Q. I retired from the Federal Aviation Administration in January 2013 (after 33½ years) and began receiving my CSRS annuity. I am considering returning to the FAA in an executive level position. How will my annuity payments be impacted, if at all? Will I pay into Social Security or FERS?
Browsing: FERS annuity computation
Q. I recently attended a FERS retirement seminar and was told that buying back my enlisted military retirement is a bad idea because it would be close to $40,000 to $50,000. I have calculated my buy back on several online federal calculators and don’t come up with anything near that cost. I am calculating all of my active duty earnings from my entry date on active duty through my retirement date — 20 years and one month. I have included the 10 years of interest I have accrued as well since I did not buy it back within my first four years of…
Q. I have 34 years of government service. I was hired by the postal service as a FERS employee in 1990 and was converted to CSRS Offset in 2012. I am retired and plan on collecting my Social Security benefits this year, at age 62. How much will my civil service pension be reduced if my Social Security benefits are $1700 per month at age 62 and I received an annuity estimate of $3300 per month?
Q. Can employees receive reduced annuity at MRA + 10 yrs of service even if they aren’t offered a VERA?
Q. Twenty years into FERS, I bought back my all military time, but now I’ve learned that I have to waive my military retirement. Is that true? If it I get my deposit back, can I collect civilian and military retirement checks at the same time? FYI, I’m a disabled vet with a 90% rating.
Q. I just received a letter from the Office of Personnel Management (OPM) stating that I am going to receive the Code 67 supplement as part of my Federal Employees Retirement System (FERS) retirement. I was awarded Social Security Disability Insurance (SSDI) as of September 2015. Does my SSDI payment stop me from receiving the Code 67 supplement?
Q. I am 56 1/2 years old with 27 years of federal service. How does this Voluntary Early Retirement Authority (VERA) actually work? I will not have 30 years of service until November 2018. If I were offered a VERA, does this mean that they will give me the additional three years and that would be how they would calculate my retirement amount? A. No, it doesn’t. If you are eligible for a VERA, your annuity would be based on your actual length of creditable service when you retire. Because you are a FERS employee, the following formula would be…
Q. I’ve heard that the amount of government contributions to an employee’s retirement account is irrelevant. Why? How is the annuity calculated? Would I not receive a lump-sum payment (FERS refund) equal to the amount I contributed to the retirement fund?
Q. I am a FERS employee with 30 years of service. If I retired at age 68, will my Social Security benefits be affected by the amount of my annuity and the fact that I bought back my time in the military of three years?
Q. I am FERS retiree with BCBS family insurance. I am 68 years old. At 65 I took only Part A Medicare. My wife will be 65 this year. Should she take Part A Medicare as well because she is covered on my BCBS policy anyway?