Q. I am working for the Postal Service and will have 13 years in at age 63, when I plan to retire (estimated retirement is 1 percent per year). I also did 20 years in the Navy and am drawing my pension from there. I am fully vested in Social Security, and have always worked jobs that paid into Social Security. When I retire, can I draw all three pensions? Are there any penalties? If yes, what and why?
Browsing: Military service deposits
Q. I will be retiring with 26 years of law enforcement 6(c) service plus four years of military time that I have bought back. Once I begin my annuity, what will be the premium cost to remain in my federal health insurance plan? Will I continue paying only the employee share, or will I now be responsible for both the employee and government share of my plan?
Q. I am 56 years old (my minimum retirement age) with 27+ years in the Postal Service and four years in the Marine Corps, which I bought back. One person at retirement counseling told me I was not eligible for the special retirement supplement. Several of the specialists told me I was. I am retiring voluntarily. I asked the specialist to either show me a site where I could read it or put it in writing that I would receive the special retirement supplement. She could supply neither. I have spent countless hours on the Internet seeking the answer, many…
Q. I plan on retiring under FERS at the end of pay period 26, Jan. 11, 2014. I bought back my military time and will be required to waive my military retired pay effective the day before my annuity begins. Does my annuity start Jan. 12, 2014 or Feb. 1, 2014? What would be the effective day for waiving my military retired pay? A. You’ll have to formally waive your military retired pay at least 90 days before the date you’ve set to retire but not later than 60 days. You can find out how to word that request and…
Q. My retirement computation date and annuity computation date is Jan. 20, 1981 (showing 33 years at the end of January 2014 because I paid back four years of military). Does that mean I would not receive the special retirement supplement because I’m not 30 years, as military didn’t count toward the supplement even though I had paid the money back (as seen in above comp dates)?
Q. At age 58, I will have a combination of civil service (FERS) with a military service deposit that equals 30 years. Is the portion of service gained through the military service deposit considered FERS earnings when the special retirement supplement is calculated?
Q. Husband, age 54, is retiring under Voluntary Early Retirement Authority on Dec. 31. He has 31 years with the Postal Service under CSRS and three years with the military and did not pay back his military time. He has 19 quarters earned for Social Security. He does not intend to earn the full 40 quarters of Social Security prior to age 62. If he earns the full 40 quarters after age 62 — say, at age 64 — what will happen?
Q. In 1984, I “bought back” my four years of military time and have added 38 years of federal service to that. I plan on retiring in 11 months as a combined CSRS and FERS. When I paid for my military time, I paid $__X___ back, plus interest. Someone retired here this month and paid his military time with no interest, a difference of $3,000. Do you no longer have to pay interest? Can I get mine back?
Q. I am 17-year 1811 and would like to take a personal leave of absence for up to six months. I have also bought back my 11 years of military service. Can I request leave without pay for up to 12 weeks without using my balance of annual and/or sick leave? Is there language where the Office of Personnel Management or my agency, Customs and Border Protection, talks about a leave of absence in lieu of LWOP? I have looked and cannot find how to start the process.
Q. I retired from the military after 22 years and, upon retirement, we declined survivor benefits. After 10 years of working in the civilian corporate sector and drawing my military pension, I was hired and now work for the Department of Homeland Security. I will retire at age 64 (in four years) with eight years of federal service. I am considering a military buyback. I know how the buyback works (i.e. fees, interest, etc.), but I cannot find a reference to my particular scenario or how or if allowed to purchase survivor benefits for the combined time in retirement. Can…