Q. I am in FERS with a start date of July 2010. Legislative branch pension is 1.7 percent for first 20 years. Can I leave the legislative branch and go to the executive branch after three years and still receive the 1.7 percent pension, and finish the remaining two years of vesting in FERS at the 1.0 percent? Can I return to the legislative branch later in my career and receive the 1.7 percent (up to 20 years) since my start date was prior to the law change in 2013? Can I leave the legislative branch, but move to the…
Browsing: FERS annuity computation
Q. I was employed by the Department of the Air Force from 1987 to 1991 as a social worker at Torrejon Air Base, Spain. I left there and was employed by the Department of the Air Force from 1992 to 1996 as a social worker. I left federal employment until April, when I started working for the Veterans Affairs Department. Do I get to count the Department of the Air Force years toward leave status and retirement? I have an SF 50 that has my service computation date as Aug. 12, 1987.
Q. I was honorably discharged from the Air Force in September 1992 under the Voluntary Separation Incentive program. I had 16½ years of service. I have received VSI payments each year since, and am due about 12 more payments. In May 2000, I went to work for the Department of Labor under FERS. At the end of this year, I will have 13½ years of civilian service. I will also be 56 years old, my minimum retirement age, by the end of the year. Can I buy back my military time and retire at the end of the year with…
Q. I’ll have 30 years in when I reach my minimum retirement age on Nov. 30 under FERS. I was planning to retire on Jan. 11, 2014 so I could apply 100 percent of my sick leave toward service time. No Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay offer was made this year. What would the pros and cons be for me if I were to make the offer to go from a GS 12-9 to a GS 9-5 beyond making less money? I’d consider 27 hours a week working three nine-hour days.
Q. I have just been notified that I am eligible for the Voluntary Early Retirement Authority being offered by my agency. I am 57 and have 23 years of service. I have “roughed” my special retirement supplement to $700 a month, and the FERS annuity would be $1,400 a month, for a total of approximately $2,100 a month. What amount would be taxable (federal and Social Security), and what would the taxes be, assuming that would be my only income?
Q. I have 11 years as an 1811 and am considering moving into a noncovered position. I know I will ultimately have to do 30 years, but how will my 11 years as an 1811 (6c covered) be calculated at that 30-year mark? Will the first 11 years be counted at 1.7 percent and the remaining 19 years a 1 percent per year?
Q. I am a full-time employee of the Department of Veterans Affairs. Prior to becoming full time, I was a term employee for two years. After my term position was terminated, I was paid my final pay along with unused leave. I was hired approximately four months later in a full-time position but in a different area. Does my time as a term employee count toward my retirement, or is this time lost?
Q. In 1999, I voluntarily switched from CSRS to FERS after 22 years of CSRS service. Since 1999, I have been covered under FERS and paying Social Security. I plan to retire this year at age 67 after 36 years of service. I’ll have accumulated 54 calendar quarters of substantial and maximum earnings. At the time I elected to transfer from CSRS to FERS coverage, I was told that I’ll be exempt from windfall elimination provision deduction from Social Security benefits and that my spousal Social Security benefits will not be affected by the government pension offset. Is this correct?
Q. I am a FERS employee, 60 years old with 19 years and six months years of service. I have 2,000 hours of sick leave, which I know until Jan. 1 I will only receive half-credit. I have an opportunity for a position outside of federal government that I must take now or I lose it. I also know if I take my annuity now, I will be penalized 5.5 percent for every year I am under age 62. If I postpone my annuity to age 62, do my years of service become 20 years because six months of service…
Q. I have approximately 24 years of FERS service (USDA, Forest Service) and have approximately six years (10 seasons) of temp/seasonal time, all of which occurred before 1989. I have paid a deposit for all of my time as a federal temp/seasonal employee. Will the special retirement supplement be calculated only on my 24 years of FERS service? Or, because I made the deposit for all of my seasonal time, will it be based on all 30 years of my federal service? I am hoping to retire at the end of the year. I will have over 30 years and…