Q. I am thinking of retiring with in the six-month time frame. I am currently 70 years of age. My question is regarding life insurance. I am under CSRS.
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Q. Is there any benefit to postponing my retirement pension when I turn age 62? I am eligible then, as I will have the minimum five years’ creditable service through the Department of Veterans Affairs and four years’ active-duty Army. I plan to continue working in the private sector as long as possible. I would prefer to keep my government health insurance and life insurance, if possible.
There’s a new administration in town, and changes are already in motion. If you aren’t eligible to retire but want to leave government, you need to understand the consequences of your action, at least in terms of the benefits you’ve enjoyed as a federal employee.
Q. I am currently retired and age 63 with a 75 percent reduction of basic life insurance. Can I continue to pay for life insurance at age 65 and beyond? If so, how will this affect the value of my insurance coverage?
Q. I am a civil service, not FERS, retiree. I will be 66 years old on April 19, 2016. I read there is an open season starting for those who would like to increase their life insurance. Is this for active employees only? Is there any way I can increase my basic life insurance now?
Q. I have recently read an article that stated the following: The survivor of an individual who meets the definition of a FERS annuitant is not eligible for the FERS Basic Employee Death Benefit (BEDB), the BEDB is a lump sum payment made to the spouse of an individual who dies while still in federal service. This individual has not filed an application for retirement and has not separated from federal service. So, does this mean as a retired annuitant, a spouse who was provided a spousal benefit cannot get any benefit for carrying the Basic Life into retirement?