Browsing: High-3

Q. Is locality calculated separately from base pay for retirement? Is locality also a high-3 calculation, or is it based on locality of location when you retire, or is it the locality where you earned your high-3 base pay? If my locality is reduced because base pay plus locality exceed the cap, is retirement annuity calculated from the capped number or full base pay and full locality?

Q. I retired on disability in 2000 after 24 years with USPS. A few year prior to that, when FERS was launched, I switched from CSRS to FERS. Now, in August of this year my disability retirement will convert to regular retirement. I understand the following will happen: 1. The additional 16 years I have been on retirement will be credited to my service. 2. All the time AFTER I switched to FERS will have the annuity calculated at 1.1 percent of my high-3 average per year. 3 All the time BEFORE my switch to FERS will be calculated under the…

Q. I’m a FERS employee and have three years before a full retirement. I have been detailing into an EAS 17 position for 120 days at a time with a two week separation each time due to contract rules. Will my higher detail base pay count toward my average high-3?

Q. I am 54 years old and have been working for the U.S. Postal Service for 22 years as a city carrier. Am I eligible for retirement? What percentage of my pay will I be able to receive? A. No, you aren’t eligible to retire now. However, you could resign from the government and apply for a deferred annuity under the MRA+10 provision. If you did, your annuity would be reduced by 5 percent for every year (5/12 percent per month) you were under age 60. Your annuity would be based on your high-3 and years of service as a FERS employee when you left.…

Q. I am 57 years old with 34 years of federal service, and I am under CSRS Offset. My agency offered the early buyout, but I turned it down. At that time, I was a GS-9/10. I recently received a GS-11, with hopes of retiring in three years. Does the high-3 apply if I was to retire prior to the three years?