Q. I may be a little confused, under CSRS, as to when I should retire: Nov. 30, 2013 or Jan. 12, 2014. I heard Social Security and retirees will get a 1.5 percent cost-of-living adjustment Jan. 1. My agency may only get a 1 percent COLA in January. But, for my annuity, would the calculation for the high-3 years with that 1 percent make little difference? I chose Nov. 30 because it is the last day of the pay period and within that one-to-two-day window at beginning or ending of the month as recommended for CSRS retirement processing. I wanted…
Browsing: Retirement date
Q. I plan to retire Jan. 3, 2014. If we receive a raise effective Jan. 1, will this factor in to my retirement pension?
Q. I will be retiring Feb. 28, 2014. When can I sign up for my Social Security offset. I am a federal employee under FERS. I started work in August 1984.
Q. I am retiring Jan. 11 and have five years under CSRS and 26 years under FERS. I am confused about survivor option benefit for my spouse (three years older than I am) called insurable interest. It appears to me that for a 10 percent reduction in my retirement annuity, he would receive 55 percent of my retirement annuity at my death compared to 50 percent for the same 10 percent reduction under the regular survivor option. My spouse has his own pension and savings. I cannot find a comparison of the advantages and disadvantages for both kinds of survivor…
Q. I had a retirement date of Jan. 3, 2014, but have developed some health problems and may need to go out earlier or use my 17 weeks of sick leave, which would take me to the same date. Would it behoove me to use up the sick leave or go out two to three months earlier with the sick leave in tact? I will have 35 years, eight months and 13 days if I go out on Jan. 3, 2014.
Q. I plan on retiring Jan. 11 or Feb. 22. With the 1 percent raise starting in January, wouldn’t it be better to wait until the February date to get the max from my 240 hours of use-or-lose leave, or would it not make a difference?
Q. I will be retiring at the end of December or beginning of January 2014, depending on your answer. I am a FERS employee who will have about eight years, so my annuity will be small (I retired from the Air Force with 25 years of service). I am thinking it would be better for me to retire Jan. 11, 2014, instead of Dec. 31, 2013, because a full paycheck will be quite a bit more than the monthly annuity, so it would be worth skipping an annuity payment in favor of a paycheck. I just want to make sure…
Q. I am a FERS employee offered a voluntary early retirement date of Jan. 31, 2014 (annuity effective date Feb. 1) I am eligible for optional retirement on Feb. 3, 2014, at age 56 with more than 31 years (annuity effective date March 1). Would taking the VERA a few days earlier affect my annuity amount? Which would be more beneficial?
Q. I plan on retiring in January 2014. My planned date is Jan. 10. The leave year ends Jan. 11. I have 240 hours carryover and 121 balance from 2013. Will I lose the 121 hours if I go past Jan. 3 for retiring?
It’s that time of year when employees start asking, “What’s the best date to retire?” Well, there isn’t a single date that’s best for everybody. Still, there are some dates that are better than others. I’ll explain why. Time of month The rules governing the time of month to retire are different for CSRS and FERS. FERS employees have to retire no later than the last day of a month to be eligible for an annuity payment in the following month; CSRS employees may retire up to the third day of a month and be eligible for an annuity in…