Q: If you are the retiree with survivor benefits and the survivor dies first, what forms do you need to fill out? Do you inform Medicare? Do you change health benefits from family to single? What form do you fill out to remove the survivor benefits? A: All you need to do is call the Office of Personnel Managment at 888-767-6738 to report the death of your spouse. A benefits specialist will guide you through the process and provide the forms your need.
Browsing: RETIREMENT
Q: I was retired medically from the Army with less than 20 years of service. My health improved enough for me to work at the U.S. Postal Service. I was then called back to active duty to complete my 20 years of service, serving an additional three years and eight months. I returned to the USPS in 2005. I retired from the Army with a military pension and Veterans Affairs Department disability of 50 percent. Can I still receive my military pension and VA disability and buy back only those years I returned to active duty to get credit for…
Q: I’m a FERS employee. I’ve read information on the OPM website that indicates that I can retire at age 57, based on my birth date. However, I hear fellow colleagues mentioning that early retirement is not available until age 59 1/2. Is there a difference in benefits between retirement at these two ages besides the 5 percent per year pension reduction to age 62? A: FERS employees can retire on an immediate, unreduced annuity at their minimum retirement age, which ranges between 55 and 57, depending on their year of birth. They also can retire at their MRA with…
Q: With the ballooning deficits and the fact that the government has regularly “borrowed” from pension funds, should we be worried about actually receiving our full pensions when we retire? A: No, you don’t need to worry, and it doesn’t make any difference whether you are covered by CSRS or FERS. All retirement contributions go into and annuity payments come out of the same place: The Civil Service Retirement and Disability Fund.
Q: If you retire with annual leave and restored leave accumulated, will you get paid for your restored leave as well as your annual leave? A: You will receive a lump sum payment for any unused annual leave you have to your credit when you retire.
Q: I am a CSRS postal employee. I have my 41 years, 11 months of service time and have one year of unused sick leave accrued. Will I be paid one lump sum for the sick leave, or will it add to my monthly annutity, even though 80% is the maximum? If added to monthly, how would the additional amount be calculated? A: CSRS employees reach the maximum 80 percent limit when they have 41 years and 11 months of service. Therefore, when your annuity is computed, you’ll receive a refund of any contributions you made to the retirement fund…
Q: Can nine years as a Marin County, Calif., firefighter count toward a federal retirement? A: No, it can’t.
Q: I plan to retire from federal service in a few years under CSRS. I will not receive Social Security benefits. My wife will retire at about the same time with Social Security benefits and a small state pension. I plan to elect a survivor annuity for my wife. If I die before her and she begins receiving the CSRS survivor annuity payments, will her monthly Social Security benefit be reduced due to the windfall elimination provision or any other factor? A: No, her Social Security benefit won’t be reduced. She will be able to receive her earned Social Security…
Q: I am a 29-year federal employee, with the first 16 of those years in congressional staff service. For the first three years of my employ, congressional staff could opt to pay neither CSRS nor Social Security. Being young and underpaid, I chose that option. Today, after being determined as FERCCA eligible, I am covered by CSRS Offset. During the FERCCA review and election period, I was provided with estimates of my projected retirement in 2013. The calculation for CSRS Offset factored in the unpaid contribution years from the early 1980s, but actuarially reduced the benefits by the amount of…
Q: My husband retired after more than 30 years with the U.S. Postal Service with CSRS. Prior to working for the postal service, he paid 39 quarters into Social Security. When he reaches 62, can he receive Social Security benefits, or does he need to have had 40 quarters. He does have an opportunity to pay more into his Social Security fund through a farm income (material participation), but isn’t certain if that will allow him to receive Social Security benefits. A: To be eligible for a Social Security benefit, he would have to have 40 credits. To qualify for…