Q. I’m under. I know, under MRA +10, I need to have more than 10 years of service and have to be at least 57 to retire before my minimum retirement age with a 5 percent-per-year reduction for each year under 62 or retire at 60 with no reduction. If I have one year of unused sick leave accrued by the time I’m 59, could I retire at 59 and have my year of unused sick leave credited toward my years of service to avoid the reduction of 5 percent, or do I still have to work until 60 to avoid reduction…
Browsing: annuity reduction
Q. I was involuntarily separated by base closure and realignment in 1996 with 11 years of service. My minimum retirement age is 56. Can I begin my annuity at age 56 with a penalty?
Q. My late wife and I were 30-year federal employees covered under CSRS. When we retired, we both elected no survivor benefits. I am age 60 and have been retired with CSRS for five years. My wife passed in 2010. I remarried in 2012 and would like to place my wife into the survivor benefit program. I understand the calculations for determining a full survivor annuity, but should my current wife predecease me, will I be able to stop the survivor benefits deductions from my monthly annuity?
Q. I am under FERS, 57 years old and will have 30 years in on Feb. 12, 2014. I have been asked if I would take a buyout and leave Dec. 31. What impact would retiring two months early have on me financially? Would I still get the special retirement supplement? Would my pension be reduced?
Q. If I am RIF’ed under FERS with 24 years of service at age 58 in September 2014, am I going to be penalized 5 percent per year on my annuity for being under 62 years old, or is there no penalty? I am an EAS employee with the Postal Service.
Q. I am 54 years old with 16 years of federal service under FERS. I am eligible to retire at my minimum retirement age (56) on the MRA+10 option. At that time, I will have approximately 700 hours of unused sick leave. Can I apply the unused sick leave to my time in service, reducing the amount my annuity is cut? If I retire at 60 with 22 years of service, my annuity will not be reduced, but my accumulated sick leave becomes worthless, correct? Can I retire at 59½ and apply the sick leave to the end of my…
Q. I retired from the military after 22 years and, upon retirement, we declined survivor benefits. After 10 years of working in the civilian corporate sector and drawing my military pension, I was hired and now work for the Department of Homeland Security. I will retire at age 64 (in four years) with eight years of federal service. I am considering a military buyback. I know how the buyback works (i.e. fees, interest, etc.), but I cannot find a reference to my particular scenario or how or if allowed to purchase survivor benefits for the combined time in retirement. Can…
Q. I am retired military getting a pension and I have worked enough years as a CSRS/FERS, not sure which, to qualify for a pension there. I don’t want to buy back my years as it would be too expensive at this point. Will I get both pensions? Will one be reduced?
Q. I will be eligible to draw my CSRS retirement on Jan. 18. I work at the Veterans Affairs Medical Center in Asheville, N.C. I will be 62 years of age on Jan. 18 and also eligible to draw Social Security. Can I draw my CSRS retirement but leave my Social Security at this time, and still continue to work at VA and draw full pay?
Q. I am contemplating retirement with a FERS pension at age 62 with 10 years of service. If I take a job in the private sector, will my FERS pension be reduced?