Browsing: service computation date

Finding Your High-3

0

The “high-3” is an essential element in the formula used to calculate your annuity. But what does the term high-3 mean? And how do you figure out what yours is? The high-3 defined Your high-3 is the average of your highest rates of basic pay over any three consecutive years of creditable civilian service, no matter when they occur in your career, with each pay rate weighted by the length of time it was received. That three-year period starts and ends on the dates that produce the highest average pay. It starts on the first day that leads to the…

FERS rate following transfer

0

Q. I was hired at the Defense Department in October 2012, and thus I contributed .8 percent of my pay to FERS. I transferred to VA in April 2014 with no break in service and now have 3.1 percent of my pay deducted, and I am told that it is increasing to 4.4 percent of my pay, as this rate applies to new hires after January 2014. Is it correct that I should be treated as a new hire, despite in all other areas being treated as a transfer (leave carried forward, no ability to change benefits until open season)?…

FERS or CSRS

0

Q. I’m under FERS, and my service computation date is Nov. 26, 1983. A co-worker in my organization has a SCD of Nov. 7, 1983, and is under CSRS. What is the SCD cutoff date for FERS vs. CSRS? A. As a rule, employees who were first hired before Dec. 31, 1983, are covered by CSRS. To review that requirement and other details which might affect your situation, go to www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c010.pdf. If you meet the qualifications to be covered by CSRS, you’ll need to go to your personnel office and ask them to help you process your claim under the…

Possible RIF's effects on workers

0

Q. I work at an airport as an air traffic controller for the FAA. The airport is not very busy with commercial traffic, and I am curious what the FAA would do with me if they shut down the air traffic control tower where I work at because of inactivity. If there were a reduction in force for air traffic controllers in the FAA, would they base it on our service computation date?

Redeposit of CSRS

0

Q. I am a CSRS Offset employee with almost 30 years of service. After my first period of civilian service (1981 through 1992), I was laid off during a RIF. I withdrew my CSRS deposit in 1992 and have not paid it back. Can I still get retirement credit for my civilian service prior to March 1, 1991, and receive actuarial reduction versus paying back my withdrawal plus interest?

Buying back LWOP for annuity calculation

0

Q. At 19, I was recruited and placed into a civilian Defense Department position as a cooperative education student. I would be placed on leave without pay during periods when I was attending college and not working. This continued for five years. My start date was June 1980 and I finished my degree in August 1985. My service computation date is April 1982. Is there an option to buy those LWOP periods to bring my SCD to 1980?

VERA pros and cons

0

Q. I am a FERS employee working for the Department of Agriculture. I have been offered a job outside of the government and am trying to see the pros and cons of leaving. I am a FERS employee with a service computation date of Aug. 17, 1986, and am 46 years old. If I apply for Voluntary Early Retirement Authority, what would the disadvantages or advantages be?

1 2 3 5