Browsing: annuity reduction

Q. I am 52 years old, 25 years in FERS, potentially being offered a Voluntary Separation Incentive Pay. If I do the VSIP, I will be employable at my current salary outside the government. If I take the VSIP, can I carry my Federal Employees Health Benefits into retirement if I pay for it? Can I delay collecting my retirement until age 62 and carry my FEHB through to retirement?

Q. I am a GS-15 in the Department of the Air Force in San Antonio. My parent office in D.C. is relocating all field representatives (there are nine of us) back to the National Capital Region. I am 57½ years old and have more than 13 years of service. I know I am always eligible for MRA + 10 retirement, but do I have other options? If I can retire and not lose the 5 percent per year, I would seriously consider this. There is also a Voluntary Early Retirement Authority window still open to me, I believe.

Q. I am 55 and worked 19 years with the Postal Service under FERS (from age 26 through 46). I have worked other jobs in the past and up through a few weeks ago. Can I start drawing my pension from the Postal Service? I realize it would be at a lower rate than if I waited until I was older.

Q. I am 57, have 40 years of CSRS service and am happily married. My wife is 53 and has 37 years of CSRS service (and is also happily married). I’m ready to retire. If I retire and choose not to select a survivor benefit, could I elect to provide it at a later date? What factors should I consider when making the decision of whether or not to elect a survivor benefit?

 Q. I will have 25 years under FERS once I complete the buyback of my military time and 15 years of federal time at age 56. Is it true that I have labored under the misconception of the 80 rule all these years? When I was hired, this information was in my package. I can’t believe I have been looking forward to a full retirement just to hear I will lose more than 30 percent.

 Q. In 2012, I retired after 35 years of federal service (CSRS). I had been diagnosed with a rare bone cancer and decided that I had to address my health issue and quit working. It has now been 1½ years since I retired, and I am in remission and would like to go back to work at my prior position. Is this possible? What will it do to my annuity?

Q. Recently, a colleague and I were reading your Dec. 2 article “Don’t let these 5 mistakes disrupt your plans.” Your statement on number 5 (not accounting for the government pension offset) leaves us wondering. We are under CSRS and retiring this month. Her husband is still working and will be eligible to draw Social Security benefits when his time comes to do so. Your statement indicates that when he draws Social Security, her CSRS annuity will be reduced. REALLY?  I know that if he draws Social Security and dies, she eligible to receive his Social Security, but her pension with…

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