Browsing: High-3

Q. I am in civil service with 40 years and 9 months, including two years in the military for which I’ve made a deposit. I also have one year and four months of unused sick leave. Do I qualify for the maximum 80 percent annuity? I now have allotments taken out of my pay stubs. When I retire, will they remain the same? I hope so because I don’t want them to change. If I get a full-time job in the private sector, will that affect my annuity? I’m eligible for Social Security. I’ve heard that if you work for only 180 days…

Q. I am in my 11th year of federal service under FERS with the Department of Veterans Affairs. I plan to take a break from federal service and accept a private sector job for at least two years; but I eventually plan to return to federal employment in the future. 1. Can I leave my TSP account unchanged for the interim, or will I have to roll it over elsewhere? 2. Once I return to a federal job, will I have to have at least five continuous years yet again to be eligible to continue my FEHB coverage when I retire? 3.…

Q. I am under FERS disability retirement with 23 years of service at age 49. I was told by the Office of Personnel Management that at age 62, my 23 years would be bumped up to 32 years — the difference between when I left and when I turn 62. So would it bump up my FERS retirement at age 62? Is this correct that it would be reconfigured at a higher annuity?

Q. I work for the U.S. Postal service and I’m applying for disability retirement. Re: the high 3 year average. ,y pay rate is $58,350 for 2017. For the last 3 or 4 years I’ve been using LWOP a lot and my yearly income has hovered around $40,000 a year. Do they use my pay rate of $58,350 (it was around $58,000 for 3 consecutive years) or do they use the $40,000 figure to arrive at the 3 year average? In other words, would LWOP effect my disability retirement income? Thanks for any help.

Q. I am a civil service employee that was involuntarily retired from the Department of Defense in 1997 due to base closure. I received a VSIP/VERA in the amount of $25,000. At the time I was 47 years old with 23 years plus four years of military time, which was credited toward retirement. Three months later I was hired by the U.S. Postal Service. I have been there for a little more than 19 years now. I am 66 years old now and am considering retirement this year. Will I be allowed to retire with the total years of service or…

Q. Is the cost of the spousal benefit I elect on the day I retire (approximately 10 percent of my pension) set in stone? Or do I have to pay more each year because the value of my pension is going up due to the cost-of-living adjustment (COLA)? (Is it 10 percent of retirement pay on Day 1 and that amount is paid forever, or 10 percent of my pension as it goes up due to COLA? Is the value of my spousal benefit based on 55 percent of the amount of my high-3 pay at retirement or is it 55 percent of my pension at…

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