Browsing: Retirement date

Q. What are the differences if my retirement date is Nov. 29, 2014, or Dec. 1, 2014? I will be retiring from the Postal Service as a Level 18 postmaster. I am retiring under CSRS. My service computation date is July 6, 1979. I will be turning 55 on Nov. 16. I have worked continuously at the Postal Service, and I have 1,848.84 hours of accumulated sick leave.

Q. I am looking at retiring in January 2015. I will be 56 years old Oct. 15. I will have 30 years in as of Dec. 24. Waiting until the end of leave year to cash in all available annual leave. I am looking at cashing out my Thrift Savings Plan in a lump sum to pay off all debts. Will that income be considered part of earned income so that the special retirement supplement is reduced? If so, would it be in my interest to retire at the end of 2014 so that my annual leave hits that year…

Q. I retired Jan. 3 from the Department of Health and Human Services/Indian Health Service with almost 45 years of service. My entrance on duty was May 3, 1969. I am covered under CSRS. I was expecting to receive my first annuity check Feb. 1. However, there was no electronic deposit in my bank account. I tried calling the Office of Personnel Management, but all I got was a busy signal. Therefore, I contacted OPM via email. I haven’t heard back from them as the automatic response I got indicated that it could take up to 30 days to respond.…

Q. I have read a number of articles noting the best dates to retire in 2014. For example, I have seen March 22 and Dec. 28. As a GS-13 FERS employee who will have about 32 years of service at age 61 as of Dec. 28, does it really make that much of a difference to wait until Dec. 28 versus March 22 (at which time I will already be 60) in terms of my FERS annuity? I have about 1,800 hours of sick leave, have been maximizing my Thrift Savings Plan contribution most of my career, and I was…

Q. My accountant, a CPA, has a question about the Form W-4P (withholding Certificate for Pension or Annuity Payments) where it states to put down the “additional amount, if any, you want withheld from each pension or annuity payment.” He is asking me to tell him how much of my monthly pension payment is not taxable. My human resources specialist has given me a federal retirement benefits estimate if I retire from the federal government March 3. My total CSRS annual net retirement annuity is estimated to be $128,412, and my monthly annuity after health insurance premiums are deducted is…

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