Q. I am a 59-year-old FERS employee with 29 years of Defense Department service. I will have 30 years service in August and will still be 59 at that time. I plan to continue working until I am 62 with 33 years service so I will qualify for the 1.1 percent FERS retirement annuity multiplier rather than the 1.0 percent multiplier used for retirees under the age of 62. Is there any way I can qualify for or negotiate to receive the 1.1 percent multiplier if I accept a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay offer this summer and…
Browsing: FERS annuity computation
Q. I have 26 years with the Postal Service under FERS. I am 59 years old. If I retire now, am I eligible for the special retirement supplement? Or do I have to wait until I’m 60? I have not been offered early-out incentives.
Q. I am a FERS employee with slightly more than 32 years of service and eligible to retire. I would like to hold off retiring until January, when I will receive full credit for my sick leave in computing my years of service. However, I may have the opportunity soon to move into a nonfederal position to start my second career this spring. Can I ask to go on leave without pay until January and delay my effective retirement date for about six to seven months? And, while on LWOP, can I work at this new job? If it makes…
Q. I have heard a rumor that President Obama changed the Office of Personnel Management guidelines regarding the sale back of accrued sick leave. Do you know of such a change? I will be leaving federal service in August and have quite a bit of sick leave. I will not be retiring because I don’t have five years’ service.
Q. I am on disability retirement from the Federal Bureau of Prisons. I have 13 years of service and fall in the MRA bracket born in 1953-1964. When will my annuity be recalculated? Will my annuity be more than what I am receiving on disability?
Q. I retired from the military with full retirement in 1995. I think I understand that I cannot buy back any military time without forfeiting retirement pay when I retire from my federal job with the post office. Since the money comes out of my pocket, I have a hard time understanding this. However, I will have 20 years of service with the post office in 2017, when I am 56. If I take retirement, then why will I have a MRA+10 reduction till age 62 if I can retire fully at 60 with 20? Why would it be 30…
Q. I am about to separate (not retire) from active duty with 20½ years of service and transfer to the Air National Guard as a military technician at GS-13. I am told that if I buy back my time, my military pension will not be affected — that I will still draw on it normally when I finally retire at whatever officer grade I achieve. I plan on staying with this unit for an additional 20 years in this position, and I am intrigued by the prospect of buying back my military time and securing a FERS retirement with 40…
Q. I was a nonappropriated funds government employee from 1979 to 1990 holding UA7, UA8 and UA9 positions (AAFES and Army NAF). I resigned in 1990 and have worked in the private sector since. Now I plan to return to federal government employment as a GS5 or GS7. How will my service time count toward retirement, and is it possible to repay my NAF pension funds into the system? Also, how will my accrued sick leave be handled?
Q. I am a career conditional GS employee who can buy back more than 10 years of military time for FERS. I just learned you have to have five years to be vested in FERS and that this five years has to civil service. If I buy back my time and I am RIF’d prior to completing the five years, what happens to the money I paid in since I will not be eligible for FERS?
Q. I have been a FERS employee since 1991. I heard that if I stay for about 42 years, my retirement benefit will be at its highest. Is this true?