Q. I am having half of my Social Security benefit reduced because I have a CSRS retirement and I earned enough Social Security credits separately for a Social Security benefit because of Army Reserve service. Will the amount of my Social Security benefit be reduced because of the windfall elimination provision? Will it can count on my IRS Form 1040 as taxes paid or a deduction?
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Q. Can temporary promotions be used in the computation of an individual’s high-3?
Q. I have read a number of articles noting the best dates to retire in 2014. For example, I have seen March 22 and Dec. 28. As a GS-13 FERS employee who will have about 32 years of service at age 61 as of Dec. 28, does it really make that much of a difference to wait until Dec. 28 versus March 22 (at which time I will already be 60) in terms of my FERS annuity? I have about 1,800 hours of sick leave, have been maximizing my Thrift Savings Plan contribution most of my career, and I was…
Q. I was offered and took an early FERS retirement. I wasn’t in any special occupational group. I was an IT specialist. Will I receive the 1.5 percent cost-of-living adjustment, or do I have to wait until I’m 62.
Q. I am FERS-covered and will retire this year with 20 years at age 62. My annual FERS annuity is about $25,000. After retirement, I plan to work in a private company in a foreign country for an estimated annual $90,000 salary. I will roll over my Thrift Savings Plan savings to a traditional IRA. I will not withdraw my Social Security until I reach my full retirement age at 66 when I will no longer have any wages. 1. Am I allowed to draw FERS annuity while living in a foreign country? 2. How will my salary from the…
Q. I would like to know if I can get back the money I returned (bought back) for my military time. I served three years (May 1974-May 1977), started federal civil service in November 1977 and retired in November 2009 with a total of 35 years — three military and 32 civil service. I bought back my military time because no one knew for sure at that time how it worked. I will not be eligible for Social Security at 62, or after, so it is my understanding that it will not affect my annuity. Is this correct? They will…
Q. I retired from the Navy in 2001 after 20 years of service and then took a position at the Postal Service, which I have been at for 10 years. I am 53 years old. I have been collecting my military pension since I retired from the Navy and want to know what my options are for retiring from the Postal Service. Can I collect a separate pension from the USPS? If so, at what age can I retire and can I get full pension benefits from both the military and the USPS?
Q. I retired under the FERS disability provisions 16 years ago. I want to find out what portion of my monthly retirement benefit represents the special retirement supplement portion. At the time of my retirement, I had 16 years of creditable service. I am receiving about $1,900 per month, and I believe my calculation at age 62 would be times 1.1 percent. I will not be eligible for Social Security until age 62 and one month. Will I lose the supplement for one month?
Q. I am a 60 percent disabled veteran, so I earn a disability income. When I started work at the Postal Service, I bought my military time back so it would count toward retirement, so my service date is Sept. 1, 2001 (actually started in 2006). I am 46 years old now and I am looking to leave the USPS within three to four years. What options do I have for retirement? Could you explain deferred annuity and any other options available to me?
Q. My accountant, a CPA, has a question about the Form W-4P (withholding Certificate for Pension or Annuity Payments) where it states to put down the “additional amount, if any, you want withheld from each pension or annuity payment.” He is asking me to tell him how much of my monthly pension payment is not taxable. My human resources specialist has given me a federal retirement benefits estimate if I retire from the federal government March 3. My total CSRS annual net retirement annuity is estimated to be $128,412, and my monthly annuity after health insurance premiums are deducted is…