasonally for the National Park Service. I realize his salary would likely be offset by the amount of his annuity. Is there any problem with doing this year after year? (e.g., work seasonally for four to six months, then be unemployed the rest of the year). Would it affect our federal benefits carried into retirement (e.g., FEHB, life insurance)?
Browsing: FERS annuity computation
Q. I have my minimum retirement age and 30 years of service. If I retire now (buyout), will my retirement check be recalculated when I turn 62 (1.1 percent vs. 1.0 (high-3 years) x years of service = retirement check)?
Q. My wife is nine years older than me and will begin apply for Social Security when she turns 62. I will retire (FERS) four years after that at age 56. At age 62, will my Social Security benefits be reduced because my wife is already on Social Security?
Q. I am starting to look seriously at retirement and have noticed the articles on the long wait for pensions to be processed and the fact that accuracy dropped to 90.6 percent in the first quarter of 2013. Once the Office of Personnel Management has processed my pension, how do I verify it was done correctly? If it takes them a year, it must be a very complicated system. Also, since interim payments may be only half what is owed, how is that back amount paid?
Q. I plan to work until my minimum retirement age, which is in eight years. I work part time (80 percent of the time) and will have worked for the government for 35 years (1986-2021). But my total service computation years will only be 27 when I reach my MRA. Will I be eligible for the MRA plus 30 because I worked for 35 years or only the MRA plus 10 (with the significant penalty) because I worked 27 years based on the service computation?
Q. I am a FERS employee with eight years of federal service. I plan to end my employment next June with nine years of service at the age of 61½ years. I hope to apply for a deferred retirement when I turn 62 in January 2015 and want to make sure I am eligible. I also assume that the computation of my annuity is done using the high-3 pay figure x roughly 9 percent?
Q. If I enter into the phased retirement at 60 and retire at 62, will my pension multiplier be 1.0 or 1.1?
Q. I will turn age 62 on Aug. 29. I have 4½ years on my FERS disability with 24½ years of service. Will FERS automatically recompute this, or do I have to notify them of my pending birthday? Also, since my birthday is on the 29th day of the month, I read that FERS would retire me out not on my birthday but on the day before I turn age 62, which would be Aug. 28? I know how to figure all of this according to my high-3 year earnings. However, the part that I cannot compute on my own…
Q. When calculating retirement, are the total years of service multiplied by 1.1 percent or 1 percent?
Q. I am a FERS employee. On Aug. 31, 2014, I will meet my minimum retirement age of 56 with 30 years in. If my agency offers Voluntary Separation Incentive Pay three to four months before the Aug. 31 date, will my annuity still be penalized because I did not reach the full 30-year mark? Or would I still get the full 30-year annuity and the Social Security gap pay? If not, what would be the reason for any FERS employee to take an early-out if there is any type of penalization?