In my last column I wrote about the calendar year 2015 changes in the dollar amounts or percentages affecting your pay (1 percent), cost-of-living adjustments for eligible retirees, survivors and Social Security beneficiaries (1.7 percent), and the Social Security earnings limit ($15,720). In this one, I’ll describe the calendar year 2015 changes affecting Medicare, death benefits and children’s benefits. Medicare At age 65, you’ll be eligible for Medicare Part A (hospital insurance) at no cost to you. If you are no longer working, it’s free. That’s because you already paid for that benefit through payroll deductions. You’ll still be entitled…
Browsing: FERS annuity computation
Q. I am a FERS employee and will have 24 years of service on July 7. I will be 60 on July 18. Can I qualify for the OPM (FERS) supplement if I retire this year?
Q. If I were to take a VERA offered by my agency, I would have 29 years of service and be 54 years old. At what age would I receive the FERS supplement — 56 or 60?
Q. My assumed High-3 average salary is $80,163 (age 66) with a monthly annuity of $2,314.00; my social security benefit at age 67 is $2,377. Does this mean when I retire under the FERS system I will receive combination of both $4,691 or is there some sort of offset I am not aware of? I am confused as it relates to FERS. Please help me understand.
Q. I’ve been retired for five years as a federal law enforcement under FERS (retired at age 53). I am considering applying for a different federal job in an entirely different function/department. The starting pay is considerably less than I made upon retirement, but is right in line with my current skill set. Is there any way I can work in such a position without decreasing my existing retirement pay (even to some minimal degree – say 50%)?
There’s a lot of confusion about what happens to your unused sick leave when you retire. In short, the more sick leave you have, the bigger your annuity will be. But before I get into how much bigger and how that’s done, I want to share a little history with you. Once upon a time, Civil Service Retirement System employees didn’t get any credit for their unused sick leave when they retired. When the Congress discovered that employees nearing retirement were burning off that leave at bonfire levels, the law was changed so that they could. However, when Federal Employees…
Q. I am a retired FERS employee — 59 years old, with 25 years of federal service. I retired two years ago under VERA VSIP. My employer (Defense Department) was reducing the workforce due to budget cuts and abolished my job. I paid into Social Security for 42 years. I have some health issues and am considering applying for Social Security disability. My question is: Will Social Security disability retirement affect my FERS annuity?
Q. I have 13 years as a federal worker under FERS at GS 10. I left federal service at age 48. Am eligible to collect any type of federal retirement and how does age play a role?
Q. Am I eligible to receive the FERS annuity supplement at age 60? I resigned federal service at age 52 with more than 20 years of service. Would this FERS annuity supplement apply to my situation or only to current employees?
Q. I have two years of temporary services. What are the pros and cons of buying back the temporary time? I am approaching my 27th year of government services in June. Under FERS, at what age can I retire and get my TSP monies without being penalized?