Browsing: FERS

Q. I was born in 1967. I’m covered by FERS and want to retire at the age of 55 when I’ll have 34 years of federal service. Will I take a huge hit in my annuity? A. Because you were born in 1967, your minimum retirement age is 56 years and 6 months. Although you wouldn’t be eligible to retire, you could resign and apply for a deferred annuity when you reach your MRA. However, if you did that, you wouldn’t be eligible to receive the special retirement supplement nor would you be able to re-enroll in either the FEHB or…

Q. I was born in 1967. I’m covered by FERS and want to retire at the age of 55 when I’ll have 34 years of federal service. Will I take a huge hit in my annuity? A. Because you were born in 1967, your minimum retirement age is 56 years and 6 months. Although you wouldn’t be eligible to retire, you could resign and apply for a deferred annuity when you reach your MRA. However, if you did that, you wouldn’t be eligible to receive the special retirement supplement, nor would you be able to re-enroll in either the FEHB…

Q. I’m a 58-year-old FERS retiree who worked as a GS-1811. Can I be rehired as a GS-391? A. Yes, if you meet the qualification requirements. However, as a rule the salary of your new position would be reduced by the amount of your annuity. On top of that, your special retirement supplement would be reduced or stopped because of the annual Social Security earnings limitation. In 2019, that limit is $17,640.

Q. I’ve reached my minimum retirement age and have 29 years under FERS. I have more than 2,400 hours of sick leave. Will the sick leave time be added to my actual service and make me eligible to retire? A. No, it won’t. Sick leave is only added after you have reached the right combination of years and service to retire on an immediate annuity.

Q. I am a reserve solder with 29 years of active duty and have six years until I am eligible for mandatory retirement. Upon completion of my current deployment, I will likely go back to a government civilian job. My understanding is that I can buy back all my years and do an additional 5-plus years of civilian service and retire with both checks intact. I can collect my military retirement when eligible and still work in a civilian capacity until I completely retire from the workforce. Is that correct? A. Only active duty service which meets the definitions found…

Q. I’m a FERS employee and plan to retire at minimum retirement age, which is 56. However, I’ll have fewer than 30 years of service. Is the 5 percent per year penalty based on each year short of 30 years, or is it based on each year short of age 62? A. The MRA+10 provision allows FERS employees to retire at their minimum retirement age with fewer than 30 years of service. If you retire under that provision, your annuity will be reduced by 5 percent for every year (or 5/12 of 1 percent per month) that you are under…

Q. I have been working under FERS. I plan to retire in 13 years at age 67. Before coming to work for the government, I worked in the private sector and paid into the Social Security system for over 30 years. Will I receive both a full FERS and a full Social Security benefit when I retire? A. Yes. You’ll receive a FERS annuity based on your years of FERS-covered employment and, because you will have reached your full Social Security retirement age, a Social Security benefit based on all your Social Security-covered employment.

Q. I’m a FERS employee who submitted the paperwork to retire. Now I’m having second thoughts. Can I cancel my FERS retirement application? A. Unless your agency has a valid reason for turning you down, it must accept your request to withdraw your retirement application. If it does, it must provide that reason in writing. Valid reasons for turning down your request would include 1) the fact that someone has already been selected to fill your position or 2) your position is being abolished and no other position exists at your pay and/or grade in the local commuting area for…

Q. I’m retiring with four months of sick leave, bringing my total time in FERS to 32 years, 1 month at age 65. In the interest of increasing final annuity, I have been using annual leave, rather than sick leave, for medical appointments and when ill. In retrospect, it seems I did not accomplish much, and that using sick leave as intended and preserving annual leave to increase lump sum payout might have been a better strategy. Correct? A. Maybe, maybe not. There are too many variables. While unused annual leave will be paid out at the hourly rate you…

1 2 3 4 23