Browsing: Re-enrollment

Q. I’m a 24-year veteran of the Postal Service at the age of 58. Due to a recommended fourth surgery, I am considering resigning from the Postal Service later this year but want to postpone receiving my annuity until I’m 60-years-old (about 17 months from now) so (according to a human resources representative) I can avoid the 5 percent reduction per year as I would have reached the 60/20 retirement plateau. I realize I would not be eligible for the “special supplement,” but my wish is to work in the private sector and delay receiving social security until my mid-60s. My finances are in order to do this. So…

Q. I was a Miltec for the army and I took a postponed retirement in 2008. Up to that point I had medical coverage under the FEHB program for five years. I have reentered Miltec status and have medical coverage, but will retire before I have five years of medical coverage for this period of service. Will I still have medical coverage after retirement or will I lose it because I didn’t have medical coverage for this period of service for 5 consecutive years?

Q. I am a federal employee (FERS employee from January 1988 to the present) who will likely be leaving federal employment for a private sector position in a different city. What happens to the following: 1. Can I either leave my money in the TSP account or roll it over; in any case, I am not touching the balance until I retire. 2. Am I correct that my retirement annuity freezes until I actually retire and that it would be based on the following calculation — years of service (.26) x the average of the high-3 annual salary? 3. Do…

Q. I have been approved for Federal Retirement Disability after having applied for it almost 15 months ago. I am receiving interim payments. I was separated from my federal position before I applied and could not afford to pay for COBRA benefits during the time I waited to be approved. When could I anticipate receiving my health insurance benefits back? How will they calculate my portion of the health insurance premium?

Q. This is a two part question. I’m a FERS employee with a minimum retirement age of 56 1/2. I would like to retire at my MRA if possible but want to make sure I understand the penalties and rules. First, I will be about 1 1/2 years short of 30 years with the government at age 56 1/2. It’s my understanding that I can still retire at that age but can postpone receiving an annuity to avoid the 5 percent per year penalty if I don’t take benefits until age 60. Is this correct? Second, if I decide to…

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