Browsing: RETIREMENT

Q. I’m a CSRS employee who is planning to retire. I’ll receive a lump-sum payment for unused annual leave in 2020. Can I have Social Security contributions deducted from this payment? It would be helpful if I could, because I only need a few more credits to be eligible for a Social Security benefit. A. No, you can’t. That’s because Social Security credits can only be earned through deductions taken from wages or self-employment.

Q. I have worked for the U.S. Postal Service for 43 years. I retired in 2011 with a CSRS pension. Prior to USPS, and afterwards, I worked under Social Security. I believe I have the required 40 quarters. Will the Windfall Elimination Program affect my getting Social Security and how will it affect my pension? A. While the Windfall Elimination Provision will have no affect on your CSRS annuity, your Social Security benefit will be affected by it. The WEP reduces the Social Security benefit of anyone who is receiving an annuity from a retirement system – like CSRS –…

Q. I am a GS-12 Step 10 and applied for a temporary promotion GS-14 (as I had been a GS-14 many years ago and took a 14-year break in service); it was posted as NTE 1-4 years. If after three or more years they do not make the position (six of them) permanent, and I have to return to my GS-12 Step 10 position, do the three years count as my high-3? I want to retire in five years and the high-3 is a big deciding factor. A. Your high-3 will be based on your highest three consecutive years of…

Q. If I go on annual leave for 30 days before I retire, is there an effect on my annuity? A. The more important question is this: “Can I go on annual leave for 30 days before I retire?” The answer to that question is no. The Comptroller General has ruled that employees may not take terminal leave. While your supervisor might approve your use of some periods of annual leave, he or she would need to schedule it so that it didn’t interfere with the needs of the government. Further, most agencies require that a retiring employee be at…

Q. I’m a FERS employee. Can I retire at age 53 with 25 years of service? A. No you can’t, unless your agency offers you that opportunity because it is undergoing substantial restructuring, reshaping, downsizing, a transfer of function, or reorganization. If they aren’t, you can always resign and apply for an unreduced annuity when you reach age 60. Or you could retire under the MRA+10 provision when you reach your minimum retirement age, which would be 56 and 4 months. However, in that case your annuity would be reduced by 5 percent per year (5/12ths of 1 percent per…

Q. I’m a GS employee and have made a deposit to get credit for 10 years of active duty. Would that deposit be refunded to me if I’m called back to active duty? A. No, it wouldn’t. That would only happen if you resigned from the government and asked for a refund of all your retirement contributions. However, if you did, you would void all future entitlement to a retirement annuity.

Q. I only paid part of my buy back for my military time and applied for deferred retirement from civil service in September 2018. I just got a letter from the Office of Management and Budget telling me that they have refunded my partial payment to get credit for my military time and that my claim was denied. Not counting my military time, I had 10½ years in civil service. Because I have been disabled for some time I have been receiving Social Security and I am 30 percent service-connected from the military, so I do receive a disability check…

Q. I was employed in June 2011 as an Army civilian. I served 33 years in the Marine Corps, out of which 14 years or so were active duty. I was still in the reserves when I was employed and retired from the reserves on July 1, 2011. My service computation date was computed to 08/27/97 for leave. After attending one of your seminars, I checked the government retirement and benefits website and my SCD on GRB is the same as my leave date. According to the GRB website, I am eligible for voluntary retirement on Jan. 18, 2020. Problem is,…

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